Shares of power producers rose as Treasury yields fell in the wake of an unexpected decline in U.S. employment in July.
The U.S. lost 23,000 jobs in the month, according to the Labor Department.
The utilities industry group has slumped in recent weeks due to the rise in Treasury yields, which presented a safer alternative to the yield-oriented sector.
Yields are now on the retreat as traders tweak rate expectations.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.