Shares of power producers rose on the outlook for interest rates and energy demand.
The utilities sector remains the weakest on the S&P 500 for the trailing 12 months, despite expectations that increased usage of energy intensive technology, such as artificial intelligence and renewable power sources, will significantly increase electricity usage.
"It's interesting that forecasts show energy demand increasing over the coming years, and yet the sector performed the least over the last year," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-24-24 1743ET
