Producers of metals and other raw materials rose as a precious-metals rally continued.
Gold futures, which have gathered momentum for months amid geopolitical uncertainty and central-bank rate cuts, rose to $4908.80 an ounce, a new all-time high.
Freeport-McMoRan said fourth-quarter production was significantly hurt by the ongoing suspension of operations at its giant Grasberg mine in Indonesia, offsetting the impact of higher metals prices on its earnings.
Inflation data was more or less in line with economists’ expectations, with the core personal consumption expenditures, or PCE, price index, the Federal Reserve’s preferred benchmark, rising 0.2% in November from the previous month and 2.8% from a year earlier.
Gross domestic product grew at a 4.4% annualized rate between July and September, the Commerce Department said, accelerating from 3.8% in the three months prior.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
January 22, 2026 17:13 ET (22:13 GMT)
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