Utility Stocks Gain Ahead of Inflation Data -- Utilities Roundup

Dow Jones04-10

The utility sector rose while traders awaited clues to the Federal Reserve's next move in Wednesday's consumer price index report. Traders are looking for signs that inflation pressures are close to peaking, which could prompt the central bank to lower interest rates, bringing bond yields down and renewing buying in utility stocks.

The Utilities Select Sector SPDR ETF rose 0.6%.

The Energy Information Administration said it expects hotter summer temperatures this year, which would increase annual residential electricity consumption by almost 4%.

Vistra shares fell 6.6%, its largest percentage drop since July 2022, after the retail electricity and power generation company announced private debt offerings. Vistra didn't say how much it would raise from the senior note offerings.

Write to Mary de Wet at mary.dewet@dowjones.com

(END) Dow Jones Newswires

April 09, 2024 17:01 ET (21:01 GMT)

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