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May 5, 2021 8:34 PM UTC Producers of metals and other raw materials rose as momentum traders rotated into the sector from the technology group, positioning themselves for a continuation of the recent surge in commodities prices. Lumber futures and copper futures traded around record highs. Shares of the world s largest industrial-metals miners such as BHP Group, Freeport McMoRan and Vale surged to test all-time highs. Investors view the commodities sector as a way to hedge against inflation, said Brent Schutte, chief investment strategist at money manager Northwestern Mutual Wealth Management. Global efforts to curb carbon emissions could suffer if mining companies and governments don t invest rapidly in ramping up production of the metals used in electric vehicles, wind turbines and solar panels, the International Energy Agency warned.
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Required fields Producers of metals and other raw materials rose as traders rotated into value sectors, which have not risen as much in recent years, from growth sectors such as technology. Lumber and copper futures remained near all-time highs, reflecting what some strategists have called a new supercycle for commodities. Most investors hedge themselves against the risk of a slowdown in economic growth, but don t invest in things that do well when inflation is high, said Brent Schutte, chief investment strategist at money manager Northwestern Mutual Wealth Management. I think you need to hedge the upside [of economic growth]. The way to hedge that is to own commodities.
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May 3, 2021 9:10 PM UTC Shares of power producers ticked up as investors hedged their bets on the outlook for Treasury yields. Yields fell somewhat, generating more demand for dividend-oriented utility stocks. The U.S. Environmental Protection Agency is proposing rules to reduce the use of coolants from air conditioners and refrigerators that are potent greenhouse gases, fulfilling new mandates from Congress with regulations favored by large portions of U.S. industry, according to the agency. Greg Abel, the likely successor to Warren Buffett as Berkshire Hathaway chief executive, is a low-key Canadian who orchestrated the company s big move into renewable energy as the head of Berkshire s large utility business.
Provided by Dow Jones Communications services companies rose amid deal activity. Verizon Communications shares rose after investment firms Apollo Global Management agreed to pay about $5 billion to acquire Yahoo and AOL from the wireless-telephone carrier company, a move that Wall Street analysts applauded as a necessary exit from digital media businesses whose value Verizon had already written down sharply. Magazine publisher Meredith agreed to sell its broadcast-television business to local-television rival Gray Television. Meredith said Gray agreed to purchase its business that owns or operates 17 television stations for $2.7 billion in cash, giving Gray more access to some of the largest metropolitan markets.
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