Peak Earnings | Stocks Rebound | REITs Boost Guidance

October 29, 2020 | Hoya Capital

Peak Earnings | Stocks Rebound | REITs Boost Guidance Daily Recap Oct 29 Written By U.S. equity markets rebounded Thursday on better-than-expected economic data that showed a continued improvement in the labor markets and a record surge in GDP growth in the third quarter. After flirting with "correction territory" yesterday, S&P 500 finished higher by more than 1% today while the Nasdaq 100 gained nearly 2% and the Dow Jones Industrial Average rebounded 139-points.

In the midst of the busiest 24 hours of REIT earnings season, the broad-based Equity REIT ETF (VNQ) finished higher by 1.2% today with 17 of 18 property sectors finishing higher. U.S. GDP surged by 33.1% in the third quarter - the biggest gain on record - while Jobless Claims data showed that the insured unemployment rate slid another 0.4 percentage points to just 5.1%, the lowest insured unemployment rate since February.

More than 50 equity and mortgage REITs have reported results over the last 48 hours. So far this earnings season, we've seen five dividend boosts and no additional dividend cuts. Real Estate Daily Recap U.S. equity markets rebounded Thursday on better-than-expected economic data that showed a continued improvement in the labor markets and a record surge in GDP growth in the third quarter. After flirting with "correction territory" yesterday, S&P 500 ETF ( SPY ) finished higher by more than 1% today while the tech-heavy Nasdaq 100 ( QQQ ) gained nearly 2% and the Dow Jones Industrial Average ( DIA ) rebounded 139 points following yesterday's 943 point-dip.

In the midst of the busiest 24 hours of real estate earnings season, the broad-based Equity REIT ETF ( VNQ ) finished higher by 1.2% today with 17 of 18 property sectors finishing in positive territory while the Mortgage REIT ETF ( REM ) jumped by 2.3%. Continued concerns over a " second wave " of the coronavirus outbreak were overmatched today by strong economic ...