The utilities sector has emerged as the top-performing sector within the S&P 500 so far in 2024. As of Sept. 11, the Utilities Select Sector SPDR Fund (NYSE:XLU) has surged 22% year-to-date, outpacing all other sectors and even surpassing the technology sector – tracked by the Technology Select Sector SPDR Fund (NYSE:XLK) – by 9 percentage points. This marks a significant turnaround for utilities, which trailed tech by 40 percentage points in 2023. Chart: Utilities Sector Outperforms S&P 500, Tech Stocks In 2024Image: Benzinga Pro The Drivers Behind The Utility Sector SurgeThe robust performan…
