Alex Pettee, CFA
Daily Recap: REITs Up | Stocks Flat | Homebuilders Confident
Kicking off a busy week of housing data and key earnings reports from retailers including Home Depot (HD) and Lowe's (LOW), US equity markets traded in a tight range with the major averages finishing the day fractionally higher. Coming off its sixth straight week of gains, the S&P 500 ETF (SPY) edged higher by less than 0.1% while the Nasdaq ETF (QQQ) finished higher by 0.1%. After hitting four-month highs earlier this month at 1.97%, the 10-Year Treasury Yield (IEF) continues to pull-back on reduced inflation expectations, ending the day lower by 3 basis points to close at 1.81%.