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- The Daily REITBeat | Wednesday, August 20th, 2025
The Daily REITBeat | Wednesday, August 20th, 2025
"Tech Drag"
David Auerbach
August 20, 2025
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Futures in the red at the time of this writing as talking heads focus on Target’s earnings along with Jackson Hole symposium where Chairman Powell speaks Friday with many investors looking ahead to the September Federal Reserve meeting and potential for interest rate cuts.
From Bloomberg
"US stock futures steadied after a three-day retreat that was driven by a pullback in big technology. Target Corp. and Estee Lauder Cos. shares fell.
S&P 500 futures was little changed. Target dropped more than 9% in premarket after picking an insider as chief executive officer to help regain its footing. Estee Lauder fell 7%. Nvidia Corp. steadied after Tuesday’s slump, even as most members of the Magnificent Seven extended declines.
In Europe, the stock benchmark edged 0.2% closer toward a new high after erasing losses. The dollar and US Treasuries were little changed, with the 10-year rate at 4.30%. Brent crude rose more than 1% to $66.50 a barrel.
Investors pared back positions in tech amid growing concern that the S&P 500’s recent record-breaking rally has run too far, too fast and has leaned heavily on a few growth leaders. That momentum will get a further test this week as focus turns to Jackson Hole, Wyoming, where Federal Reserve Chair Jerome Powell is set to speak on Friday with traders betting on a September cut in interest rates."
In REIT News
Deutsche Bank downgrades DOC to Hold from Buy (lower price target by $10 to $18)
Citizens downgrades PLYM to Market Perform from Outperform
Yesterday, Fitch Ratings affirmed EPRT’s Long-Term Issuer Default Rating at “BBB” and its operating partnership’s issuer default rating and senior unsecured debt at “BBB” plus revised its outlook to positive from stable
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David Auerbach