Utilities Outperform Broader Market
03-Apr-13 14:05 ET
[BRIEFING.COM] Recent trade saw the S&P 500 continue its session-long slide. The benchmark average is now lower by 1.1% with five of ten sectors trading with losses larger than 1.0%. Energy and financials remain as the two weakest performers with the sectors trading on their respective lows.
After making a brief appearance in positive territory, the SPDR Utilities Select Sector ETF (XLU 39.10, -0.04) has slid back to its session lows. The ETF is now off by 0.1%, and is the best performing sector ETF.
In addition, the S&P 500 notched its recent lows amid reports indicating the United States is sending a missile defense battery to Guam. This follows the increased war rhetoric coming out of North Korea in recent weeks.