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Shares of power producers fell as Treasury yields ticked up in the wake of jobs data. The utilities sector has lagged the broad market for much of the year.
“The orientation of the market is still a growth market obsessively focused on which sectors are leading,” which are currently the energy and technology sectors, said Quincy Krosby, chief global strategist at brokerage LPL Financial.
Solar-equipment manufacturer CubicPV is among those who cancelled plans for off-shore factories, and opted for domestic production because of the incentives offered in the U.S.
Write to Rob Curran at [email protected]
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