Stocks Retreat From Records, REITs Outperform [Daily Recap]
- U.S. equity markets snapped a four-day winning streak on Friday despite a strong nonfarm payrolls report this morning, but still finished the week with gains of more than 3%.
- The S&P 500 finished lower by 0.5%, retreating from yesterday's record-highs, while the Dow Jones Industrial Average declined by 277 points.
- Weak economic data from Germany and signs of labor market slack domestically pressured interest rates, pulling the 10-Year Treasury Yield lower by 6 basis points to end at 1.58%.
- The broad-based commercial Real Estate ETF (VNQ) outperformed with fractional gains, led by the cell tower, storage, and manufactured housing REIT sectors.
- Stay tuned for full coverage of this week's economic data in our Real Estate Weekly Outlook report published tomorrow morning.
