Mottek On Money (Weekend of July 4th, 2020)

Early fireworks on Wall Street on the better than expected June jobs report showing the economy added 4.8M jobs last month and the nation's unemployment rate fell to 11.1%. The market rallied but came off the best levels of the day on new alarming numbers on coronavirus cases in California, Florida and other states prompting some business re-closings and new restrictions for this Fourth of July holiday weekend. Tech stocks drove the latest rally. The Nasdaq finished the holiday shortened week at a record high. Analysis of the markets and the economy with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO. Los Angeles business and civic leader Rick Caruso, CEO, Caruso, developer of shopping destinations including The Grove, provides an update on retail, restaurants and meeting the new challenges in the coronavirus crisis. Economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center updates the urgent work underway to achieve a Covid-19 vaccine and treatments.
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