Producers of metals and other raw materials ticked up as investors bet the Biden administration's stimulus plans would spur demand for copper, steel and other materials.
In prepared remarks, President elect Joe Biden's nominee for the Treasury department, former Federal Reserve Chairwoman Janet Yellen, urged lawmakers to "act big" to avert a protracted economic downturn and put aside concerns about the mounting national debt.
The materials sector has been among the biggest gainers since the presidential election as optimism about stimulus spending has grown.
The open-outcry "ring" in the London Metals Exchange will cease operating after 144 years during which global benchmarks for metals prices were set through hand signals and shouting. The trading floor surrounded by red couches was one of the last bastions of the "pit" activity that once ruled financial markets from bonds to commodities.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-19-21 1720ET
