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Financial
Concern over the spread of mortgage debt problems to the broader credit markets and fears of an impending economic recession drove the major market averages lower during the fourth quarter of 2007. The utilities that make up the Edison Electric Institute (EEI) Index benefited from their traditional role as a safe haven in times of economic weakness, and the index returned a positive 6.8 percent in the fourth quarter versus the negative 3.9 percent for the Dow Jones Industrials Average (DJIA), negative 3.3 percent for the S&P 500, and negative 3.8 percent for the Nasdaq.
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