REITs Rebound | Jobless Claims Retreat | Financials Lead
Daily Recap
- U.S. equity markets rebounded on Thursday on another volatile session following lukewarm employment data this morning and mounting fears of delayed post-pandemic economic reopenings.
- After dipping 2.6% yesterday, the S&P 500 gained 1.1% while the Dow Jones Industrial Average jumped 300 points and the Nasdaq added 1.1%.
- Snapping a three-day losing streak, the broad-based Equity REIT ETFs finished higher by 1.3% today with 14 of 18 property sectors in positive territory while the Mortgage REIT ETF gained.
- Today's gains came despite somewhat disappointing employment data this morning. Another 1.48 million Americans filed for Initial Jobless Claims last week, down just modestly from 1.51 million in the prior week.
- Retail Properties of America and Brandywine each jumped roughly 10% after S&P announced that both will be added to the S&P SmallCap 600 next week.
