Shares of power producers rose sharply on the outlook for rate cuts.
The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the S&P 500, is up by more than 10% since April, as traders position themselves for Federal Reserve rate cuts.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-10-24 1829ET