Shares of power producers rose as traders rotated into defensive sectors due to resurgent concerns about the artificial-intelligence boom and the Strait of Hormuz. Utilities are considered an evergreen bet due to their regulated business models.
The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the S&P 500, rose 0.9%, and is now up by 5.8% for the year to date. While utilities lag the tech sector for 2026, the selloff in the defensive sector in recent weeks has been more muted than it was in chip stocks and other AI firms.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
July 07, 2026 17:37 ET (21:37 GMT)
