Utilities Down as Treasury Yields Spike -- Utilities Roundup

Shares of power producers fell as Treasury yields spiked again.

One strategist noted that the utilities industry group is by far the weakest of the 11 S&P 500 industry groups during the last 12 months.

"The perceived delay in interest rate cuts by the Federal Reserve -- that's likely part of the problem, since it's an interest-sensitive sector," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

04-15-24 1746ET