Good evening and welcome to Markets Desk, your close-of-day read on what's moving markets and the broader economy.
Realty Income is making a play for the AI infrastructure wave without abandoning its identity as a yield vehicle. The real estate investment trust recently formed a six billion dollar joint venture to invest in data centers, giving income-focused investors a five percent dividend yield alongside direct exposure to one of the fastest-growing corners of the market.
Shifting to geopolitics, the United Arab Emirates reports one of its vessels was struck by a missile as tensions over the Strait of Hormuz remain dangerously elevated. Iran's military is conditioning any reopening of that critical waterway on U.S. acceptance of its terms, a posture that puts roughly a fifth of global oil supply in the crosshairs of a prolonged standoff.
And on the domestic economy, the housing market is undergoing a genuine geographic reversal. Florida and Texas, pandemic darlings driven by remote work migration and Sunbelt appeal, are now the market's biggest underperformers. Affordability and employment stability are redirecting buyers toward Rust Belt cities, with Ohio emerging as a surprising frontrunner in this new cycle.
That's the tape. Markets Desk, signing off the floor.
