International Paper led the sector, climbing more than 7% following reports that investment firms Lone Star and Atlas Holdings are weighing multibillion-dollar bids for the company’s European packaging division. The potential acquisition sparked investor optimism, contrasting sharply with the broader commodities market's reaction to easing fiscal pressure.

Conversely, FMC Corporation shares struggled, suffering a steep decline after the crop chemicals producer reported earnings that missed Wall Street projections. The discrepancy highlights a market environment where macroeconomic tailwinds are currently battling company-specific headwinds.