Producers of metals and other raw materials rose slightly as traders hedged their bets on the outlook for interest rates and growth worldwide.

U.S. mortgage rates slipped to an eight-month low in the latest weekly survey.

Doubts about growth in China were recently compounded by signs that global central banks plan to keep rates restrictive for the foreseeable future. As a result, the SPDR Select Sector Materials exchange-traded fund, which tracks the materials industry group of the broad S&P 500, is down almost 4% for the year to date -- the biggest loser of the 11 industry groups on the broad gauge, having tested all-time highs in 2023.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-18-24 1753ET