• Alex Pettee, CFA

Banner Quarter For Stocks | REITs Rebound | Home Prices Rise

Daily Recap

  • U.S. equity markets ended a volatile second quarter with solid gains on Tuesday despite continued pandemic-related concerns, helping to lift the major indexes to their best quarter in decades.

  • Ending the quarter with gains of roughly 20%, the S&P 500 finished higher by 1.5% today while the Dow Jones notched its best quarter since 1987 with gains of 18%.

  • Finishing the quarter with gains of roughly 12%, the broad-based Equity REIT ETFs gained 1.2% on the day with 15 of 18 property sectors in positive territory.

  • Homebuilders gained following yesterday's record-setting Pending Home Sales data and home price data today showing a continued acceleration in home price appreciation even in the worst of the "shutdown months."

  • A jam-packed slate of employment data is released over the next two days on the holiday-shortened week while investors continue to monitor a mix of encouraging and worrisome coronavirus data.

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