Inflation Week • Rates Rebound • MPW Hits Back

April 10, 2023 | Hoya Capital

Inflation Week • Rates Rebound • MPW Hits Back Daily Recap Apr 10 Written By Alex Pettee, CFA U.S. equity markets finished mostly-higher Monday while benchmark interest rates rebounded as investors responded to last Friday's nonfarm payrolls report, which showed decent job growth alongside cooling wage pressures. After narrowly snapping its three-week winnings streak, the S&P 500 gained 0.1% today while the Mid-Cap 400 and Small-Cap 600 each gained more than 1%.

Real estate equities were among the leaders today despite the rebound in benchmark interest rates. The Equity REIT Index advanced 0.3% today with 14-of-18 property sectors in positive territory. Embattled hospital operator Medical Properties Trust (MPW) rallied over 3% after it issued a statement over the weekend to address content of a Wall Street Journal article published last week. Inflation is in the spotlight in another critical week of economic data.

The main event comes on Wednesday with the Consumer Price Index for March, which investors and the Fed are hoping will show a cooling of inflationary pressures. Income Builder Daily Recap U.S. equity markets finished mostly-higher Monday while benchmark interest rates rebounded as investors responded to last Friday's nonfarm payrolls report, which showed decent job growth alongside cooling wage pressures. After narrowly snapping its three-week winnings streak, the S&P 500 gained 0.1% today while the Mid-Cap 400 and Small-Cap 600 each gained more than 1%.

The Dow advanced 101 points. Real estate equities were among the leaders today despite the rebound in benchmark interest rates. The Equity REIT Index advanced 0.3% today with 14-of-18 property sectors in positive territory, but the Mortgage REIT Index dipped 1.7%. Unveiled to a closed U.S. equity market due to the Easter holiday, the critical BLS nonfarm payrolls report last Friday showed that the U.S. economy added 236k jobs in March - the lowest monthly increase since December 2020 - which followed a downside surprise in all five major employment reports: JOLTs, ...