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  • Alex Pettee, CFA

Stimulus Rally | Casino Merger | School In Session?

Daily Recap

  • U.S. equity markets finished mostly higher on Tuesday, gaining ground after the signing of a new stimulus package from the EU and data showing a deceleration in coronavirus cases counts.

  • Following gains of 0.8% yesterday, the S&P 500 finished higher by 0.2% today while the tech-heavy Nasdaq declined by 0.8%, retreating from yesterday's record-highs.

  • After dipping 1.2% on Monday, the Equity REIT ETF finished higher by 0.2% today with 11 of 18 REIT sectors in positive territory while the Mortgage REIT ETF gained 1.5%.

  • Industrial REITs still haven't skipped a beat since the start of the pandemic. Prologis reported strong Q2 results this morning and raised full-year guidance, while Rexford reported similarly strong metrics this afternoon.

  • Student Housing REIT American Campus reported that 90% of beds are leased for the Fall 2020 semester and that 63 of the 68 universities it serves plan to have in-person classes.

To read the full report, click here to visit Seeking Alpha!

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