Shares of power-plant operators rose as traders hedged their bets ahead of a Federal Reserve policy statement later in the week. The utility sector is among the most sensitive to changes in rate expectations.
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After rising substantially in the first half of 2017, the Utilities SPDR Select Sector exchange-traded fund, which tracks the performance of utility stocks in the Standard & Poor's 500, is more or less flat during the last six months. In that time, traders have shifted to other sectors that fare better when rates are rising, such as financials -- the Financial SPDR Select Sector ETF is up about 20% over the same period of time.
--Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
December 11, 2017 16:36 ET (21:36 GMT)