Real estate and REIT stocks, as proxied by VNQ, jumped in the pre-market session, driven by a broad market rally following the US midterm election results. The Democrats gaining control of both houses of Congress led to a general market upswing as initial fears of political gridlock and tighter regulation eased. This move was amplified for the rate-sensitive real estate sector by a concurrent drop in the 10-year Treasury yield to around 4.93%, making REIT yields more attractive and lowering borrowing cost expectations. Several REITs also reported positive quarterly earnings, adding to the sector-specific positive sentiment.