Shares of telecommunications companies were flat as traders bet the sector would eke out growth whatever the economic backdrop.
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Optimism is building around the sector in light of "5G" network upgrades and an anticipated "Supercycle" around the latest iPhone model.
Several rounds of negative developments, including a price war and competition from streaming services, have left major carriers such as AT&T and Verizon with low price-to-earnings multiples that could make them a good buy, said analysts at brokerage MoffettNathanson.
Rob Curran, email@example.com
(END) Dow Jones Newswires
May 30, 2017 16:59 ET (20:59 GMT)