Stocks continue rally amid more signs of cooling inflation
Stocks kept up what's been a weeklong rally on Thursday after producer price data provided further evidence inflation is cooling and companies started earnings season stronger than analysts had expected.
The S&P 500 (^GSPC) closed up 0.9%, while the Dow Jones Industrial Average (^DJI) rose 0.1%. The tech-heavy Nasdaq (^IXIC) led gains, rising about 1.6%.
A drop in headline consumer inflation to a two-year low gave markets a boost of energy on Wednesday and was acting as a?drag on the dollar.
The Producer Price Index (PPI) reading for June came in at 0.1%, undershooting expectations. Meanwhile,?Labor Department data?showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week.
A?cooldown in inflation?could give the Federal Reserve reason to ease up on its rate hike campaign, though the?CME FedWatch Tool?shows most traders still see odds above 90% for an increase in July.
We show how equity Real Estate Investment Trusts, the world's best asset class, closed Thursday, July 13, 2023 with our optimized quant pooling index approach in dividing the index into four elements, fire for the top 10 performers, water for the best 10 components according to their dividend yield, earth for the top 10 best market capitalized mortgage REITs and air for the entire 182 eREIT components.
Our top 10 performers achieved a one day performance of 7.29% on Thursday, July 13, 2023 with an average annual dividend yield of 1.05%
Our top 10 best eREIT components according to their dividend yield reached a one day performance of 0.65% on Thursday, July 13, 2023 with an average annual dividend yield of 12.38%
Our top 10 best eREIT components according to their market capitalization reached a one day performance of 0.90% on Thursday, July 13, 2023 with an average annual dividend yield of 4.02%
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Our weighted eREIT ETFs reached a one day performance of 0.72% on Thursday, July 13, 2023 with an average annual dividend yield of 3.62%.
We consider that the creation of private ETFs that include all 182 elements of equity Real Estate Investment Trusts would outperform the 10 equity Real Estate Investment Trusts Exchange-Traded Funds.
We also think that local communities would be well served to create decentralized real assets cooperatives and issue private ETFs to their cooperators.
Over 86,000 credit unions operate in 118 countries worldwide.
By providing community-based financial services, credit unions empower people to access high quality and affordable financial services.
They help 375 million members — many of them reliant on low income and/or financially excluded — to create opportunities such as starting small businesses, building family homes and educating their children. In young democracies in particular, members encounter their first taste of democratic decision-making through the member-owned credit union.
In some countries, credit unions are known by different names. In Africa, for example, they are known as savings and credit co-operative societies (SACCOs) to emphasize savings before credit.
We wish you all a great and happy Friday!
Kind regards
Lucas