Shares of power producers rose as traders rotated into sectors that would fare well in the event of rate cuts.
Treasury yields fell as investors priced in a rate cut by September at the latest.
Blackstone agreed to buy Trystar, a provider of electrical equipment used for backup power solutions, from smaller private-equity firm Goldner Hawn for an undisclosed amount.
Demand for back-up power generators is set to continue growing amid outages such as that in the wake of Hurricane Beryl in Houston.
Shares of CenterPoint Energy, the main utility in Houston, rose. More than 100,000 people in Texas were without power on Tuesday, according to independent outage tracker PowerOutage.us.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-16-24 1714ET
