Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Stocks Rally | Earnings Commence | Tepid Inflation

Daily Recap

  • U.S. equity markets rebounded strongly on Tuesday following a mid-day reversal on Monday as positive vaccine news, stimulus hopes, and solid bank earnings offset concern of reopening reversals.

  • Following a decline of 0.9% yesterday, the S&P 500 finished higher by 1.3% today while the Dow Jones Industrial Average surged by 557 points after gaining 11 points yesterday.

  • Bouncing back from losses of 1.2% yesterday, Equity REIT ETFs finished higher by 0.8% with 14 of 18 property sectors in positive territory while Mortgage REITs jumped 1.7%.

  • Homebuilders were among the leaders today after the MBA reported that mortgage applications for new home purchases surged 54.1% in June compared from a year ago and 20% from last month.

  • Core Consumer Price Index rose just 1.22% in June from last year, the lowest year-over-year rise in core inflation since 2010. Excluding shelter, however, Core CPI ex-Shelter rose a paltry 0.35% in June as inflation remains a distant concern.

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Hoya Capital Real Estate, LLC

(833) HOYA-CAP

Hoya Capital Real Estate ("Hoya Capital") is an SEC-registered investment advisory firm that provides investment management services to ETFs, individuals, and institutions, focusing on portfolio and index management of publicly traded securities in the real estate industry. It is not possible to invest directly in an index. Index performance cited in this website or commentary does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. Nothing on this site nor any published commentary by Hoya Capital is intended to be investment, tax, or legal advice or an offer to buy or sell securities. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and should not be considered a complete discussion of all factors and risks. Data quoted represents past performance, which is no guarantee of future results. Investing involves risk. Loss of principal is possible. Investments in companies involved in the real estate and housing industries involve unique risks, as do investments in ETFs, mutual funds, and other securities. Hoya Capital has no business relationship with any company discussed/mentioned. Hoya Capital never receives compensation from any company discussed/mentioned. Hoya Capital, its affiliate, and/or its clients and/or its employees may hold positions in securities or funds discussed on this website and our published commentary. A complete list of holdings and other important disclosures and definitions are available by clicking the links below.

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