Fresh Records • Housing Heats-Up • Merry Christmas

December 23, 2021 | Hoya Capital

Fresh Records • Housing Heats-Up • Merry Christmas Daily Recap Dec 23 Written By Summary U.S. equity markets advanced for the third-straight day heading into the Christmas holiday as strong housing data offset economic data showing persistent inflation and slowing consumer spending. Closing the week at fresh record-highs and snapping a two-week skid, the S&P 500 advanced 0.6% today while the Mid-Cap 400 gained 0.7% and the Small-Cap 600 climbed 0.5%.

Real estate equities were mixed today, however, as the Equity REIT Index slipped 0.1% today with 8-of-19 property sectors in positive territory while Mortgage REITs advanced 1.0%. Housing market data brought some much-needed "cheer" to the broader market. A "gift that keeps on giving," the U.S. housing industry has provided stability during times of economic uncertainty over the past two years. New Home Sales climbed to a seven-month high in November, according to data released this morning by the BLS, rising more than 12% from last month as supply chain bottlenecks slowly begin to ease.

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U.S. equity markets advanced for the third-straight day heading into the Christmas holiday as strong housing data offset economic data showing persistent inflation and slowing consumer spending. Closing the week at fresh record-highs and snapping a two-week skid, the S&P 500 advanced 0.6% today while the Mid-Cap 400 gained 0.7% and the Small-Cap 600 climbed 0.5%. Real estate equities were mixed today, however, as the Equity REIT Index slipped 0.1% today with 8-of-19 property sectors ...