Red Ripple • Stocks Dip • REIT Earnings Wrap

November 9, 2022 | Hoya Capital

Red Ripple • Stocks Dip • REIT Earnings Wrap Real Estate Daily Recap Nov 9 Written By U.S. equity markets fell sharply Wednesday as investors parsed Election Day that failed to show the forecasted "Red Wave" with ultimate control of the Senate and House still undeclared. Snapping a three-day winning streak and erasing its weekly gains, the S&P 500 dipped by 2.1% today while the tech-heavy Nasdaq 100 declined 2.3%.

Real estate equities were among the stronger performers amid the final stretch of earnings season. Equity REITs slipped 1.0% while Mortgage REITs declined 0.3%. Bitcoin dipped more than 10% today -extending its weekly plunge to over 25% - as the largest crypto exchange FTX remains on the brink of insolvency following a dropped bailout bid from its rival Binance. Single-family rental REIT Tricon Residential (TCN) and net lease REIT Spirit Realty (SRC) were among the best performers today after raising their full-year earnings outlook.

Income Builder Daily Recap U.S. equity markets fell sharply Wednesday as investors parsed Election Day that failed to show the forecasted "Red Wave" with ultimate control of the Senate and House still undeclared. Snapping a three-day winning streak and erasing its weekly gains, the S&P 500 dipped by 2.1% today while the tech-heavy Nasdaq 100 declined 2.3%. Bitcoin dipped more than 10% today -extending its weekly plunge to over 25% - as the largest crypto exchange FTX remains on the brink of insolvency following a dropped bailout bid from its rival Binance .

Real estate equities were among the stronger performers amid the final stretch of earnings season with a handful of strong reports. The Equity REIT Index finished lower by 1.0% today with 2-of-18 property sectors in positive territory while the Mortgage REIT Index slipped 0.3%. Real Estate Daily Recap Best & Worst Performance Today Across the REIT Sector Net Lease : Spirit Realty ( SRC ) rallied more than 2% after rounding-out net lease ...