Producers of metals and other raw materials rose as stronger-than-anticipated economic data and slowing growth of new U.S. Covid-19 cases stoked optimism about the economic recovery.

New home sales reportedly increased by 0.6% in the U.S. in April. "Investors appear to be growing more confident that the global economy will soon be emerging from recession and are optimistic over prospects of coronavirus treatments and vaccines," said Bob Doll, chief equity strategist at money manager Nuveen Investments, in a note to clients.

Gold futures pared recent gains, falling 1.7% to $1704 an ounce, leaving the precious metal with a roughly 12% advance for the year to date.


 Write to Rob Curran at rob.curran@dowjones.com