Shares of power producers rallied, cutting losses for the year, as fears of another Federal Reserve rate increase diminished.

Mixed economic data caused investors to back off wagers that Treasury yields would keep rising because of pressure on the central bank to resume its rate-hiking cycle.

The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the S&P 500, rose by 1.9%, and is now 3.7% lower for the year to date.

Write to Rob Curran at

(END) Dow Jones Newswires

02-27-24 1723ET