Daily Recap: Fresh Records | REITs Mixed | Economic Data-Dump
A flurry of economic data releases ahead of the Thanksgiving holiday were generally stronger-than-expected, helping to power the major US equity indexes to fresh record highs. After snapping it's six-week winning streak last week, the S&P 500 ETF (SPY) climbed for the third straight day with gains of 0.5% while the Nasdaq ETF (QQQ) gained 0.7%. The 10-Year Treasury Yield (IEF) climbed by 3 basis points to close at 1.77%. The broad-based Real Estate ETF (VNQ) climbed for the third straight day as well, gaining 0.4%, led by the hotel, data center, and healthcare REIT sectors while the cell tower, storage, and single family rental REIT sectors finished modestly lower.