Materials Up on Rate Bets — Materials Roundup
Provided by
Dow Jones
Producers of metals and other raw materials rose as traders rotated into the sector in anticipation of rate cuts.
Gold futures closed near all-time highs as traders positioned themselves for further U.S. dollar weakness.
The personal consumption expenditure price index, the Federal Reserve's preferred gauge of inflation, rose 2.5% in July from a year earlier, remaining close to the Fed's comfort zone, and likely cementing the central bank's plan to start cutting rates in September.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
August 30, 2024 17:47 ET (21:47 GMT)
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