S&P Bull Market • Jobless Claims Jump • REIT Dividend Hike
U.S. equity markets edged higher Thursday- lifting the S&P 500 into "bull market" territory- as benchmark interest rates pulled-back following a weak jobless claims report and a dip in oilprices.
Pushing its gains to over 20% from its lows last October, the S&P 500 advanced 0.6% today, but the Mid-Cap 400 and the Small-Cap 600 each declined by about 0.5%.
Real estate equities traded mostly lower today as the annual REITweek industry conference wrapped-up. The Equity REIT Index slipped 0.6% today, with 14-of-18 property sectors in negative territory.
Universal Health REIT (UHT) gained 1.5% today after it raised its dividend by 1% to $0.72/share (dividend yield: 5.9%), becoming the 55th REIT to raise its dividend this year.
The last major employment report before the Fed's meeting next week, jobless claims data this morning showed that initial claims rose sharply last week in a potential sign that the long-resilient labor market may be showing clearer signs of cooling.
Income Builder Daily Recap
U.S. equity markets edged higher Thursday - lifting the S&P 500 into "bull market" territory - as benchmark interest rates pulled-back following a weak jobless claims report and a dip in oil prices. Pushing its gains to over 20% from its lows last October, the S&P 500 advanced 0.6% today, but the Mid-Cap 400 and the Small-Cap 600 each declined following two days of significant outperformance. The tech-heavy Nasdaq 100 - which has been in "bull market" territory since early May - gained another 1.2% while the Dow added 169 points. Real estate equities traded mostly-lower today as the annual REITweek industry conference wrapped-up. The Equity REIT Index slipped 0.6% today, with 14-of-18 property sectors in negative territory, while the Mortgage REIT Index slipped 0.1%.
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