Producers of metals and other raw materials rose, but not by as much as the broad market, as traders recalibrated bets on the path of Federal Reserve policy and economic growth.
The U.S. dollar recouped some of its recent losses against rivals amid doubts that the Fed's confidence in its defeat of inflation was warranted.
"Some of the economic data is seeming to wane some, but some recent data is showing inflation starting to heat up, so it's almost the reverse Goldilocks, I suppose," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
"As an equity investor, we have to remind ourselves that earnings continue to come in quite nicely here, and are forecast to continue to do so. For whatever reason, on the earnings front, things continue to look good."
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-06-24 1717ET
