Alex Pettee, CFA- Alex Pettee, CFA
REITs Lead Stocks To Best Week Since 2009 [Daily Recap]
U.S. equity markets snapped a three-day winning streak on Friday despite the successful passage of the coronavirus stimulus bill through Congress, but still ended the week with double-digit percentage gains.
Following a combined 16% gain over the last three days, the S&P 500 gave back 3.4% while the Dow dipped 951 points after surging 4,000 points over the prior three-days.
Capping off its best week of all-time, the broad-based commercial Real Estate ETFs finished in the green again today, gaining 0.2% to push it's weekly gains to more than 17%.
Residential REITs led the way today as investors and analysts digested the potential impacts from stimulus measures passed this week on commercial and residential real estate owners.
We'll have full coverage of another wild week in our Real Estate Weekly Outlook report published tomorrow morning.
Real Estate Daily Recap
U.S. equity markets snapped a three-day winning streak on Friday despite the successful passage of the stimulus bill through Congress but still ended the week with double-digit percentage gains. Following a combined 16% gain over the last three days, theS&P 500 ETF(SPY) gave back 3.4% while the Dow Jones Industrial Average(DIA) dipped 951 points after surging 4,000 points over the prior three days. Adding to their three-day gain more than 20%, however, the broad-based commercial Real Estate ETF(VNQ) finished in the green again today, gaining 0.2% with 10 of the 18 REIT sectors in positive territory. Mortgage REITs(REM) took a breather after 40% gains over the past two days, declining by 2.7% on the day.
