Real Estate Stocks Grow On New Trade Talks With U.S. and China
In the three days since the markets opened after the final long weekend of summer, real estate stocks have bumped up marginally.
And the increase trailed that of the broader S&P 500, according to an analysis of 28 real estate stocks by The Real Deal.
The S&P 500 since Tuesday morning increased about 2.3 percent, with a boost on Thursday amid, once again, news of trade negotiations between the U.S. and China. Meanwhile, the Wall Street Journal reported on Thursday that the Federal Reserve will likely cut its benchmark interest rate by just 25 basis points later this month.
The 28 stocks TRD tracks — a mix of brokerages, real estate services firms and real estate investment trusts — also ticked up, but by just 1.49 percent on average. The Real Estate Sector SPDR fund, an index heavily weighted in the industry, also rose this week. But its 1.48 percent gains also fell behind those the S&P has made so far.
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