Utilities Up, but Not by Much, on Rotation -- Utilities Roundup
Shares of power-plant operators rose, but not by as much as the broad market, as traders rotated into sectors perceived to be the biggest beneficiaries of tax cuts. While utilities will benefit from corporate tax cuts, thanks to their domestic focus, investors are more focused on the implications for financial and industrial companies. Texas' shift to a wind-power state continued as the Port of Corpus Christi said it would receive shipment of 3,000 large wind-turbine parts for the first time this year, reflecting the growth in use that has seen the alternative energy surpass coal as a source of Texas electricity.
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
December 15, 2017 16:56 ET (21:56 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.