REITs Rally | Rents Paid | Jobs Day Preview

October 1, 2020 | Hoya Capital

REITs Rally | Rents Paid | Jobs Day Preview Daily Recap Oct 1 Written By Daily Recap U.S. equity markets finished higher Thursday following another solid slate of economic data ahead of the critical nonfarm payrolls report tomorrow morning, the final jobs report before Election Day next-month. Following gains of 0.8% yesterday, the S&P 500 finished higher by another 0.6% today while the tech-heavy Nasdaq 100 jumped 1.7% and the Dow Jones Industrial Average added 35 points.

Real estate equities were among the leaders today as the broad-based Equity REIT ETF (VNQ) finished higher by 2.0% today with all 18 property sectors in positive territory. The BEA reported today that personal incomes remain higher by 4.7% from last year, fueled by the existing stimulus measures which are already the largest since WWII. Initial Jobless Claims ticked slightly lower to 837k. Continuing Claims decreased to 11.7 million, and since the peak in early May at around 25 million Continuing Claims have retreated by 13.2 million.

Real Estate Daily Recap U.S. equity markets finished higher Thursday following another solid slate of economic data ahead of the critical nonfarm payrolls report tomorrow morning, the final jobs report before Election Day next month. Following gains of 0.8% yesterday, the S&P 500 ETF ( SPY ) finished higher by another 0.6% today while the tech-heavy Nasdaq 100 ( QQQ ) jumped 1.7% and the Dow Jones Industrial Average ( DIA ) added 35 points.

Real estate equities were among the leaders today as the broad-based Equity REIT ETF ( VNQ ) finished higher by 2.0% today with all 18 property sectors in positive territory. Mortgage REITs ( REM ) gained 0.7% after finishing lower by 0.1% yesterday. Equities have rallied over the last two days despite the continued stalemate on another round of fiscal stimulus, but strong economic data over the last week has allayed some concerns over the immediate urgency of more stimulus.

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