Utilities companies outperform broad market
The major averages have down slightly from session highs with the S&P 500 up 3.3%, the Dow up 3.7%, and the Nasdaq up 2.7%. Interestingly, the utilities sector (+4.5%) is among today's sector leaders. Utilities companies provide investors a relatively high, and safe, dividend yield, which is attractive when Treasury yields are near zero. Currently, the benchmark 10-yr yield is down four basis points to 0.80%. Notable gainers include Duke Energy (DUK 78.90, +4.37, +5.9%) and Sempra Energy (SRE 120.09, +6.07, +5.3%).