Producers of metals and other raw materials rose, recouping some recent losses as investors recalibrated expectations for interest rates.

Cyclical sectors such as materials have fallen sharply since the Federal Reserve's policy statement, indicating that the central bank was not done with its fight against inflation.

"I don't know that they're totally finished," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "Maybe we get one more hike ... whether we get one or none, for all intents and purposes it's close to the end." The Fed is "using the bully pulpit right now, because if they come out too strong and say 'we're done,' they're going to have negative consequences as a result," added Joyce.

The Labor Department said it's investigating plants operated by poultry producers Perdue Farms and Tyson Foods following a New York Times Magazine report that some of the companies' contractors employed migrant children to clean meat-processing plants.


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

(END) Dow Jones Newswires

09-25-23 1801ET