Utilities drop after hot jobs report

AES

06/10/2023 14:26

** Rate-sensitive utilities stocks falling premarket as
yields spike after strong jobs report
    ** Benchmark U.S. Treasury 10-year yield  US10YT=RR  rose to
4.84% after data showed employers added 336k jobs in Sept, well
above 170k expected  US/ 
    ** Utilities Select Sector SDPR ETF  XLU.P  off ~1% before
the bell
    ** Stocks in S&P 500 Utilities  .SPLRCU  sector down:
Renewable energy giant NextEra Energy  NEE.N  1%, NiSource
 NI.N  >1%, PG&E Energy  PCG.N  1.6%, Southern Energy  SO.N 
1.7%, AES Corp  AES.N  3%
    ** Through Thurs close, SPLRCU down 20% YTD and on course
for biggest yearly pct drop since 2008

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))