Materials Up Sharply on 'Goldilocks' Hopes -- Materials Roundup

Producers of metals and other raw materials rose sharply amid expectations for a "Goldilocks" scenario of global economic growth that's neither too hot nor too cold.

Traders ramped up bets on a reading of muted inflation in Thursday's report, and solid economic data later in the week. "We're talking about a fairly tempered and gradual slowdown, and, so far, the consumer's been resilient ... and all indications are that earnings are likely to surprise on the upside," said Oliver Pursche, senior vice president at financial advisory Wealthspire.

Copper futures topped $9,000 a metric ton for the first time since mid-June, as optimism about Chinese demand coincided with curtailment of South American mining. The metal is sometimes dubbed the "Dr. Copper" because its price movements have a good record of foreshadowing economic trends.

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

01-11-23 1734ET