REITs Rally | Rent Updates | Return To Work

October 8, 2020 | Hoya Capital

REITs Rally | Rent Updates | Return To Work Daily Recap Oct 8 Written By Daily Recap Equity markets finished higher Thursday as signs of potential progress on a stimulus deal and a generally encouraging slate of employment data pushed the major averages to their highest-close in five-weeks. Adding to yesterday's 1.7% gains, the S&P 500 finished higher by 0.8% today while the tech-heavy Nasdaq 100 gained 0.6% and the Dow Jones Industrial Average gained 122 points.

Real estate equities led the way today with the broad-based Equity REIT ETF (VNQ) rallying by 1.7% with 17 of 18 property sectors in positive-territory while Mortgage REITs jumped 2.6%. Through Thursday, equity markets are on-pace for another week of strong gains, led by the Small-Cap (SLY) and Mid-Cap (MDY) indexes, which are on-pace to match their roughly 5% gains last week. Return to Work: Continuing Jobless Claims decreased to 10.98 million, down exactly one million from last week.

Since the peak in early May at around 25 million, Continuing Claims have retreated by 13.9 million. Real Estate Daily Recap U.S. equity markets finished higher Thursday as signs of potential progress on a stimulus deal and a generally encouraging slate of jobless claims data pushed the major averages to their highest close in five weeks. Adding to yesterday's 1.7% gains, the S&P 500 ETF ( SPY ) finished higher by 0.8% today while the tech-heavy Nasdaq 100 ( QQQ ) gained 0.6% and the Dow Jones Industrial Average ( DIA ) added 122-points.

Real estate equities led the way today with the broad-based Equity REIT ETF ( VNQ ) rallying by 1.7% with 17 of 18 property sectors in positive territory while the Mortgage REIT ETF ( REM ) jumped 2.6% today. Solid economic data this week and a "refreshingly normal" Vice Presidential debate last night appear to have instilled some confidence in a market that continues to get whipsawed from the on-again-off-again ...