Why Utility Stocks Are Rallying Again Today
Shares of utilities rallied sharply today. Several had surged more than 10% as of 3:15 p.m. EDT, led by American Water Works (NYSE: AWK), Southern Company (NYSE: SO), and NextEra Energy (NYSE: NEE).
While the overall rally in the stock market helped power shares of these utilities, they're also getting a boost from investors who are buying defensive stocks to position their portfolios for a potential recession.
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Source Fool.com
