Shares of commodities producers ticked up as traders bet the sector would benefit from accelerated global economic growth. "The regulatory environment is loosening, consumer spending appears solid and jobs growth remains strong," said Bob Doll, chief investment strategist at money manager Nuveen Investments, in a note to clients. "As such, we do not expect a recession any time soon. At the same time, however, we see no catalyst to push the economy into a higher gear unless the White House and Congress make progress on their pro-growth agenda." After interviews with Owens Corning executive, analysts at brokerage Nomura Securities reiterated projections that the price of residential insulation materials will rise about 25% in the next two years.
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(END) Dow Jones Newswires
August 07, 2017 16:26 ET (20:26 GMT)