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Real Estate Leads 52-Week Lows Thursday; Stocks Fall

Thursday, September 29, 2022 02:57 PM | Neal Farmer
Real Estate Leads 52-Week Lows Thursday; Stocks Fall

During trading Thursday, 10 stocks traded to a 52-week high, while 633 stocks bottomed out at new 52-week lows. The S&P 500 is down 2.65% so far today while the Dow is down 2.01%, the Nasdaq is down 3.58%, and the Russell 2000 is down 3.14%.

Stocks continued their downward descent as Fed officials reiterated that the central bank will continue raising interest rates to fight against inflation. New data further showed that the economy can handle future monetary policy tightening such as initial unemployment claims falling to 193,000 new claims from 209,000 the previous week. Bed Bath & Beyond (BBBY) stock is down 7.35% as the retailer missed earnings estimates once again and saw its sales fall 28%.

Financial Services: AVAN, CRU, FCAX, SNRH, GFX, PRSR

Financial Services stocks dominated our list of highs today with 6 out of the 10 total stocks that reached their high coming from the Financial Services sector. The Financial Services sector is outperforming the market, decreasing 1.37% so far on the day. Over the last month, the Financial Services sector has outperformed the market, increasing 8.57% while the S&P decreased 10.05%.

Finance stocks have the most highs Thursday as the sector is down less than the rest of the market and has outperformed the last month in which stocks have pulled back considerably.

Real Estate: ABR, ACRE, RTL, AGNC, AIRC, AKR, AMT, ARI, ARR, AVB, BNL, BRMK, BRSP, BRX, BXMT, BXP, CBRE, CCI, CIM, CIO, CMTG, CPT, CWK, DBRG, DEA, DEI, DHC, DLR, DOC, DRH, DX, EFC, EGP, ELS, EPR, EPRT, EQC, EQIX, EQR, ESS, FBRT, FCPT, FR, FSP, GMRE, GNL, GPMT, HASI, HHC, HR, HT, ILPT, INN, IRT, JLL, KIM, KREF, KRG, LADR, LAND, MFA, MMI, MPW, NLY, NMRK, RITM, NTST, NXRT, NYMT, O, OFC, ONL, OPI, ORC, OUT, PDM, PEAK, PEB, PECO, PK, PLYM, PSA, RC, RDFN, REG, REXR, HOUS, RLJ, ROIC, RPT, RWT, RYN, SAFE, SBAC, SHO, SITC, SRC, STAG, STAR, STWD, SUI, TRNO, TRTX, TWO, UBA, UE, VTR, WE, WELL, WPC, WRE, WSR, WY, AJX, AOMR, CHCT, PW, RMR, UHT

The Real Estate sector makes up the majority of our 52-week lows, as 119 out of our 633 lows comes from the Real Estate sector. The Real Estate sector is outperforming the market today, decreasing 2.94% so far on the day. Over the last month, the Real Estate sector has underperformed the market, decreasing 16.4% while the S&P decreased 10.05%.

Real estate stocks have the most lows today as the sector is down nearly 3% and has crashed over 16% in just the past month of trading.

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