Producers of metals and other raw materials rallied on hopes of a second round of stimulus relief.
A mixed jobs report did little to break the upward momentum in copper futures, which are trading at a seven-year high.
Cyclical stocks have rallied recently as "any promise of a stimulus package has the market seeing an underpinning of the economy," said Quincy Krosby, chief market strategist at Prudential Financial.
"Now you have, perhaps...a lame-duck stimulus package."
Ivan Glasenberg, the longtime chief executive of Glencore, is stepping down from the global mining and trading giant he built, saying Friday he would retire in the first half of next year, handing the reins to Glencore executive Gary Nagle.
Meatpacking company JBS USA Holdings said it has removed hundreds of at-risk workers from a Colorado beef plant in response to rising Covid-19 infections, as the U.S. meat industry seeks to defend itself against the pandemic's current surge, as reported earlier.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-04-20 1637ET
