Quick News Spot

Utilities Climb as Treasury-Yield Slide Continues - Utilities Roundup


Utilities Climb as Treasury-Yield Slide Continues - Utilities Roundup

Shares of power producers rose as Treasury yields fell to multiyear lows, spurring demand for the defensive dividend-oriented sector.

The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the S&P 500, is now up roughly 20% for the year to date.

The only subdivision of the stock market with comparable performance is the mega-cap tech niche.

The Roundhill Magnificent Seven exchange-traded fund is up about 32% for the year to date.

"It is not often - in either a bear or bull market - that the market's quintessential aggressive high-beta technology sector runs neck and neck with the market's poster child for defensive positioning - the windows & orphans utilities sector," said Jim Paulsen, a longtime Wall Street strategist who publishes an independent research newsletter.

Paulsen said the market's defensive bias was also reflected in the strength of gold futures.

Previous articleNext article

POPULAR CATEGORY

corporate

4724

tech

4045

entertainment

5863

research

2673

misc

6230

wellness

4731

athletics

6114