Utilities Up on Defensive Bias -- Utilities Roundup
Shares of power producers rose as traders rotated into defensive sectors. One strategist said the swings of the utility sector in recent sessions reflects confusion among investors on the outlook for global trade and economic growth. "If you look at the last couple of days not been whole lot of clarity," said Oliver Pursche, chief market strategist at broker-dealer Bruderman Brothers. "Today utilities were up more than 1%, yesterday they were down about 1%. I think everybody's rejiggering their portfolios trying to figure out what might or might not happen next."
-Rob Curran, firstname.lastname@example.org