President Recovers | Stocks Rally | Uncertainty Ahead

October 5, 2020 | Hoya Capital

President Recovers | Stocks Rally | Uncertainty Ahead Daily Recap Oct 5 Written By Daily Recap U.S. equity markets rallied Monday after President Trump announced he will return to the White House to continue his recovery from COVID-19, a recovery that was reportedly uncertain at times this weekend. Building on gains of 1.6% last week, the S&P 500 finished higher by 1.8% today while the tech-heavy Nasdaq 100 jumped 2.2% and the Dow Jones Industrial Average rallied 466-points.

After ending last week higher by more than 5%, the broad-based Equity REIT ETF (VNQ) finished higher by 0.5% today with 13 of 18 property sectors in positive territory. After leading the gains last week, net lease REITs lagged today on news that more than 500 movie theaters controlled by U.K-based Regal Entertainment Group will temporarily suspend operations. Following a strong slate of economic data last week, ISM data this morning showed a continued recovery in the services sector, rising to the highest level since the start of the pandemic.

We preview this week's economic calendar. Real Estate Daily Recap U.S. equity markets rallied Monday after President Trump announced he will return to the White House to continue his recovery from COVID-19, a recovery that was reportedly uncertain at times over the past 72 hours. Building on gains of 1.6% last week, the S&P 500 ETF ( SPY ) finished higher by 1.8% today while the tech-heavy Nasdaq 100 ( QQQ ) jumped 2.2% and the Dow Jones Industrial Average ( DIA ) rallied 466 points.

After ending last week higher by more than 5%, the broad-based Equity REIT ETF ( VNQ ) finished higher by 0.6% today with 13 of 18 property sectors in positive territory. Mortgage REITs ( REM ) gained 0.6% after ending last week with 4% gains. As discussed in our Real Estate Weekly Outlook , equity markets snapped a four-week losing streak last week on a frenetic ...