Producers of metals and other raw materials rose as traders rotated back into economically cyclical sectors as fears about the Omicron variant subsided.
The SPDR Select Materials exchange-traded fund, which tracks the materials industry group of the Standard & Poor's 500, rose 2% for the session but remains more than 5% below its November peak.
The materials sector was among those that fell sharply Wednesday afternoon when a surprisingly high case tally from South Africa and the first reported Omicron case in the U.S. hit the tape.
Copper futures rose slightly, snapping a two-session losing streak.
Expectations that a tender for wheat by Saudi Arabia would include U.S. exports because of limitations with Russian exports spurred gains in wheat futures and other grains.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-02-21 1627ET
