Tech Surges | REITs Flat | Earnings Ahead

October 12, 2020 | Hoya Capital

Tech Surges | REITs Flat | Earnings Ahead Daily Recap Oct 12 Written By Daily Recap U.S. equity markets added to last week's gains on Monday, gaining ground ahead of a busy week of economic data and the commencement of Q3 earnings season. Coming off gains of 3.9% last week - its best week in three months - the S&P 500 finished higher by 1.6% today while the tech-heavy Nasdaq 100 jumped 3.1%.

Following gains of 1.3% last week, the broad-based Equity REIT ETF (VNQ) finished higher by 0.6% today with 15 of 18 property sectors in positive territory. Earnings season "formally" kicks off tomorrow with JP Morgan (JPM), Citigroup (C), and Johnson & Johnson (JNJ) reporting results. It's expected to be a fairly quiet week of REIT-related news flow ahead of the start of real estate earnings season next week. After a quiet week of economic data, we'll also see a busy slate of inflation, housing, and retail sales data in the week ahead.

Tomorrow, we'll see CPI Inflation data and on Friday, we'll see Homebuilder Sentiment and Retail Sales data. Real Estate Daily Recap U.S. equity markets added to last week's gains on Monday, gaining ground ahead of a busy week of economic data and the commencement of Q3 earnings season while investors look for signs of progress on fiscal stimulus negotiations. Coming off gains of 3.9% last week - its best week in three months - the S&P 500 ETF ( SPY ) finished higher by 1.6% today while the tech-heavy Nasdaq 100 ( QQQ ) jumped 3.1% and the Dow Jones Industrial Average ( DIA ) added 251-points.

Following gains of 1.3% last week, the broad-based Equity REIT ETF ( VNQ ) finished higher by 0.6% today with 15 of 18 property sectors in positive territory. The Mortgage REIT ETF ( REM ) gained 0.7% today after ending last week with gains of 1.3%. Earnings season ...