Producers of metals and other raw materials rose after muted wholesale-inflation data eased fears that the Federal Reserve would postpone rate cuts to 2025.
The producer price index rose 0.2% in March from a month earlier, in line with economists' targets. A surprising up-tick in the consumer-price index reported Wednesday had caused a rout in rate-sensitive stocks.
Global prices for cocoa and coffee have hit all-time highs as severe weather events in West Africa and elsewhere hamper production, the latest sign of how weather patterns could wreak havoc with soft commodities.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-11-24 1713ET
