Reopenings Retracted | Rally Reversed | Earnings Ahead

July 13, 2020 | Hoya Capital

Reopenings Retracted | Rally Reversed | Earnings Ahead Uncategorized Jul 13 Written By Daily Recap U.S. equity markets reversed early-session gains on Monday, finishing mostly lower after California announced a reimposition of economic lockdowns on many services-oriented businesses amid an uptick in confirmed virus cases. Following gains of 1.7% last week, the S&P 500 finished lower by 0.9% today while the Dow Jones Industrial Average finished roughly flat, more than 500 points below its intra-day-high.

After finishing last week lower by 2.4%, Equity REIT ETFs finished lower by another 1.2% today with 15 of 18 property sectors in negative territory while Mortgage REITs fell 0.3%. Following a fairly slow week of economic data, we have a busy slate of economic data in the week ahead, as well as the official start of second-quarter earnings season with the "big banks" reporting results. REIT earnings season kicks off a week from today.

As with Q1 earnings season, rent collection and dividend cuts/resumptions are expected to be the primary focus of investors in the second quarter. To read the full report, click here to visit Seeking Alpha! Comments (0) Newest First Oldest First Newest First Most Liked Least Liked Add Comment --> Preview Edit --> Post Comment… Previous Previous Stocks Rally | Earnings Commence | Tepid Inflation Next Next Whistling Past The Graveyard? Cracks Emerge As Rally Continues