Inflation Week • Return To Office? • Storage In Focus

August 7, 2023 | Hoya Capital

Inflation Week • Return To Office? • Storage In Focus Daily Recap Aug 7 Written By Alex Pettee, CFA U.S. equity markets rebounded Monday following their worst week since April as bond markets stabilized ahead of another busy week of corporate earnings results and the critical CPI and PPI inflation reports. Snapping a four-day losing streak, the S&P 500 advanced 0.9%, while the Dow Jones Industrial Average gained 408 points.

Real estate equities were among the leaders today ahead of the final stretch of earnings season over the next several days. Led by office and self-storage REITs, the Equity REIT Index advanced 1.3% today Several of the most beaten-down coastal office REITs rallied today after tech-firm Zoom - a company that has been the "poster child" of the Work from Home Era - made a splash by calling its employees back to the office.

The Wall Street Journal published an in-depth column on the state of the self-storage industry this morning which focused, in part, on the remarkably strong performance of the industry since the start of the pandemic. Explore hoya capital INVESTMENT RESEARCH Income Builder Daily Recap U.S. equity markets rebounded Monday following their worst week since April as bond markets stabilized ahead of another busy week of corporate earnings results and the critical CPI and PPI inflation reports.

Snapping a four-day losing streak, the S&P 500 advanced 0.9%, while the Dow Jones Industrial Average gained 408 points. Mid-caps and Small-Caps posted more muted advances following notable outperformance last week. Real estate equities were among the leaders today ahead of the final stretch of earnings season over the next several days. Led by office and self-storage REITs, the Equity REIT Index advanced 1.3% today, with 17-of-18 property sectors finishing in positive territory, while the Mortgage REIT Index slipped 0.1%.

Inflation data is in the spotlight in another jam-packed week of economic data in the week ahead. The main event ...