Mixed finish for stocks in a blizzard of earnings ahead of the end of a two day Fed policy setting meeting. Market analysis from Art Hogan, Chief Market Strategist, National Securities. Housing affordability gets worse in Los Angeles as home prices tick up 11.9% over the past year according to the latest S&P CoreLogic Case-Shiller home price index. The latest discussed with Dr. Frank Nothaft, Chief Economist, Corelogic. In Orange County, Colette's Children's Home...

Stocks rally ahead of the weekend as a new reading on manufacturing hits a record high and new home sales hit the highest since 2006. Mortgage rates pull back for the fourth week in a row. Stocks erase most of the losses seen in the previous session on reports President Biden plans to propose a tax hike on wealthy investors when he addresses a joint session of congress on Wednesday, the same day the Fed will wrap up a policy setting meeting. Bitcoin dips below $50K. Analysis of the markets,...

Mottek On Money Special Edition focused on Southern California real estate. Guests: Dr. Frank Nothaft, Chief Economist, Corelogic for our "Frank" discussion on real estate, the mortgage business and the economy. Corelogic has released its latest report on rents for single family homes. Jeff Lazerson, President, MortgageGrader.com and O.C. Register columnist has the latest on mortgage rates. Los Angeles City Councilmember Joe Buscaino, Chair of L.A.'s Trade, Travel and Tourism Committee, has...

Another record shattering week for stocks and cryptocurrencies on signs the economy is on a roll continuing the recovery from the pandemic recession. The Dow ended the week at 34,201 after ending above 34K for the first time on Thursday. Bitcoin saw a record shattering week moving above 64K as the crypto exchange Coinbase made its Wall Street Debut. Analysis of the markets and the economy with Dr. Mohamed El-Erian, President, Queens College Cambridge, Chief Economic Advisor, Allianz, former...

Stocks end the day at or near record highs. Bitcoin soars to a new high above $63K as the largest cryptocurrency exchange, Coinbase, is set for a direct listing on the Nasdaq. Both the SP500 and the Nasdaq close at all time highs. The Dow ended down 68 points, partially weighed down by shares of Johnson & Johnson which ended lower after U.S. regulators recommended a pause in administering its Covid vaccine to investigate reports of rare but potentially dangerous blood clots. The latest...

Stocks rally sending the Dow and SP500 to record highs. Big tech names participated in the latest rally as investors remain optimistic about economic growth and progress against the coronavirus pandemic. Bitcoin hovers near its all time high as more consumer facing companies invest in the cryptocurrency and begin accepting it as payments. Among them, Los Angeles based real estate company Caruso. The economic rebound, retail outlook and Bitcoin discussed with Los Angeles business and civic...

Mottek On Money Special Edition focusing on Southern California real estate. Home prices tick higher. Fixed rate mortgage rates move up. Affordability and availability the big issues as the traditional spring home buying season begins. Rays of sunshine in commercial real estate as pandemic restrictions are eased. The very latest reports from Dr. Frank Nothaft, Chief Economist, Corelogic, Oscar Wei, Deputy Chief Economist, California Association of Realtors, Spencer Levy, Chairman of Americas...

A blockbuster March jobs report shows the economy added 916K jobs and the nation's unemployment rate fell to 6% from 6.2% as pandemic restrictions ease in many states including California. In reaction, benchmark government bond yields moved higher Friday in a holiday shortened session. The SP500 closed at a record high ahead of the three day Easter holiday weekend after the Dow had achieved a record high earlier in the week. Wall Street cheered the President's proposed $2.3T infrastructure...

Mottek On Money Special Edition focusing on Southern California real estate and the latest readings on home prices, sales and the impact of Proposition 19 on real estate. Guests: Dr. Frank Nothaft, Chief Economist, Corelogic with the latest SP Corelogic Case Shiller Home price index which includes Los Angeles, San Diego and San Francisco. Economist Jordan Levine, Chief Economist, California Association of Realtors and Los Angeles County Assessor Jeff Prang on the next phase of Prop 19 kicking...

A late rally sends the Dow and SP500 to record highs on the best consumer confidence reading in a year, optimism about the ongoing covid vaccine rollout in the U.S. and the price of oil climbing above $60/barrel as a massive cargo ship continues to block the Suez Canal impacting oil tankers and hundreds of other ships. New concerns about a third wave of Covid in parts of Europe. Mortgage rates move up for the 6th week in a row. Analysis of the markets and the economy from John Kilduff, oil...

Stocks pull back as coronavirus lockdowns are started or extended in parts of Europe including France, Germany, Poland and Greece. The Dow retreats 300 points at the closing bell. Oil tumbles 6% to $57.76/barrel on lower demand expectations. Meanwhile, Fed Chair Jerome Powell and Treasury Secretary Yellen deliver an upbeat assessment of the U.S. economic recover in a joint appearance before the House Financial Services Committee. Analysis of the latest market action with Art Hogan, Chief...

Mixed finish to a choppy but record shattering week for blue chip stocks. After closing at a record high above 33K for the first time on Wednesday, the Dow pulled back heading into the weekend as benchmark government bond yields hit 14 month highs sending mortgage rates higher. Fed Chair Jerome Powell reiterates the Fed's commitment "to provide the economy with the support that it needs for as long as it takes." Travel activity picks up with some cruise lines announcing plans to resume...

Blue chip stocks slip slightly from record highs as the Fed begins a two day policy setting meeting that's set to wrap up on Wednesday with a statement on the economy, a decision on interest rates and a news conference by Fed Chairman Jerome Powell. The Dow slipped 128 points from its record high to settle at 32,826. Bitcoin pulled back a bit more from its record high and is now hovering near $56,500 after getting close to $61K over the weekend. The latest on the markets, economy and outlook...

Blue chip stocks end the week at record highs following the signing into law of the $1.9T pandemic relief package one year after the devastating Covid pandemic was declared. Direct payments of up to $1,400 to individuals are expected to start flowing to bank accounts and mail boxes starting this weekend. Tech stocks pulled back as long term government bond yields ticked higher in a volatile week. Bitcoin got close to its record high above $58K before pulling back. The record breaking $69.3...

Mottek On Money Special Edition focused on Southern California residential and commercial real estate as the economy continues to recover from the pandemic recession. Guests: Dr. Frank Nothaft, Chief Economist, Corelogic, with the latest report on delinquencies and foreclosures, Jordan Levine, Chief Economist, California Association of Realtors with an update on home prices and sales as well as the association's push for a fair housing and equity legislative package in Sacramento. On...

Stocks wrap up a volatile week with a rally after yet another roller coaster ride as long term government bond yields make unusually wide moves before pulling back. The Dow ended the week with a closing gain of nearly 600 points. The bond market has reportedly just had its third worst week since the year 1830. Oil prices spike to the highest in nearly 2 years, moving above $66 a barrel. Gas prices in L.A. have hit the highest in more than a year. Better than expected news on the job front as...

Mottek On Money Special Edition focused on Southern California real estate including the latest report on home price growth from Corelogic Chief Economist Dr. Frank Nothaft, the latest on home sales and prices from Jordan Levine, Chief Economist at the California Association of Realtors and the latest on mortgage rates from Jeff Lazerson, President, MortgageGrader.com and O.C. Register columnist. Stocks pull back after what was the biggest one day rally of 2021.  A mortgage company stock...

Stocks take a bumpy ride and end the week lower as the yield on the benchmark 10 year note moves sharply higher sending mortgage rates up. The Dow posted 2 days of triple digit losses in a row. All of the major averages ended the month of February with gains. Bitcoin hit a record high above $57,000 and ended the week about $10K below that. The latest on the markets, the economy and Bitcoin discussed with Dr. Mohamed El-Erian, President, Queens' College Cambridge, Chief Economic Advisor,...

Mottek On Money Special Edition focused on Southern California real estate and an impressive turnaround for the stock market with the Dow erasing about a 360 point intraday loss. The latest S&P Corelogic Case-Shiller Home Price index shows continuing price gains for Los Angeles and San Diego. The latest real estate trends discussed with Dr. Frank Nothaft, Chief Economist, Corelogic and Jordan Levine, Chief Economist, California Association of Realtors. On commercial real estate, Spencer...

Another record shattering week for stocks and cryptocurrency Bitcoin which soared above $56,000. Mixed readings out on the pandemic ravaged economy including jobless claims up 13K to 861K. Retail sales jumped a better than expected 5.3% in January. L.A. area gas prices edge higher as a severe winter snow storm paralyzes the fuel industry in Texas sending oil above $60/barrel. Analysis of the markets, the economy and Bitcoin from Dr. Mohamed El-Erian, President, Queens' College, Cambridge,...

Stocks end the week at record highs ahead of the three day Valentine’s Day / President's Day holiday weekend. Bitcoin grabs the spotlight after hitting a record high above $48,000 over the past week. Elon Musk's Tesla announced a $1.5B purchase of Bitcoin and plans to accept Bitcoin for vehicle purchases. Other companies including banking giant BNY Mellon announced plans to offer Bitcoin services. Analysis of the markets, the economy and cryptocurrencies from Dr. Mohamed El-Erian, President,...

Mottek On Money Special Edition focused on real estate. Guests: Economist Dr. Frank Nothaft, Chief Economist, Corelogic with the latest report on mortgage foreclosures and delinquencies in the pandemic recession. L.A. County Assessor Jeffrey Prang discusses Proposition 19, the first phase of which is set to be implemented next week impacting property taxes in California.  www.assessor.lacounty.gov Economist Jordan Levine, Chief Economist, California Association of Realtors.  Support the...

Stocks rack up a five day winning streak, the longest since August, and wrap up the week before Super Bowl Sunday at or near record highs. President Biden's $1.9T pandemic rescue package moved forward in the U.S. Senate and the latest encouraging news on vaccine distribution helped propel the market higher. The so called Reddit Rally stocks saw a volatile week with GameStop shares closing up 19% on Friday but posting a loss of 80% for the week. Analysis of the latest market action from Kevin...

Mottek On Money Special Edition covering Wall Street and Main Street during the pandemic. Today a special focus on the markets and real estate. Stocks rally on the latest earnings news, stimulus talks in Washington and vaccine distribution. The Dow closed up 476, Nasdaq gained 209 and the SP500 settled up 52. The so called Reddit Rally stocks which have seen big gains over the past week moved sharply lower including GameStop which closed down 60%, down $135 to $90. Silver slides 10%.  Oil...