Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Weekly Outlook: Jobs, Jobs, Jobs

  • U.S. equity markets rallied this week, recovering last week’s coronavirus-related losses on indications that the outbreak may be contained, while strong domestic economic data and solid corporate earnings restored investor optimism.

  • After dropping more than 3% over the prior two weeks, the S&P 500 finished higher by 3.2% while the Dow Jones Industrial Average added more than 840 points.

  • Jobs, jobs, jobs. The U.S. economy recorded positive employment growth for a record-extending 112th consecutive month, precipitated by a return of previously discouraged workers back into the labor force.

  • REITs were broadly higher this week as earnings season hits high gear. The beaten-down mall REITs were the focus on a wild news week of potential mergers and acquisitions.

  • Homebuilders remain red-hot, confirmed by another round of strong earnings results, as the "Goldilocks" environment of low mortgage rates and continued job growth has powered robust demand for housing.

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Hoya Capital Real Estate, LLC

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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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