Mottek On Money

Stocks reach for new highs then retreat after lawmakers in Washington pack it in until after Labor Day without reaching a deal on another rescue package for the coronavirus ravaged economy. The SP500 moved in to new high territory before pulling back, closing down a fraction, putting it about 14 points below the record closing high achieved in February as the covid crisis hit  Gold pulls back for the first time in nine weeks after a record run up above $2000/ounce. Retail sales tick up for the third month in a row. L.A. leads the nation in permanent business closings during the pandemic. The retail landscape continues to evolve. Analysis of the markets and the economy from Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, and Los Angeles business and civic leader Rick Caruso, CEO, Caruso, developer of the most successful shopping destinations in Southern California including The Grove, Americana at Brand, Palisades Village and Commons at Calabasas. Support the show: http