Supreme Uncertainty | REITs Dip | Stimulus Hopes Dashed

September 21, 2020 | Hoya Capital

Supreme Uncertainty | REITs Dip | Stimulus Hopes Dashed Daily Recap Sep 21 Written By Daily Recap U.S. equity markets finished lower Monday as the prospects for another round of fiscal stimulus dimmed as investors gear-up for a "supreme" political battle ahead of the November election. Following three-straight weeks of losses, the S&P 500 slipped another 1.2% today while the tech-heavy Nasdaq 100 finished lower by 0.1%. The Dow Jones dipped 510 points.

Real estate equities, particularly the economically-sensitive property sectors, were under pressure today as the Equity REIT ETF (VNQ) finished lower by 3.0% today with all 18 property sectors in negative-territory. REITs were coming-off a strong week after an encouraging slate of dividend news and rent collection updates. We expect another busy week of dividend news and business updates. We have another busy slate of economic and housing data in the week ahead as well.

We'll see Existing Home Sales data tomorrow and New Home Sales data on Thursday as investors will see if the housing industry can continue to lead the economic recovery. Real Estate Daily Recap U.S. equity markets finished lower Monday as the prospects for another round of fiscal stimulus dimmed as investors gear up for a "supreme" political battle ahead of the November election. Following three-straight weeks of losses, the S&P 500 ETF ( SPY ) slipped another 1.2% today while the tech-heavy Nasdaq 100 ( QQQ ) finished lower by 0.1%.

Real estate equities, particularly the economically-sensitive property sectors, were under pressure today as the broad-based Equity REIT ETF ( VNQ ) finished lower by 3.0% today with all 18 property sectors in negative territory. The Mortgage REIT ETF ( REM ) slipped 3.2% today after jumping by 4% last week. As discussed in our Real Estate Weekly Outlook , the death of Justice Ruth Bader Ginsberg and subsequent Supreme Court vacancy throws another curveball into an already contentious U.S. election season and ...