Utilities Sector Gets a Big Lift After Fed Stands Pat
The SPDR Utilities ETF surged 2.3% in active afternoon trade, with nine of the 10 of the most-heavily weighted components rising more 2%. The XLU, which has the highest dividend yield--3.6%--among the sector ETFs tracking the S&P 500's 10 sectors, was up 0.7% just before the Federal Reserve said it would stand pat on interest rates. Among the XLU's top holdings, shares of Duke Energy Corp. climbed 2.2%, PG&E Corp. rallied 3.3% and Exelon Corp. rose 2.4%. The only Top 10 holding not rising 2% was Dominion Resources Inc.'s stock , which gained just 1.8%. Higher-yield sectors tend to be more attractive to investors during low rate environments.
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