Light At The End Of The Tunnel? [Daily Recap]
- U.S. equity markets rebounded on Tuesday - rising for the fourth day out of the past six - amid mounting evidence that the "coronavirus curve" is flattening faster-than-anticipated.
- Corporate earnings season - which is sure to be the most newsworthy in at least a decade - kicked off with mixed results from JP Morgan and Wells Fargo.
- Following declines of 0.9% on Monday, the S&P 500 jumped by 3.1% while the Dow Jones Industrial Average gained 560 points after yesterday's 320 point decline.
- Real estate equities bounced back following a sharp decline on Monday as the broad-based commercial Real Estate ETFs gained 2.7% on the day with all 18 REIT sectors in positive-territory.
- Newsflow has been fairly light this week as REIT earnings season begins next week which should provide pivotal information on rent collection and future dividend plans. Retail Sales data highlights tomorrow's economic calendar.
Real Estate Daily Recap
U.S. equity markets rebounded on Tuesday - rising for the fourth day out of the past six - amid mounting evidence that the "coronavirus curve" - both in the U.S. and globally - is flattening faster than initially expected. Corporate earnings season - which is sure to be the most newsworthy in a decade - kicked off with mixed results from JP Morgan (JPM) and Wells Fargo (WFC). Following declines of 0.9% on Monday, the S&P 500 ETF (SPY) jumped by 3.1% while the Dow Jones Industrial Average (DIA) gained 560 points after yesterday's 320 point decline. Real estate equities bounced back following a sharp decline on Monday as the broad-based commercial Real Estate ETFs (VNQ) (SCHH) gained 2.7% on the day with all 18 REIT sectors in positive territory while Mortgage REITs (REM) finished lower by 1.4%.
