Shares of power-plant operators recouped some of their recent losses as traders hedged their bets on the outlook for economic data and interest rates. The inflation portion of the latest University of Michigan consumer-confidence survey showed a decline in inflation expectations. Inflation and jobs growth data, which is anticipated from the Labor Department data next week, are the two main influences on Federal Reserve policy. Meanwhile, President Donald Trump is considering naming a new Fed chairperson next week, which could also affect Fed policy. Questions surrounding a $300 million deal to reconstruct Puerto Rico's electrical grid continue to reverberate as federal and local politicians began investigating the U.S. territory's disaster-recovery spending. The Federal Emergency Management Agency held a three-hour conference call earlier this week to scrutinize a reconstruction contract awarded by Puerto Rico's public power authority to a tiny, Montana-based energy firm, Gov. Ricardo Rossello said in a letter to the Department of Homeland Security.
-Rob Curran, firstname.lastname@example.org
Continue Reading Below
(END) Dow Jones Newswires
October 27, 2017 16:42 ET (20:42 GMT)