Shares of power producers rose as traders chased momentum in the sector.
The SPDR Select Sector Utilities exchange-traded fund remains 1.9% higher for the year to date, despite bear-market conditions for much of the stock market.
"The fact that utilities are doing so well...maybe that's showing you further concern about getting into more defensive areas," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "It also could be the fact that demand seems to be increasing in the utility space, especially over the next five years or so."
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 14, 2025 17:09 ET (21:09 GMT)
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