Fed Speak • Amazon Layoffs • Mall Earnings

November 14, 2022 | Hoya Capital

Fed Speak • Amazon Layoffs • Mall Earnings Real Estate Daily Recap Nov 14 Written By U.S. equity markets declined Monday following their best weekly gains since June as investors parsed comments from Fed officials ahead of a busy week of housing, inflation, and retail data. Pulling back following gains of nearly 6% last week, the S&P 500 declined 0.9% today while the tech-heavy Nasdaq 100 also fell 0.9%. Real estate equities were among the laggards today after leading the gains in the prior week.

Equity REITs finished lower by 2.3% today while Mortgage REITs slipped 1.8%. Consumer-focused stocks were among the laggards today on reports that Amazon (AMZN) plans to fire 10,000 workers, the largest layoff in the company's history. Small-cap CBL Properties (CBL) - which emerged from a brief bankruptcy last November - was among the better performers today after reporting decent third-quarter results highlighted by improving occupancy rates and leasing spreads. Income Builder Daily Recap U.S. equity markets declined Monday following their best weekly gains since June as investors parsed comments from Fed officials ahead of a busy week of housing, inflation, and retail data.

Pulling back following gains of nearly 6% last week, the S&P 500 declined 0.9% today while the tech-heavy Nasdaq 100 also fell 0.9%. The Mid-Cap 400 and Small-Cap 600 were also off by about 1%. Real estate equities were among the laggards today after leading the gains in the prior week. The Equity REIT Index finished lower by 2.3% today while the Mortgage REIT Index declined by 1.8%. Homebuilders dipped more than 3% following their best week since April 2020.

Comments from Fed Vice Chair Brainard resulted in a choppy session across bond markets, who noted that it would “soon” be appropriate to slow the pace of rate hikes, but also emphasized that there was "additional work to do" to bring down inflation. Rebounding from a sharp decline last week in the ...