Shares of power producers slipped as U.S. government-bond yields scored weekly gains.
The policy-sensitive two-year rate set an almost 15-year high.
In California, using natural gas in your home to fry an egg or heat the water for your shower could eventually become a thing of the past as the state's air regulator passed a vote Thursday that would require 100% of new space and water heaters sold in California to meet the zero-emission standard by 2030.
"This measure would not mandate retrofits in existing buildings, but some buildings would require retrofits," a spokesperson for the California Air Resources Board said.
"It is expected that this regulation would rely heavily on heat pump technologies (that use electricity, not natural gas) currently being sold to electrify new and existing homes."
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
09-23-22 1650ET
