Homebuilders Lead Historic Surge [Daily Recap]
- U.S. equity markets bounced back on Tuesday with one of the best single-day gains for stocks of all-time amid signs that Congress was nearing a deal on a massive stimulus.
- Indications of a slowdown in the coronavirus outbreak in Italy and suggestions that segments of the U.S.-workforce may return to work by April lifted many of the most beaten-down sectors.
- Following a 2.6% decline yesterday, the S&P 500 jumped 9.4% while the Dow Jones Industrial Average gained 2,112 points, which the largest one-day point gain of all-time.
- The broad-based commercial Real Estate ETFs finished today higher by 9.0% with all 18 REIT sectors higher by at least 3.5, led by a nearly 30% surge from the billboard REIT sector.
- Homebuilders surged more than 25%, recovering nearly half of their YTD losses in a single-session. New Home Sales data this morning blew past estimates in February as the housing market was firing on all cylinders before the coronavirus crisis.
Real Estate Daily Recap
U.S. equity markets bounced back on Tuesday with one of the best single-day gains for stocks of all-time amid signs that Congress was nearing a deal on a massive fiscal stimulus package. Indications of a slowdown in the coronavirus outbreak in Europe and suggestions that segments of the U.S. workforce may return to work by April lifted many of the most beaten-down equity sectors. Following a 2.6% decline yesterday, the S&P 500 ETF(SPY) jumped 9.4% while the Dow Jones Industrial Average(DIA) gained 2,112 points, the largest point gain of all-time. The broad-based commercial Real Estate ETF(VNQ) finished today higher by 9.0% with all 18 REIT sectors higher by at least 3.5, led by a nearly 30% surge from the billboard REIT sector.
