Utilities Garnering Interest
11-Feb-13 14:30 ET
[BRIEFING.COM] The afternoon session has not brought much change to the markets as the S&P 500 continues to trade lower by 0.1%. Since midday, the benchmark index has chopped around a two point range amid below-average volume.
The financial space has held its ground as the top performing sector within the S&P. Meanwhile, energy stocks have trailed behind the broader market since the open. A late morning surge sent the price of crude oil to fresh highs, but the move was not reflected in energy stocks.
Recent trade has seen a slight rise in defensive-oriented utility stocks. Electricity providers are responsible for the bulk of the move and the SPDR Utilities Select Sector ETF (XLU 36.78, +0.09) is now higher by 0.2%.