Power producers' shares fall as investors rotate into tech and cyclicals
Updated
Updated · MarketWatch · May 8
Power producers' shares fall as investors rotate into tech and cyclicals
8 articles · Updated · MarketWatch · May 8
Utilities stocks declined as traders also awaited updates on US-Iran peace negotiations, while BTIG analyst Alex Kania highlighted possible knock-on effects from higher oil prices.
Kania said a rise in oil prices could increase oil output and associated natural gas production, potentially lowering gas prices, a key driver of US electricity prices.
The move reflected a broader cyclical bias in equity markets, with defensive utility names losing favour as investors shifted toward technology and economically sensitive sectors.
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With the Iran war pushing oil past $100, could electricity prices actually fall?
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