Utilities Up Slightly as Treasury Yields Stall -- Utilities Roundup

Shares of power producers rose in the wake of Federal Reserve Chair Jerome Powell's congressional testimony.

Powell's testimony appeared to increase the likelihood of a rate cut in the coming months, although he noted more progress would have to be made against inflation before a cut was warranted. Treasury yields rose modestly in the wake of Powell's testimony but are likely to fall if the Fed sticks to its rate-cut plans.

Houston city officials said it could take days to restore power to millions of customers after Beryl swept through the region, flattening homes and leaving several people dead.

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(END) Dow Jones Newswires

07-09-24 1740ET