Materials Extend Rally -- Materials Roundup

Dow Jones02-16

Producers of metals and other raw materials continued to rally as gold futures snapped a five-session losing streak.

Gold futures spent most of the day higher and ended up 0.1% after U.S. retail sales eased more than expected, prompting worries that a pullback by consumers would spell a weaker outlook for economic growth this year.

Retail sales fell a seasonally adjusted 0.8% in January from a month earlier. Economists had been expecting a 0.3% decline.

Shares of Sylvamo surged after the paper company said a third-party appraisal of its Brazilian forestland showed the value of the land has more than doubled since 2021.

Write to Mary de Wet at mary.dewet@dowjones.com

(END) Dow Jones Newswires

February 15, 2024 18:43 ET (23:43 GMT)

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