Stimulus Rally | Casino Merger | School In Session?
Daily Recap
- U.S. equity markets finished mostly higher on Tuesday, gaining ground after the signing of a new stimulus package from the EU and data showing a deceleration in coronavirus cases counts.
- Following gains of 0.8% yesterday, the S&P 500 finished higher by 0.2% today while the tech-heavy Nasdaq declined by 0.8%, retreating from yesterday's record-highs.
- After dipping 1.2% on Monday, the Equity REIT ETF finished higher by 0.2% today with 11 of 18 REIT sectors in positive territory while the Mortgage REIT ETF gained 1.5%.
- Industrial REITs still haven't skipped a beat since the start of the pandemic. Prologis reported strong Q2 results this morning and raised full-year guidance, while Rexford reported similarly strong metrics this afternoon.
- Student Housing REIT American Campus reported that 90% of beds are leased for the Fall 2020 semester and that 63 of the 68 universities it serves plan to have in-person classes.
