MDY

U.S. equity markets plunged by the most since March this week as a strong slate of economic data and corporate earnings was overwhelmed by pre-election jitters and amplified coronavirus concerns.A cascading wave of lockdowns across Europe rattled global equity markets while narrowing poll numbers in the U.S. compromise the prospects of a renewed fiscal stimulus package.Sitting on the cusp of "correction territory," the S&P 500 ended the week lower by nearly 6% while major Eurozone equity indexes plunge by over 10%. Technology stocks remained under pressure.Real estate equities were a surprising source of stability. Equity REITs and Mortgage REITs were relative outperformers on the week following a strong start to third-quarter earnings season as three more REITs boosted dividends.This week's sell-off came despite better-than-expected economic data, underscored by a record 33.1% surge in third-quarter GDP growth as the United States continues to outperform essentially all other developed economies during the pandemic.

U.S. equity markets finished flat this week as better-than-expected economic data and earnings results were offset by a continued fiscal stalemate and pressure on technology stocks amid a censorship controversy.The S&P 500 managed to eke out a 0.1% gain this week. The Nasdaq 100 ended the week on a four-day skid as Twitter and Facebook face Congressional subpoenas.Coming off its best two-week gain since April, a sharp sell-off among COVID-sensitive property sectors sent Equity REITs lower by 2.7% with 17 of 18 property sectors in negative territory.Retail sales were far stronger than expected in September, gaining for the fifth month in a row and setting new record highs. Retail sales are now higher by 5.4% from last year, led by the e-commerce and home improvement categories.While retail sales and housing data have exhibited continued strength, the employment recovery has shown signs of losing steam in recent weeks with Initial Jobless Claims coming in above estimates.

U.S. equity markets delivered their strongest week in three months, driven by solid economic data and renewed hope for a compromise on the ever-elusive fiscal stimulus deal.Following gains of 1.6% last week, the S&P 500 surged 3.9% this week, climbing back within 3% of all-time highs. The gains were again led by Small-Cap and Mid-Cap stocks.Coming-off its best week since July, equity REITs finished higher by another 1.3% this week with 9 of 18 property sectors in positive territory. "Essential" property sectors again led the way.Rent Paid: The National Multifamily Housing Council’s Rent Payment Tracker found that rent collection is back in line with pre-pandemic levels despite the dire forecasts to the contrary.Return to Work: Continuing Jobless Claims decreased to 10.98 million, down exactly one million from last week. Since the peak in early May at around 25 million, Continuing Claims have retreated by 13.9 million.

In a series of recent articles, I have covered the bottom 50 stocks in the large-cap S&P 500, the mid-cap S&P 400, and the small-cap S&P 600.Those three indices cover 1500 stocks, but there are still more than 2200 listed U.S. companies not represented in those indices.Some companies are outside of the S&P 1500 because they are small. Some large companies have not hit the S&P index criteria, including profitability measures.Perhaps unsurprisingly then, the 50 worst performing stocks outside the S&P 1500 tended to be small and unprofitable.By looking at the tails of the return distribution, I believe that we can gain greater insight into portfolio return drivers.

This article examines the best performing mid-cap stocks in the third quarter of 2020.The S&P Midcap 400 Index rallied by 4.8% in the third quarter, but still lagged the large-cap index.Consumer cyclicals led the way with companies in the residential housing sector, gaming firms, and rebounding retailers among the leaders.By examining the tails of the return distribution, we can gain improved insight into different portfolio return drivers.

U.S. equity markets snapped a four-week losing streak on a frenetic week of economic data and political developments that culminated with the hospitalization of the President of the United States.Throwing yet another curveball into the home stretch of a highly contentious U.S. election season, the shocking developments on Friday overshadowed a generally strong week of economic data.Beginning the week on the cusp of "correction territory," the S&P 500 gained 1.6% this week. The Small-Cap and Mid-Cap indexes, however, surged nearly 5% while tech stocks lagged.Real estate equities and other economically-sensitive equity sectors were also among the leaders this week, seemingly unfazed by the October surprise. REITs rallied more than 5%, the best week since July.Homebuilders also surged following another stellar slate of housing data, including record-setting Pending Home Sales and metrics showing robust mortgage demand for home purchases as the housing industry continues to lead the recovery.

U.S. equity markets finished broadly lower on another volatile week, pressured by "supreme uncertainty" amid a contentious U.S. election season and lingering coronavirus concerns as we enter the colder months.Declining for the fourth-straight week following a six-week winning streak, the S&P 500 dipped another 0.6% this week and is now roughly 8% below its all-time highs set last month.This "supreme uncertainty" weighed on real estate equities and other economically-sensitive sectors this week. Equity REITs finished lower by 3.1% this week with 17 of 18 property sectors in negative territory.New Home Sales topped estimates, surging 43% in August from last year to the highest annual rate since 2006, another sign that the housing industry continues to lead the economic recovery.While the housing industry rebound has shown continued resilience, there are signs that the rebound in labor markets may be losing some steam ahead of a critical week of employment data - the final jobs report before Election Day.

On another choppy week, U.S. equity markets finished mostly lower despite a solid slate of economic data and assurances from the Federal Reserve that it would keep interest rates near-zero indefinitely.Declining for the third-straight week following a six-week winning streak, the S&P 500 dipped another 1.0% this week and is now roughly 7% below its recent all-time highs.An encouraging slate of dividend news and rent collection updates buoyed real estate equities this week, particularly the more beaten-down property sectors, including malls, hotels, student housing, and mortgage REITs.After the Equity REIT sector was slammed by a wave of 64 dividend cuts in March through June, since then, we've seen far more dividend increases than dividend cuts in the REIT sector, including five more boosts from equity REITs and three from mortgage REITs this week.Housing Heats-Up: Homebuilder Sentiment jumped to the strongest levels on record in September, driven by a surge in Home Buyer Traffic, which far exceeded previous record levels as inventory levels remain historically tight.