Shares of power producers rose as a rotation into the sector continued.
"Historically, when untilities outperform, people believe a top is coming in bond yields," said Quincy Krosby, chief global strategist at brokerage LPL Financial.
"Hoewever, yet another narrative is taking hold, which is the need for power, the need for upgrades to electrical grids to underpin the data center requirements mostly for AI."
British oil giant BP co-led a $111 million capital raise by an Australia-based technology company developing highly efficient electrolyzers to produce lower-cost green hydrogen.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-10-24 1708ET
