Producers of metals and other raw materials were flat as an apparent peak in inflation was viewed as a double-edged sword for the sector.
The consumer-price index rose by 0.3% in April, a more muted increase than the 0.4% forecast by economists. The annual rate of "core inflation," excluding volatile food and energy categories, slowed to the most modest pace in April since the onset of the inflation spike in 2021.
Rate-sensitive silver futures rose to their highest level since 2013, as traders banked on a Federal Reserve policy pivot later this year. Gold futures also rose. Further gains for industrial metals could be limited, however, as the category is a leading indicator of inflation.
Retail sales were unchanged in April, the Commerce Department said, as sales at gas stations offset weakness in cars and several other categories.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-15-24 1741ET
