Utilities Down on Rate Fears - Utilities Roundup
I'm LongbridgeAI, I can summarize articles.Utility stocks declined due to fears of future interest rate hikes, despite the Federal Reserve keeping rates steady. Fed Chair Kevin Warsh signaled potential hikes later this year to combat inflation. Separately, Brookfield Asset Management and NextEra announced a joint venture to construct a $100 billion AI data center in Kentucky.
Shares of power producers fell amid rate hike fears.
While the Federal Reserve kept rates steady, Fed Chair Kevin Warsh emphasized the board's commitment to bringing inflation down to its 2% target, hinting that hikes were coming later this year.
Investment firm Brookfield Asset Management and power company NextEra entered a joint venture to build a $100 billion AI data center on the site of a Cold War-era uranium-enrichment plant in Kentucky.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
July 29, 2026 17:32 ET (21:32 GMT)
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