Utilities Advance as GDP Data Triggers Defensive Rotation — Utilities Roundup
Provided by
Dow Jones
Shares of power producers rose after surprisingly weak gross-domestic product growth data triggered a rotation into defensive sectors.
The utilities industry group of the S&P 500 has moved into positive territory for the year to date, as investors position themselves for a slowdown in economic growth.
GE Vernova shares rose after the provider of equipment and services to power plants and wind farms posted robust growth in its electrification unit.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 25, 2024 17:36 ET (21:36 GMT)
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