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  • Alex Pettee, CFA

Daily Recap: Strong Week Continues For REITs And Housing

  • U.S. equity markets recovered early-session losses to finish mostly unchanged as earnings season heats-up while investors continue to monitor the status of the coronavirus flare-up in China.

  • The S&P 500 gained 0.1% while oil prices extended their declines, dipping to 7-week lows, helping to pull down the 10-Year Treasury Yield lower by 3 basis points to 1.74%.

  • The broad-based commercial Real Estate ETF (VNQ) gained 0.6% on the day with fourteen of the sixteen sectors finishing in the green, led by industrial, prison, and healthcare REITs.

  • The strong run for homebuilders and the broader housing industry continued as well, with the Hoya Capital Housing Index gaining 0.8% to close at fresh record-highs.

  • Few sectors benefit more from "Goldilocks" conditions of low inflation and moderate economic growth than the commercial and residential real estate sectors, which are again among the top performers this week.

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