Crypto Crisis • Stocks Rally • China Eases Restrictions

November 11, 2022 | Hoya Capital

Crypto Crisis • Stocks Rally • China Eases Restrictions Real Estate Daily Recap Nov 11 Written By U.S. equity markets advanced Friday- posting their best weekly gains since June- sparked by a trio of positive market developments: cooling inflation, China reopenings, and a divided government in Washington. Pushing its gains to nearly 6% for the week, the S&P 500 advanced another 0.9% today while the tech-heavy Nasdaq 100 rallied nearly 2%.

Real estate equities were mixed today - but were among the leaders on the week - as the Equity REIT Index finished flat today while the Mortgage REIT Index advanced 1.6%. While investor sentiment may be beginning to improve, consumer sentiment remained historically downbeat according to the latest University of Michigan survey released this morning with the headline Consumer Sentiment Index diving to its lowest level since June. Somewhat obscured by the focus this week on midterm elections and CPI inflation, cryptocurrency markets remain in turmoil following the implosion of FTX - one of the largest crypto exchanges.

Income Builder Daily Recap U.S. equity markets advanced Friday - posting their best weekly gains since June - sparked by a trio of positive market developments: cooling CPI inflation, China reopenings , and a divided government in Washington. Pushing its gains to nearly 6% for the week, the S&P 500 advanced another 0.9% today while the tech-heavy Nasdaq 100 rallied nearly 2%. Real estate equities were mixed today - but were among the leaders on the week - as the Equity REIT Index finished flat today while the Mortgage REIT Index advanced 1.6%.

Homebuilders extended their weekly gains to over 10% as the 30-Year Mortgage Rate pulled back by nearly 50 basis points in two days. Somewhat obscured by the focus this week on midterm elections and CPI inflation, cryptocurrency markets remain in turmoil following the implosion of FTX - one of the largest crypto exchanges. Bitcoin extended its weekly declines ...