Daily Recap: Stocks Near Records | Earnings Season Ramps-Up | Housing Data Ahead

October 21, 2019 | Hoya Capital

Daily Recap: Stocks Near Records | Earnings Season Ramps-Up | Housing Data Ahead Uncategorized Oct 21 Written By US equity markets started the week on a strong note with the major indexes edging closer to new record-highs as earnings season kicks into high-gear this week. The S&P 500 ETF (SPY) gained 0.7% on the day, closing within 1% of record-highs while the Nasdaq ETF (QQQ) gained 0.8%, also closing within 1% of new all-time records.

The 10-Year yield climbed by 5 basis points to end the day at 1.79%, towards the higher-end of its 3-month range. As discussed in last week's Real Estate Weekly Outlook , REITs and homebuilders continue to lead the way as the "Goldilocks" economic conditions of low-interest rates and consumer-led growth continue to provide an ideal backdrop. Real estate equities were generally higher on the day with the broad-based REIT ETF (VNQ) ending the day higher by 0.6%, led by the mall, hotel, timber and shopping center REIT sectors.

Student Housing REIT American Campus (ACC) and manufactured housing REIT Equity Lifestyle (ELS) report earnings this afternoon. Last week, we published our Real Estate Earnings Preview . Below we compiled the notable earnings that we’re watching across the residential and commercial real estate sectors, which we will update throughout earnings season in our Real Estate Weekly Review . The Hoya Capital Housing Index , the benchmark that tracks the performance of the US housing industry, finished the day at another new closing high, gaining 0.5% on the day coming off 2.5% gains last week.

Lower mortgage rates have done wonders to revive the sputtering single-family housing market after the worst 8-12 month period since the housing crisis. Top individual performers today included real estate technology and brokerage firms: Realogy (RLGY), Zillow (Z), Re/Max (RMAX) and home furnishings names: Bed Bath & Beyond (BBBY), Wayfair (W), and Restoration Hardware (RH). It'll be another fairly busy week of economic ...