Shares of power producers ticked up as Treasury yields slipped.
The utilities sector remains deep in the red for the year to date, amid concerns about the sector's debt load at a time of elevated interest rates.
"If you own a utility, you're really just focused on dividends rather than capital appreciation, and those dividends tend to be very sustainable because they have pricing power," said Oliver Pursche, senior vice president at financial advisory Wealthspire.
Texas is battling one of its biggest wildfires in decades as a series of devastating blazes ripped through the Panhandle, destroying homes and livestock and sparking a wave of evacuations, with roughly 570,000 acres of mostly grassland affected.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-28-24 1730ET
