Mottek On Money (Weekend of June 5th, 2020)

Mottek On Money
Friday, June 5th
Stocks rally on the unexpectedly positive surprises in the May jobs report showing unemployment ticking lower to 13.3% and 2.5 million jobs were added to the economy after the lifting of some coronavirus lockdowns. Most analysts were expecting another big jump in unemployment and another drop in hiring. The Dow closed up 829 points. The Nasdaq touched a new intraday high closing up 198 points, ending the week just three points below its record high. Many business leaders release statements in support of protestors calling for justice in the death of George Floyd and condemning racism.  The latest on Wall Street and Main Street discussed with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, Kevin O'Leary, Mr. Wonderful on TV's Shark Tank, Chairman, O'Leary Financial Group, O'Share's ETF's and Beanstox , and John Kabateck, California Director, National Federation of Independent Business