Utilities stocks brace for Fed week as XLU slides and yields stay high
U.S. utilities stocks ended the week under pressure, with the Utilities Select Sector SPDR ETF slipping to $42.56 on Friday, down 0.35% for the day and roughly 2% lower on the week. XLU, which follows a group of S&P 500 utilities, often serves as a go-to gauge for the sector’s daily moves.