Investors Hide in Utilities Stocks as U.S. Job Growth Weakens
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Utilities Select Sector SPDR (NYSE: XLU) is flat on the day in a market that is painted with red. Stocks in the S&P 500 are down, with the ETF (NYSE: SPY) shedding close to 2 percent intra-day after a weak jobs report.
SPY is down 6.6 percent in the past 30 days compared to XLU which is flat.
Aqua America Inc. (NYSE: WTR) a water and waste-water services company in the US reached fresh, multi-year highs today at $23.30 per share. Yesterday Aqua America, Inc. Chairman and CEO Nicholas DeBenedictis announced that the company is going to transition portions of its larger vehicle fleet to compressed natural gas (CNG), which might help the company cut costs long term.
Shares of electrical utility Duke Energy Corporation (NYSE: DUK) are also performing well, catching a nice pop of 1.7 percent today. In May, Macquarie upgraded DUK from Neutral to Outperform with a price target of $23.50 (up from $23).
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SPY is down 6.6 percent in the past 30 days compared to XLU which is flat.
Aqua America Inc. (NYSE: WTR) a water and waste-water services company in the US reached fresh, multi-year highs today at $23.30 per share. Yesterday Aqua America, Inc. Chairman and CEO Nicholas DeBenedictis announced that the company is going to transition portions of its larger vehicle fleet to compressed natural gas (CNG), which might help the company cut costs long term.
Shares of electrical utility Duke Energy Corporation (NYSE: DUK) are also performing well, catching a nice pop of 1.7 percent today. In May, Macquarie upgraded DUK from Neutral to Outperform with a price target of $23.50 (up from $23).
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