The State of Office Demand in the U.S.

As we analyze the current state of office demand in the U.S., it is essential to consider the performance of key stocks in the market. SL Green has seen a significant increase, with a 12% growth in just a month and a remarkable 20% gain over the past three months. However, it is worth noting that the stock has dropped by 11% since reaching its peak in July. Similarly, Vornado has shown positive growth, up by 16.6% in a month and 24% in three months, although it is still 7% below its December high. On the other hand, CBRE has experienced a 22% increase in a month, but the stock has decreased by 7% since its high on July 31st. BXP is another stock to watch, with a 12% surge in a month and an 11% increase over three months, yet it stands 8.7% below its peak in December.

Highlighting the pharma sector, Eli Lilly has seen a remarkable 32.5% increase so far in 2024. Despite this growth, the stock is currently 20% below its July high and has remained flat over the past three months. Investors will be eagerly awaiting the company’s report on Thursday morning to gain further insights into its performance.

Under Armour is set to report before the bell, while Capri Holdings will share its report after the bell. Capri Holdings, which includes renowned brands like Versace, Jimmy Choo, and Michael Kors, has seen mixed results. Class C shares of Under Armour have declined by 4.4% over the past three months, with the stock currently sitting 30% below its December high. Capri, on the other hand, has seen a 13.7% decrease over three months and is significantly down by 41.5% from its peak nearly a year ago.

Recent Lows and Challenges for Other Stocks

Etsy hit a four-year low on Wednesday, signaling a 40% decline from its December high. Ulta Beauty also faced challenges, hitting a 37-month low and experiencing a 44% drop from its March high. Dollar Tree rounded off the list by hitting a 34-month low on Wednesday, highlighting the struggles faced by some stocks in the current market environment.

The state of office demand in the U.S. is reflected in the performance of key stocks across various sectors. It is crucial for investors to closely monitor these developments and factor in the reported earnings of companies to make informed decisions in the ever-changing market landscape.