28 days ago • Posted by William Ramstein
More upside for materials, says Jefferies
A rally that has pushed the S&P 500 Materials Index to an all-time high has more room to run, thanks to a combination of economic forces including higher prices for raw materials. Shares in companies such as copper miner Freeport-McMoRan Inc. and lithium producer Albemarle Corp. have soared on commodity price increases, helping to push the index up 98% higher since its crash a year ago. The gains have made the sector the best performing after energy on the S&P 500 in a trend analysts say could continue.