Vaccine Inbound? | Stocks Surge | Millennial Homebuying

September 2, 2020 | Hoya Capital

Vaccine Inbound? | Stocks Surge | Millennial Homebuying Daily Recap Sep 2 Written By Daily Recap U.S. equity markets rallied Wednesday with the major averages eclipsing all-time record highs after reports that the CDC has notified states to prepare for a vaccine as soon as early October. Following gains of 0.9% yesterday and eclipsing yet another record-high, the S&P 500 finished higher by 1.5% today while the Dow Jones Industrial Average surged 455 points.

Coming off fractional gains yesterday, Equity REIT ETFs finished higher by 2.0% today with all 18 property sectors in positive territory. Mortgage REITs closed higher by 0.1%. The strong performance came despite disappointing employment data from ADP, which estimated that private payrolls rose by 428k in August, which was below the 1.2 million expectations. Mortgage applications to purchase a single-family home are now higher by 28% from last year as the housing industry continues to lead the post-pandemic recovery.

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U.S. equity markets rallied Wednesday with the major averages eclipsing all-time record highs after reports that the Centers for Disease Control has notified states to prepare for a vaccine as soon as early October. Following gains of 0.9% yesterday and eclipsing yet another record-high, the S&P 500 ETF ( SPY ) finished higher by 1.5% today while the Dow Jones Industrial Average ( DJI ) surged 455 points. Coming off fractional gains yesterday, Equity REIT ETFs ( VNQ ) finished higher by 2.0% today with all 18 property ...