Notably, the core Personal Consumption Expenditures Index, the Fed's preferred inflation measure, showed a reading of 3.5% for October, down from 3.7% in September and 4.3% in June. But the space has staged a rebound lately and is getting a lift from M&A activities.Novel drug launches, low rates, cheaper valuations and easy access to funds should buoy the zone in 2024. Moreover, utilities are generally seen as stable, income-generating investments, making them attractive in a low-rate environment (read: Forget Retail, Buy These 3 Sector ETFs This Holiday Season).