Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
OpenAI to Preview GPT-6 Cyber AI Model for Cybersecurity 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Oura IPO Draws Strong Demand Ahead of $2.2 Billion Offering 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
US Appeals Court Upholds Anthropic AI Supply Chain Ban 
Jeff Bezos Invests $32 Billion in Blue Origin as Space Firm Targets Major Growth 
Meta Found Liable in New Mexico Facebook Data Privacy Case 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Suzuki Targets Faster Car Development to Keep Pace With Chinese Rivals 
Novo Nordisk Strikes €1.17 Billion Nanexa Drug Delivery Deal 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
US Backs Musk in Fight Against EU’s €120 Million X Fine 
Add as a preferred source on Google
RBC Capital Markets has upgraded the Utilities sector to Overweight, naming it the top defensive sector, while downgrading Energy to Market Weight. The decision follows a survey of RBC’s US analysts, which revealed Utilities as having the strongest performance outlook among all sectors.
RBC strategists highlighted positive earnings per share (EPS) and sales revisions, coupled with the sector's resilience to US political debates on taxes and tariffs. They also noted Utilities’ strong performance during the 2018 China trade war and its lower sensitivity to US dollar fluctuations as key factors.
In contrast, the downgrade of Energy reflects a weaker performance outlook, driven by softer fund flows and sluggish earnings revisions. RBC stated the move was partly strategic, accommodating the Utilities upgrade while maintaining three Overweight sectors. Despite the downgrade, RBC emphasized that Energy remains a Market Weight sector with valuation appeal and political tailwinds offering potential advantages.
RBC also maintained Overweight ratings on Financials and Communication Services, citing continued confidence in their growth prospects.
