US STOCKS-Wall St ends down; utilities fall as bond yields jump
(Updates to close)
* Energy shares rise with oil
* Economic slowdown may be more than temporary-Fed's Brainard
* Indexes down: Dow 0.2 pct, S&P 0.1 pct, Nasdaq 0.1 pct
By Caroline Valetkevitch
June 2 (Reuters) - U.S. stocks eased on Tuesday as a jump in bond yields hit utilities and other top dividend payers, but energy gains and optimism Greece is near a deal with creditors limited losses.
The S&P utility index fell 1.4 percent, leading losses among S&P sectors, after U.S. long-dated Treasury debt yields rose to two-week highs. Utilities and other dividend paying shares tend to compete with bonds as investments.
Energy shares gained along with oil prices. The S&P energy index rose 0.5 percent, leading the day's gainers.
"Today the utilities are way underperforming, obviously because people are thinking rates are going to go up sooner rather than later," said Uri Landesman, president of Platinum Partners in New York. Continuación...