The Hoya Capital US REIT Index finished the day lower by 0.1%, led to the upside by the single family rental, apartment, and manufactured housing REIT sectors. The shopping center, hotel, and mall REIT sectors were the relative underperformers on the day. The S&P 500 finished the day flat while the Nasdaq finished lower by 0.2%. At 2.50%, the 10-Year Yield finished the day higher by 3 basis points but remains roughly 75 basis points lower than it's peak last October following benign inflation data yesterday in the CPI report, but slightly warmer-than-expected data in PPI today.

The Hoya Capital US Housing Index finished higher by 0.4% led to the upside by the Homebuilding and Home Improvement Retail sectors. The strongest performers on the day were Restoration Hardware (RH), Trex (TREX), DR Horton (DHI), Whirlpool (WHR), and Beacon Roofing (BECN).

The Home Furnishings and Residential REIT sector were the relative underperformers on the day. Bed Bath Beyond (BBBY) dropped by more than 8% following earnings results yesterday afternoon, but remains higher by nearly 60% YTD. Overstock (OSTK), Williams Sonoma (WSM), and Costco (COST) all finished lower by 1.8% or more on the day.

The economic calendar for Friday includes Export and Import Prices and Consumer Confidence on Friday.

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