Utilities stocks were treated to some relief Wednesday when the Federal Reserve did not announce a rate hike, helping XLU to gain of almost 1% on volume that was nearly 50% above the daily average. However, there is chatter that the Fed could hike rates as many as two times before the end of this year.
Utilities Select Sector SPDR
Chart Courtesy: Kimble Charting Solutions
Tom Lydon’s clients own shares of TLT.