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June 25, 2018, 2:49 p.m. EDT

Dow utilities rally, head for best 8-day stretch in over two years

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By Tomi Kilgore

The Dow Jones Utilities Average /zigman2/quotes/210598062/realtime DJU -1.96% rallied 1.4% toward a two-month high, and toward its best eight-session stretch in over two years, as global trade tensions sent the broader stock market tumbling and fueled a rally in safe-haven Treasurys. The utility sector often acts as a bond proxy given the high relative dividend yield of its components. The implied yield for Dow utilities is 3.34%, compared with the implied yields for the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.76% of 2.20% and for the Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT +1.23% of 1.32%, and the yield on the 10-year Treasury note of 2.880%. The Dow utilities are on track for an eighth-straight gain. The index has run up 6.3% during that win streak, which would be the best eight-day percentage gain since it rallied 6.5% during the eight-day stretch ending Feb. 4, 2016. Among the Dow utilities' best performers Monday, shares of FirstEnergy Corp. /zigman2/quotes/201870541/composite FE -1.46% rallied 2.8%, NiSource Inc. /zigman2/quotes/208795963/composite NI -1.73% climbed 2.4% and American Electric Power Co. /zigman2/quotes/209801263/composite AEP -2.62% gained 2.2%.

/zigman2/quotes/210598062/realtime
US : Dow Jones Indices
824.51
-16.52 -1.96%
Volume: 32.33M
Aug. 11, 2020 3:01p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
28,001.91
+210.47 +0.76%
Volume: 300.72M
Aug. 11, 2020 3:01p
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/zigman2/quotes/210598063/realtime
US : Dow Jones Indices
10,998.26
+133.32 +1.23%
Volume: 234.77M
Aug. 11, 2020 3:01p
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/zigman2/quotes/201870541/composite
US : U.S.: NYSE
$ 29.62
-0.44 -1.46%
Volume: 4.78M
Aug. 11, 2020 3:01p
P/E Ratio
31.09
Dividend Yield
5.26%
Market Cap
$16.29 billion
Rev. per Employee
$901,313
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/zigman2/quotes/208795963/composite
US : U.S.: NYSE
$ 24.38
-0.43 -1.73%
Volume: 1.42M
Aug. 11, 2020 3:01p
P/E Ratio
N/A
Dividend Yield
3.45%
Market Cap
$9.50 billion
Rev. per Employee
$632,435
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/zigman2/quotes/209801263/composite
US : U.S.: NYSE
$ 83.69
-2.25 -2.62%
Volume: 3.76M
Aug. 11, 2020 3:01p
P/E Ratio
21.78
Dividend Yield
3.35%
Market Cap
$42.64 billion
Rev. per Employee
$919,531
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