- The Utilities Select SPDR ETF (NYSEARCA:XLU) is down 4.6% in premarket action despite the historic decline in interest rates.
- At current check, the 10-year Treasury yield is just 0.47%, and the long bond is 0.91%.
- To be fair, the charts of many of the big players in utilities have been up and to the right for a very long time. The move down in the past couple of weeks and today is barely a blip on the 10-year view.
- NextEra Energy (NYSE:NEE) -4.9%, Duke Energy (NYSE:DUK) -4.1%, Dominion Energy (NYSE:D) -3.1%, American Electric (NYSE:AEP) -3.7%