Real Estate Rally Continues [Daily Recap]
- U.S. equity markets finished lower on Thursday as coronavirus-related fears crept back amid another busy day of corporate earnings and economic data.
- The S&P 500 finished lower by 0.1% while the Dow Jones Industrial Average declined by 128 points, but both major averages remain firmly higher for the week.
- The 10-Year Treasury Yield declined by 1 basis point as CPI inflation data came in roughly as-expected this morning. Reaccelerating rent inflation explained the mild uptick in Core CPI.
- The broad-based commercial Real Estate ETF (VNQ) was among the leaders again today, gaining 0.6% led by the residential REIT sectors ahead of a jam-packed afternoon of earnings.
- Redfin jumped nearly 20% after the tech-focused broker reported an 88% jump in revenue, powered by increased housing market activity in late 2019, leading the housing index to fresh record highs.
