Mottek On Money (February 1st, 2020)

Saturday, February 1st

Concerns about the economic impact of deadly coronavirus spreading in China send stocks moving lower after starting 2020 at record highs. The Dow wraps up the month of January with a 603 point one-day plunge, erasing 2020's gains. The U.K. breaks away from the E.U. in the long awaited "Brexit." The Fed holds the line on short term interest rates. Analysis on the major news of the week from Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach and extended market coverage with Mark Hulbert, Marketwatch columnist and publisher, Hulbert Digest. Mortgage rates touch three year lows. The legal cannabis business not playing out as expected in California with financial and health concerns being raised. The cannabis outlook discussed with Dr. Kevin Sabet, PhD, Co founder of Smart Approaches of Marijuana, former White House Drug Control Policy Advisor, Author, “Reefer Sanity: Seven Great Myths About Marijuana. He will be a panelist at the free Sheila Kar Health Foundation health seminar on February 8th in Beverly Hills.
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