REITs Rally | Risk-On | Jobs Week

September 28, 2020 | Hoya Capital

REITs Rally | Risk-On | Jobs Week Daily Recap Sep 28 Written By Daily Recap U.S. equity markets rallied Monday ahead of a frenetic week of economic data and contentious political debate as investors look for a re-entry point with equity indexes in-or-near "correction territory." Coming off four straight weeks of declines, the S&P 500 finished higher by 1.6% today while the tech-heavy Nasdaq 100 jumped 1.9%. The Dow Jones Industrial Average added 410-points.

After sliding by 3.1% last week, real estate equities were among the leaders today with the broad-based Equity REIT ETF finishing higher by 2.0% today all 18 sectors in positive-territory. The "shutdown sensitive" property sectors led the gains today. Ashford Hospitality (AHT) jumped 25% today as the firm's corporate governance practices have come into the cross-hairs of proxy voting firm ISS and investment firm Cygnus Capital. Employment data highlights this week's jam-packed economic calendar, headlined by ADP Employment data on Wednesday, Jobless Claims on Thursday, and the BLS Nonfarm Payrolls report on Friday.

Real Estate Daily Recap U.S. equity markets rallied Monday ahead of a frenetic week of economic data and contentious political debate as investors look for a re-entry point with equity indexes in-or-near "correction territory." Coming off four straight weeks of declines, the S&P 500 ETF ( SPY ) finished higher by 1.6% today while the tech-heavy Nasdaq 100 ( QQQ ) jumped 1.9% and the Dow Jones Industrial Average ( DIA ) added 410 points.

After sliding by 3.1% last week, real estate equities were among the leaders today with the broad-based Equity REIT ETF ( VNQ ) finishing higher by 2.0% today all 18 property sectors in positive territory. Mortgage REITs ( REM ) gained 3.3% after last week's 6.1% decline. As discussed in our Real Estate Weekly Recap , U.S. equity market have been pressured in recent weeks by "supreme uncertainty" amid the contentious U.S. election season and lingering coronavirus concerns ...