Materials Up Slightly After Rio Tinto Earnings, Fed Minutes -- Materials Roundup

Producers of metals and other raw materials ticked up after mixed earnings from one iron-mining giant and minutes from the Federal Reserve.

Anglo Australian miner Rio Tinto reported a 19% decline in annual net profit and trimmed its total payout to shareholders, citing a drop in prices of aluminum.

"Most participants noted the risks of moving too quickly to ease the stance of policy," said the minutes of the Jan. 30-31 meeting of the Federal Reserve's monetary policy committee. Fed Chairman Jerome Powell has long cited the 1970s stagflationary era as an example of the dangers of allowing price pressures to grow entrenched.

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(END) Dow Jones Newswires

02-21-24 1740ET