Utilities Climb as Traders Buy Into Lagging Sector - Utilities Roundup
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Dow Jones
Shares of power producers rose as traders rotated into a sector that has lagged the broad market for two years.
The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the S&P 500, rose 0.7% and is now up by more than 2% for the year to date, reversing losses of more than 5% earlier in the year.
The S&P 500 is up roughly 11% for the year to date but is more or less flat for this week, while the utilities industry group has risen by 2.5% for the week.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
March 28, 2024 17:35 ET (21:35 GMT)
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