Producers of metals and other raw materials rose as the dollar lost significant ground against rivals after surprisingly soft wholesale inflation data.
U.S. supplier prices rose 0.1% in June from the previous month and by the same increment on an annual basis, the Labor Department said, in a development that could mean the U.S. inflation crisis that began in the wake of the Covid-19 pandemic is coming to an end.
Gold futures, which are particularly sensitive to moves in the greenback, closed at a one-month high. The Mexican peso tested its highest levels against the dollar since 2015.
German chemicals maker BASF reduced its projection for 2023 operating earnings.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-13-23 1744ET
