Utilities Sector Surprisingly Flourishes in 2024: 5 Top Picks

The utilities sector is generally defensive in nature. U.S. stock markets witnessed an impressive bull run in 2023, but the utility sector suffered a blow. Of the 11 broad sectors of the market’s benchmark — the S&P 500 Index — the Utility sector declined more than 11%.Wall Street’s bull-run continues in 2024 except for a brief setback in April. Cooling economic data, especially the labor market data, a slow GDP growth rate and a slowly declining inflation rate boosted investors’ confidence in risky assets ...