Utilities Down, But Not By Much, Amid Defensive Rotation - Utilities Roundup
Shares of power-plant operators fell, but not by as much as the broad market, as traders rotated into defensive areas, considered evergreen. The SPDR Select Utility exchange-traded fund, which tracks the price of the utility sector, is down sharply for the year-to-date, however, as the shock of rapidly rising Treasury rates has taken a bigger toll on the rate-sensitive utility sector. Exelon said it is closing the Oyster Creek nuclear plant in New Jersey in October, a year ahead of schedule.
Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
February 02, 2018 17:02 ET (22:02 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.