Materials Up as Dollar Weakens -- Materials Roundup

Producers of metals and other raw materials rose as traders bet the sector would benefit from a weaker dollar.

The U.S. dollar slipped after a mixed December inflation report. Prices of consumer goods rose 3.4%, on average, in December, according to the Labor Department, accelerating from the 3.1% increase in November, though still well shy of readings above 6% 12 months ago.

Analysts said the report was unlikely to sway Federal Reserve's policy plans. Still, gains moderated after Cleveland Federal Reserve President Loretta Mester threw cold water on market expectations of an interest rate cut as soon as March.

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(END) Dow Jones Newswires

01-11-24 1808ET