Producers of metals and other raw materials rallied as the victory of two key Senate races by the Democrats spurred a rotation out of the technology sector and into sectors tied to the domestic economy.
The Democrat Raphael Warnock defeated Republican Sen. Kelly Loeffler in a hotly contested runoff election, making him the first Black American to represent Georgia in the Senate and the first Democrat to do so since 2005.
Mr. Warnock's Democratic colleague, Jon Ossoff, prevailed in his own race against incumbent David Perdue, completing a Democratic majority in the Senate. That could lead to a wave of government spending on infrastructure, projects likely to consume large quantities of copper, steel and other industrial metals.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-06-21 1745ET
