Producers of metals and other raw materials ticked up as traders positioned themselves for a soft economic landing.
"The Fed will be in a position to cut rates in September as it receives softer data on growth, the labor market, and inflation," said Brian Rose, senior U.S. economist at money manager UBS Global Management, endorsing the prospect of a relatively painless economic slowdown.
"We see risks as skewed toward the Fed staying on hold for longer than in our base case, but we still see additional rate hikes as unlikely."
Australian uranium company Paladin Energy agreed to buy Canada's Fission Uranium for about $833 million, in an all-stock deal that aims to create a significant supplier of the nuclear fuel at a time when prices are at near historic highs.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-24-24 1740ET
