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  • Alex Pettee, CFA

Did We Find The Bottom? [Daily Recap]

  • On a relatively calm day by coronavirus crisis standards, U.S. equity markets bounced back on Thursday led by many of the most recently-beaten-down equity sectors.

  • After a dip of 5% yesterday, the S&P 500 finished today higher by 0.5% while the Dow Jones Industrial Average gained 188 points after dipping 1,300 points yesterday.

  • The broad-based commercial Real Estate ETF gained 0.4% today led by a recovery in the most hardest-hit areas of the real estate sector including malls, hotels, and healthcare REITs.

  • Homebuilders and other housing-related names, which were red-hot before the coronavirus crisis, bounced back strongly today amid an especially rough month for residential real estate equities.

  • Initial jobless claims climbed to 281k last week, not as bad as many economists feared. Next week's report is expected to show a historic (but hopefully temporary) jump.

Real Estate Daily Recap

On a relatively calm day by coronavirus crisis standards, U.S. equity markets bounced back on Thursday led by many of the most recently-beaten-down equity sectors as policymakers and central banks continue to take action to combat the economic effects of the virus-related shutdowns. After a dip of 5% yesterday, the S&P 500 ETF (SPY) finished today higher by 0.2% while the Dow Jones Industrial Average (DIA) gained 188 points after dipping 1,300 points yesterday. Following a nearly 10% dip yesterday, the broad-based commercial Real Estate ETF (VNQ) gained 0.4% today led by a recovery in the mall, hotel, and healthcare sectors while the recently-outperforming REIT sectors including data centers and cell towers were among the laggards.

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Hoya Capital Research & Index Innovations is an affiliated index provider and research firm that builds custom indexes tracking U.S. commercial and residential real estate sectors, including indexes tracked by exchange-traded funds (ETFs). 

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