Stocks Soar On Stimulus Hopes [Daily Recap]

March 10, 2020 | Hoya Capital

Stocks Soar On Stimulus Hopes [Daily Recap] Uncategorized Mar 10 Written By Following the worst day for global equity markets since the financial crisis, stocks soared on Tuesday on hopes of a substantial stimulus package to combat the continuing coronavirus outbreak. Coming off declines of 7.7% yesterday, the S&P 500 finished higher by 4.9% while the Dow Jones gained more than 1,160 points after declining over 2,000 points on Monday.

Bouncing back from 7.7% declines yesterday, the broad-based commercial Real Estate ETF (VNQ) finished higher by 4.2% with 16 of the 18 REIT sectors higher by at least 1%. Host Hotels, Park Hotels, and Southerly Hotels all announced today that they are withdrawing their full-year 2020 guidance due to the ongoing CV-19 outbreak. Home improvement retailers led the gains today in the housing sector as Home Depot and Lowe's were among the top performers.

Mortgage lenders also outperformed in anticipation of a historic wave of refinancing demand. Real Estate Daily Recap Following the worst day for global equity markets since the financial crisis, stocks soared on Tuesday on hopes of a substantial stimulus package to combat the continuing coronavirus outbreak. Coming off declines of 7.7% yesterday, the S&P 500 ETF ( SPY ) finished higher by 4.9% while the Dow Jones Industrial Average ( DIA ) gained more than 1,160 points after declining more than 2,000 points on Monday.

Bouncing back from 7.7% declines yesterday, the broad-based commercial Real Estate ETF ( VNQ ) finished higher by 4.2% with 16 of the 18 REIT sectors higher by at least 1%. To continue reading, 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 Farewell, Bull Market [Daily Recap] Next Next Picking Up The Pieces [Daily Recap]