Utilities Select Sector SPDR Fund [XLU] Stock Forecast

Sector ETF report for XLU

Utility stocks have sold off since August, as rising interest rates have given investors alternatives for income. Many stocks in the sector are now trading at double-digit discounts to historical valuations.

The utilities sector has come up with mostly upbeat results this earnings season.

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Chairman Powell is becoming more dovish due to declining inflation. As a result, we expect interest rates to peak soon and likely begin falling again before too long.

Sector ETF report for XLU

Billionaire Elon Musk recently asserted that we are already in a deflationary environment. He also said that the Federal Reserve may very well drive the economy off a cliff due to the fact that it is using outdated data to set interest rates.

Sophie Karp, KeyBanc utilities analyst, joins 'Power Lunch' to discuss whether utilities have peaked and selective buys in the sector.

This is likely to be a pivotal year in terms of elevated adoption of renewable energy sources around the world, indicating that traditional utilities can play a more prominent role in the proliferation of more environmentally friendly energy consumption and sources.

Utilities Select Sector SPDR Fund is a US stock and trading under the symbol XLU

Utilities Select Sector SPDR Fund stock price is $63.7 today.

Yes, Utilities Select Sector SPDR Fund is a publicly traded company.