Shares of power producers rose sharply as investors rotated out of cyclical stocks as concerns about mixed earnings reports sparked a retreat from risk.
Many cyclical sectors were "priced for perfection" with expectations of growth sky-high going into earnings season, strategists said. Utilities received a lift from a drop in Treasury yields.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-20-21 1754ET