Shares of raw-materials companies rose as the dollar weakened in anticipation of a dovish Federal Reserve policy statement and after a report showed a more modest than anticipated increase in durable-goods orders in March. Gold futures neared their highest levels of the year. Freeport-McMoRan ticked up to trade at more than triple its lows from earlier in the year even after the largest U.S. mining company by volumes wrote down its oil-and-gas holdings and posted a $4.2 billion quarterly loss. Investors were encouraged that revenue fell 15% from a year earlier and that the company was standing by its metals-production plans. Hedge funds concentrated on the raw-materials and industrial sectors reported large inflows in the first quarter as investors chased the rebound from the commodities bust.(rob.curran@dowjones.com)

(END) Dow Jones Newswires

April 26, 2016 16:18 ET (20:18 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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