Final Debate | Dividend Boosts | Housing Gets Hotter

October 22, 2020 | Hoya Capital

Final Debate | Dividend Boosts | Housing Gets Hotter Daily Recap Oct 22 Written By Daily Recap U.S. equity markets finished higher Thursday ahead of the final Presidential debate tonight as economic data showed continued strength behind the robust recovery in the housing and employment markets. Still lower by 0.8% on the week, the S&P 500 finished higher by 0.5% today while the Nasdaq 100 finished flat and the Dow Jones Industrial Average gained 153 points.

Despite 13 of 18 property sectors finishing in positive territory today, the broad-based Equity REIT ETF (VNQ) finished flat today following a busy 24 hours of REIT earnings reports. Three more equity REITs - GTY, CCI, PINE - raised dividends over the last 24 hours. 34 equity REITs have now raised distributions in 2020 compared to 65 that have reduced or suspended their dividend. Housing Gets Hotter: Existing Home Sales smashed estimates, climbing to 14-year highs in September.

Record-low inventory levels sent home prices surging by nearly 15% from last year. Real Estate Daily Recap U.S. equity markets finished higher Thursday ahead of the final Presidential debate tonight as economic data showed continued strength behind the robust recovery in the housing and employment markets. Still lower by 0.8% on the week, the S&P 500 ETF ( SPY ) finished higher by 0.5% today while the tech-heavy Nasdaq 100 ( QQQ ) finished flat and the Dow Jones Industrial Average ( DIA ) gained 153 points.

Despite 13 of 18 property sectors finishing in positive territory today, the broad-based Equity REIT ETF ( VNQ ) finished flat today following a busy 24 hours of REIT earnings reports while the Mortgage REIT ETF ( REM ) jumped 1.2% on the day. Technology stocks were under pressure today after Twitter ( TWTR ) and Facebook ( FB ) now face Congressional subpoenas amid an escalating controversy over the censorship of a series of press reports critical of ...