Utilities, consumer staples, and real estate ETFs post gains despite tech sector drop last week

Last week, the Utilities Select Sector SPDR ETF (XLU), Consumer Staples Select Sector SPDR ETF (XLP), and Real Estate Select Sector SPDR ETF (XLRE) all recorded gains while the tech sector and Nasdaq-100 declined sharply. XLRE led with a 3.4% gain, driven by strong performances from REITs like BXP and Camden Property Trust. XLP rose 2.8%, helped by notable increases in JM Smucker and Clorox, while XLU saw a modest 0.2% gain amid concerns about potential Federal Reserve rate hikes impacting rate-sensitive utilities. These sector ETFs showed resilience in a volatile market, highlighting defensive investment appeal as tech stocks faced significant losses.