Producers of metals and other raw materials were higher as traders await Thursday's U.S. consumer price index data.
A hotter-than-expected read on the April CPI temporarily rattled markets last month. Another elevated U.S. CPI report could increase bets of a more rapid unwind of the Federal Reserve's easy-money measures.
Gold futures pulled back on Tuesday after touching highs above the key $1,900 an ounce level, prompting prices to suffer their first loss in three sessions. Copper prices edged higher, while platinum and palladium were lower.
The Biden administration outlined new measures Tuesday to address widespread supply-chain issues, with a goal of bringing manufacturing back to the U.S. and diversifying access to foreign-made materials such as rare-earth minerals used for batteries.
The steps, which include the creation of a new government supply-chain task force, are the result of a 100-day review that President Biden ordered in February, as the pandemic exposed problems that continue to affect key industries, including auto making.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
06-08-21 1658ET
