Shares of power-plant operators rose slightly as traders rotated into less rate-sensitive sectors.
"Utilities are attractive on yield basis but as interest rates rise their performance is going to be probably subdued and face some headwinds," said Oliver Pursche, chief investment strategist at broker dealer Bruderman Brothers. Mr. Pursche said he anticipates utilities lagging the broad market this year, much as they did last year. "I do think there's going to be significant performance divergence amongst sectors of the S&P 500 ... we're somewhat more cautious on energy, telecom and utilities."
Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
January 17, 2018 17:27 ET (22:27 GMT)