Inflation Week • Stocks Mixed • REIT Earnings

May 8, 2023 | Hoya Capital

Inflation Week • Stocks Mixed • REIT Earnings Daily Recap May 8 Written By Alex Pettee, CFA U.S. equity markets finished mixed Monday while benchmark interest rates ticked higher ahead of a critical week of inflation data, debt ceiling negotiations, and the final stretch of first-quarter earnings season. Trading in a tight range today following a turbulent prior week, the S&P 500 eked out a 0.1% advance, but the Mid-Cap 400 fell 0.3% and the Small-Cap 600 retreated 0.7%.

Real estate equities were mixed today as REIT earnings season winds down with the final two dozen reports over the next three days. The Equity REIT Index slipped 0.6% today. Inflation is in the spotlight in another jam-packed week of economic data in the week ahead. The main event comes on Wednesday with the Consumer Price Index followed by the Producer Price Index report on Thursday. This afternoon, we'll hear results from a pair of healthcare REITs: Ventas (VTR) and Diversified Healthcare (DHC) as well as cannabis REIT Innovative Industrial (IIPR) and farmland REIT Gladstone Land (LAND).

Explore hoya capital INVESTMENT RESEARCH Income Builder Daily Recap U.S. equity markets finished mixed Monday while benchmark interest rates climbed ahead of a critical week of inflation data, debt ceiling negotiations, and the final stretch of first-quarter earnings season. Trading in a tight range today following a turbulent prior week, the S&P 500 eked out a 0.1% advance today, but the Mid-Cap 400 fell 0.3%, and the Small-Cap 600 retreated 0.7%.

The Dow declined 56 points. Real estate equities were mixed today as REIT earnings season winds down with the final two dozen reports over the next three days, concluding an earnings season that has been stronger than expected. The Equity REIT Index slipped 0.6% today, with 11-of-18 property sectors in negative territory, while the Mortgage REIT Index gained 0.3%. As discussed in our Real Estate Weekly Outlook , equities are coming off a ...