Commodity & Industrial Shares Are Up
5/7/2021 8:32:40 AM
Gold is up nearly $16 to $1,840 an ounce, while Silver is down almost 15 cents to $27.35 as of 9 a.m. EDT.
Early in the week, the S&P 500 saw a rise in commodity and industrial shares. Inflation remains a concern in some sectors, as supply chain shortages and bottlenecks persist.
Treasuries dropped and the dollar strengthened. Meanwhile, oil, Copper and lumber price tags soared. The computer chip shortage is reportedly leading automakers to scrap fancy add-on features to foster continued production. A long-term solution for the problem remains to be seen.
A $2.25 trillion infrastructure and jobs proposal penned by President Biden is in discussions. If passed as is, it would raise the corporate tax rate to 28%.