Producers of metals and other raw materials rose as the dollar declined on bets that inflation data later in the week would show alleviated inflation pressures.
Federal Reserve Bank of San Francisco President Mary Daly said rate increases of either a quarter percentage point or a half percentage point were on the table for the Fed's Jan. 31-Feb. 1 meeting. "The data continues to be mixed and therefore it is still too early to expect the Fed to pivot policy," said strategists at money manager UBS Global Wealth Management, in a note to clients.
"We expect markets to remain volatile and do not think macroeconomic conditions support a sustained rally in equities."
Brazilian authorities detained more than 1,000 supporters of former President Jair Bolsonaro and removed Brasília's federal district governor, a key ally, from his post Monday after protesters stormed the presidential palace a day earlier in what officials said was an attempt to overthrow the country's newly-elected president.
Cargill said its chief financial officer, Jamie Miller, is stepping down for another opportunity as the agricultural giant reshuffles its executive leadership.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-09-23 1733ET
