Utilities Extend Gains to Most in 9 Months After Rate Rise

Updated on
  • S&P utility index climbed 2.7% as Fed increases rates
  • Increase signals Fed doesn't plan to be `agressive': analyst

Why Did Stocks React So Positively to the Fed Rate Hike?

U.S. utility stocks rallied by the most in nine months as the U.S. central bank raised interest rates for the first time since 2006 and signaled that subsequent increases may be gradual.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.