Earnings Frenzy | Jobs Week | Stimulus Stalled
U.S. equity markets delivered strong gains Monday ahead of a frenzied week of corporate earnings results and employment data while investors await the final details of the stalled stimulus package.
Following a gain of 1.7% last week, the S&P 500 ETF gained 0.7% today to close at the highest level since February 21st while the Nasdaq closed at fresh record-highs.
After a strong week ahead of the busiest slate of earnings reports, the Equity REIT ETF finished lower by 1.3% today with 14 of 18 property sectors in negative territory.
A dozen REITs reported results today including net lease REITs Realty Income and National Retail and shopping center REITs Regency Centers and Brixmor Property.
Employment data highlights this week's busy economic calendar, headlined by ADP data on Wednesday, jobless claims on Thursday, and the BLS nonfarm payrolls report on Friday.