Utilities Inching to Fresh Session Highs
05-Mar-13 12:30 ET
[BRIEFING.COM] The S&P 500 is adding 1.0% as the index continues to hover near its best levels of the day. Although the broader market has shown little change in recent trade, consumer staples, financials, and materials have slipped off their highs suggesting some profit taking is occurring into the afternoon.
Meanwhile, the defensively-oriented utilities sector has inched higher in recent action. The SPDR Utilities Select Sector ETF (XLU 38.12, +0.24) is higher by 0.6%.
With equities trading firmly higher, the CBOE Volatility Index (VIX 13.32, -0.69) is off by 5.0%. Though spot VIX trades notably lower, VIX futures are registering much slimmer losses.