Shares of telecommunications companies rose slightly as traders rotated into cyclical sectors. For the first time since 2009, the Federal Communications Commission concluded there is "effective competition" in the U.S. wireless market. Starting in 2010, after years of major consolidation among wireless carriers, the FCC had declined to say in its annual review whether it believed the industry was competitive. Recent price wars provoked by promotions by T-Mobile US and Sprint have offset the effects of decades of consolidation, and some analysts predict carriers will try to poach each others' subscribers once more after Apple launches its latest iPhone Tuesday.
-Rob Curran, email@example.com
Continue Reading Below
(END) Dow Jones Newswires
September 11, 2017 16:55 ET (20:55 GMT)