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Trump Tug of War Pits Stock Bulls Against Utility Investors

  • Sentiment on utility stocks pushed to opposing extremes
  • Bid for yield-cushion arrives in richly-valued market
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Markets, Americans Await Trump's Budget Details

There’s a fight underway for the heart of the defensive trade: utility stocks.

In one corner, optimism is seeping through the options market as power companies head toward their longest stretch of gains in eight months. In the other are exchange-traded fund investors who are yanking assets and driving up bearish bets.