REITs Lead Stocks To Best Week Since 2009 [Daily Recap]
- U.S. equity markets snapped a three-day winning streak on Friday despite the successful passage of the coronavirus stimulus bill through Congress, but still ended the week with double-digit percentage gains.
- Following a combined 16% gain over the last three days, the S&P 500 gave back 3.4% while the Dow dipped 951 points after surging 4,000 points over the prior three-days.
- Capping off its best week of all-time, the broad-based commercial Real Estate ETFs finished in the green again today, gaining 0.2% to push it's weekly gains to more than 17%.
- Residential REITs led the way today as investors and analysts digested the potential impacts from stimulus measures passed this week on commercial and residential real estate owners.
- We'll have full coverage of another wild week in our Real Estate Weekly Outlook report published tomorrow morning.
Real Estate Daily Recap
U.S. equity markets snapped a three-day winning streak on Friday despite the successful passage of the stimulus bill through Congress but still ended the week with double-digit percentage gains. Following a combined 16% gain over the last three days, theS&P 500 ETF(SPY) gave back 3.4% while the Dow Jones Industrial Average(DIA) dipped 951 points after surging 4,000 points over the prior three days. Adding to their three-day gain more than 20%, however, the broad-based commercial Real Estate ETF(VNQ) finished in the green again today, gaining 0.2% with 10 of the 18 REIT sectors in positive territory. Mortgage REITs(REM) took a breather after 40% gains over the past two days, declining by 2.7% on the day.
