Seeking Alpha

Utilities well-bid as broader market slides

  • Defense is working nicely today as the utility sector (XLU +1.4%) makes a strong move higher with the rest of the market lit up bright red. Few have had use for the steady dividend payers since rates started rising in May, but the sector has stabilized over the past month and is particularly well-bid today amid panicky action in high-flying momentum favorites.
  • Some individual names: Southern Company (SO +1.9%), Edison International (EIX +1.9%), Duke Energy (DUK +1.6%), FirstEnergy (FE +1.5%), XCel Energy (XEL +2.1%), American Electric Power (AEP +1.6%).
  • Related ETFs: IDU, PUI, XLU, VPU, RYU, FXU, PSCU, UPW, SDP, UTLT.
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