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Market Digest: Utilities Slide as Oil Services Gain Amid Crude Price Recovery
Market Digest: Utilities Slide as Oil Services Gain Amid Crude Price Recovery
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BTCCSquare news:
Vistra Energy led utilities lower after a Jefferies downgrade cited valuation risks and political uncertainty, shedding recent gains. Meanwhile, Halliburton and Baker Hughes rallied alongside Brent crude's 1.8% climb as inventory data eased oversupply concerns.
The S&P 500 retreated 0.6% as Fed Chair Powell tempered rate cut expectations, with Generac Holdings plunging 10% despite maintained buy ratings. Analysts flagged weakening residential demand for backup generators even as data center opportunities expand.
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