Utilities Up on Hopes of Rate-Increase Delays -- Utilities Roundup
Shares of power-plant operators rose amid hopes that the stock-market shock would discourage the Federal Reserve from raising interest rates, as planned. Fed funds futures markets are now pricing in two rate hikes instead of three as they were before the stock-market correction, said Quincy Krosby, chief market strategist at Prudential Financial. China has entered its first long-term contract to import U.S. liquefied natural gas, following a push by the Trump administration to open the rapidly growing market to U.S. suppliers. PG&E shares ticked up after the company put its immediate liability for California wildfires at $82 million. PG&E warned, however, that it could face further liabilities if investigations revealed that fires started at its facilities.
-Rob Curran, email@example.com
(END) Dow Jones Newswires
February 09, 2018 16:48 ET (21:48 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.