Euphoria Fades | Inflation Cools | Jobs Recovery Continues

November 12, 2020 | Hoya Capital

Euphoria Fades | Inflation Cools | Jobs Recovery Continues Daily Recap Nov 12 Written By U.S. equity markets finished lower Thursday despite encouraging economic data as the initial "vaccine rally" faded amid a continued acceleration in recorded coronavirus cases across the world. Giving back about half of its gains this week, the S&P 500 finished lower by 1.0% today while the Dow Jones Industrial Average slid 317-points. The Nasdaq 100 declined 0.5%.

Hanging onto roughly 4% gains on the week, the broad-based Equity REIT ETF (VNQ) slipped 1.3% with 16 of 18 property sectors in negative territory while Mortgage REITs dipped 2.3%. While there is a "light at the end of the tunnel" following the encouraging vaccine news from Pfizer's (PFE) earlier this week, it appears that the vaccine won't come soon enough to prevent a "third wave" of targeted economic shutdowns in several hotspots around the country.

Inflation data showed signs of stalling-out following several months of hotter-than-expected data. Core CPI was cooler than expected in October, rising less than 0.1% from last month. Real Estate Daily Recap U.S. equity markets finished lower Thursday despite encouraging economic data as the initial "vaccine rally" faded amid a continued acceleration in recorded coronavirus cases across the world. Giving back about half of its gains this week, the S&P 500 ETF ( SPY ) finished lower by 1.0% today while the Dow Jones Industrial Average ( DIA ) slid 317 points and the Nasdaq 100 ( QQQ ) declined by 0.5%.

Hanging onto strong gains of roughly 4% on the week, the broad-based Equity REIT ETF ( VNQ ) slipped 1.3% today with 16 of 18 property sectors in negative territory while the Mortgage REIT ETF ( REM ) dipped 2.3% but remains higher by almost 6% this week. While there is a "light at the end of the tunnel" following the encouraging vaccine news from Pfizer's ( PFE ) earlier this ...