Utilities Up as Treasury Yield Slide Continues -- Utilities Roundup

Shares of power producers rose as Treasury yields continued the recent retreat in the wake of a down-tick in the wholesale inflation rate.

Investors are pushing down Treasury yields in anticipation of a rate cut from the Federal Reserve in September. Weaker consumer-confidence data and soft wholesale inflation data Friday further bolstered that case.

The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the Standard & Poor's 500, is now up by roughly 11% for the year-to-date, as yield-seeking investors snap up utilities in light of a worsening outlook for Treasury yields.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

07-12-24 1740ET