Shares of power producers fell slightly as traders hedged their bets on the outlook for Treasury yields.
The utilities sector is among several that has lagged the broad market throughout the current bull market, said one veteran Wall Street strategist. "Although recently improving somewhat, this bull market -- now 17 months old -- has been characterized by narrow and tepid participation," said Jim Paulsen, now an independent market analyst.
"From its inception in October 2022, only two of its 11 sectors -- technology and communications -- have outpaced the overall S&P 500 Index."
GE Vernova, the power-plant equipping arm of General Electric -- which became an independent company -- fell on its market debut.
Shares of Trump Media & Technology slipped as a volatile first couple of weeks on the stock market continued for the parent of Donald Trump's Truth Social network.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-03-24 1750ET
