The utilities sector (XLU +0.2%), up as much as 2% early after NV Energy (NVE +22.5%) agreed to...

|By:, SA News Editor

The utilities sector (XLU +0.2%), up as much as 2% early after NV Energy (NVE +22.5%) agreed to be acquired by Berkshire Hathaway at a hefty premium, wound up surrendering the bulk of its gains. Utilities remain May's weakest performer, down 8.5%, as rising interest rates, optimism over economic growth and a downbeat reading on future electricity prices send yield-seekers rotating into cyclicals.