Stocks Slide | COVID Concerns | Earnings On Tap

October 26, 2020 | Hoya Capital

Stocks Slide | COVID Concerns | Earnings On Tap Daily Recap Oct 26 Written By Daily Recap U.S. equity markets finished sharply lower Monday on renewed concerns over a "second wave" of the coronavirus pandemic after several European countries reimposed "lockdown" measures this weekend. Coming off declines of 0.4% last week, the S&P 500 declined by 1.9% today while the Nasdaq 100 finished lower by 1.5% and the Dow Jones Industrial Average slid 650-points.

The broad-based Equity REIT ETF (VNQ) was a relative outperformer today ahead of a busy week of earnings with declines of 1.5% as 16 of 18 property sectors finished in negative territory. New Home Sales in September pulled back slightly from last month but were higher by 32.1% from last year. On Thursday, we'll get our first look at third-quarter Gross Domestic Product which is likely to show record-breaking economic growth last quarter.

We'll see a jam-packed slate of real estate earnings results over the next 24 hours. This afternoon, American Campus (ACC), QTS Realty (QTS), Retail Opportunities (ROIC), Whitestone REIT (WSR), and Alexandria Real Estate (ARE) reported results. Real Estate Daily Recap U.S. equity markets finished sharply lower Monday on renewed concerns over a "second wave" of the coronavirus pandemic after several European countries reimposed "lockdown" measures this weekend while stimulus talks have failed to advance.

Coming off modest declines of 0.4% last week, the S&P 500 ETF ( SPY ) declined by 1.9% today while the tech-heavy Nasdaq 100 ( QQQ ) finished lower by 1.5% and the Dow Jones Industrial Average ( DIA ) slid 650 points. The broad-based Equity REIT ETF ( VNQ ) was a relative outperformer today ahead of a busy week of earnings with declines of 1.5% with 16 of 18 property sectors finishing in negative territory while the Mortgage REIT ETF ( REM ) declined by 2.7% today.

As discussed in our Real Estate Weekly Outlook , concerns ...