Shares of telecommunications companies were flat as traders bet the sector would eke out growth whatever the economic backdrop.
Optimism is building around the sector in light of "5G" network upgrades and an anticipated "Supercycle" around the latest iPhone model.
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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)