Stocks Retreat From Records, REITs Outperform [Daily Recap]
U.S. equity markets snapped a four-day winning streak on Friday despite a strong nonfarm payrolls report this morning, but still finished the week with gains of more than 3%.
The S&P 500 finished lower by 0.5%, retreating from yesterday's record-highs, while the Dow Jones Industrial Average declined by 277 points.
Weak economic data from Germany and signs of labor market slack domestically pressured interest rates, pulling the 10-Year Treasury Yield lower by 6 basis points to end at 1.58%.
The broad-based commercial Real Estate ETF (VNQ) outperformed with fractional gains, led by the cell tower, storage, and manufactured housing REIT sectors.
Stay tuned for full coverage of this week's economic data in our Real Estate Weekly Outlook report published tomorrow morning.