Mottek On Money (Weekend of October 31st, 2020)
Podcast |
Mottek On Money
Media Type |
audio
Categories Via RSS |
Business
Business News
Investing
News
Tech News
Technology
Publication Date |
Oct 31, 2020
Episode Duration |
00:29:28

Stocks rack up the biggest weekly loss since the pandemic sell off in March. Money came off the table on rising coronavirus cases in the U.S. and Europe, uncertainty ahead of the November 3rd presidential election and no additional economic rescue money coming from Washington any time soon. The Dow ended the week with a closing loss of 157 points to 26,502, down 6.5% for the week and down 4.6% for October. Big tech stocks including Apple also got slammed with the Nasdaq falling 5.5% for the week and down 2.3% for the month. The economy posted an historic rebound of 33.1% in Q3, weekly jobless claims fell 40K to 751K, a pandemic low.  Analysis on the markets and the economy from Dr. Mohamed El-Erian, President, Queens College Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, Kevin O'Leary a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETF's and Beanstox. Culver City based mobile video game giant Jam City will serve the community as an early voting center on Monday, November 2nd. Jam City co founder, President and COO Josh Yguado discusses the company's election plans and video game success. (Voters in LA County can vote at any official polling location, and may vote at Jam City's Culver City headquarters, outdoors, on November 2, 2020, from 10am to 7pm at 3562 Eastham Dr, Culver City, CA 90232. Voters can also drop off Vote by Mail ballots at this location.)

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