• Alex Pettee, CFA

REITs Rebound On Plans To Reopen America [Daily Recap]

  • U.S. equity markets finished sharply higher on Friday, recording a second-straight week of gains, as states around the country have begun a phased re-opening of segments the economy.

  • Powering the gains was positive reports about Gilead's trails of Remdesivir along with an antibody study from Stanford showing that death rates from COVID-19 may be more flu-like than previously feared.

  • Ending the week with gains over 2%, the S&P 500 gained 2.7% on the day while the Dow Jones Industrial Average jumped 700 points following yesterday's 450 point decline.

  • Real estate equities rebounded with the broad-based Equity REIT ETFs gaining 3.3% with all 18 REIT sectors in positive territory while Mortgage REITs jumped 7.9%.

  • We'll have a full review of this week's performance in our Real Estate Weekly Review published tomorrow morning.

Real Estate Daily Recap

U.S. equity markets finished sharply higher on Friday, recording a second-straight week of gains, as states around the country have begun a phased re-opening of segments the economy. Powering the gains was speculation about positive results from Gilead's (GILD) clinical trails of their coronavirus treatment, Remdesivir, along with an antibody study from Stanford showing that death rates may be similar to influenza than previously believed. Ending the week with gains over 2%, the S&P 500 ETF (SPY) gained 2.7% on the day while the Dow Jones Industrial Average (DIA) jumped 700 points following yesterday's 450 point decline. Real estate equities rebounded with the broad-based Equity REIT ETFs (VNQ) (SCHH) gaining 3.3% with all 18 REIT sectors in positive territory while Mortgage REITs (REM) jumped 7.9%.

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