Dow Jones Utility Average Testing Bull Market High

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The Dow Jones Utility Average (DJUA) is testing November 2017’s all-time high at 779 and could break out in the coming months, entering a strong uptrend. That rally would surprise skeptical market watchers who expect this sleepy sector to underperform due to the market’s growing risk appetite. It would also tell sidelined investors to take a closer look at yield plays as we exit the second decade of the 21st century.

The rally is unfolding despite a bankruptcy filing by DJUA component Pacific Gas and Electric Corporation (PCG) in response to potential liabilities incurred during destructive California wildfires. That stock’s market cap has plunged with price in recent months, suggesting that the index would be trading much


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