Copper's record run at risk as US shipments calm speculator frenzy - Mining Engineering Online
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Mining Engineering Online
Copper's lightning rally to record highs may not be sustainable in the coming weeks, with action concentrated on the shipment of material to cover exposed short positions in the U.S. Comex futures market rather than tepid demand in top consumer China. Prices on the CME Group's Comex hit a record last week, while benchmark copper on the London Metal Exchange (LME) rocketed on Monday to an all-time peak of $11,104.50 a metric ton, having surged 28% so far this year.
Provided by Dow Jones By Caitlin Ostroff U.S. stocks edged higher Monday, with technology stocks weighing on the broader indexes following a week that ended with the S&P 500 and Dow Jones Industrial Average notching fresh records. The S&P 500 ticked up 0.1%. The index on Friday closed at its 26th all-time high for this year. The Nasdaq Composite Index edged down 0.5% as technology shares declined slightly after the New York opening bell. The Dow Jones Industrial Average added 129 points, or 0.4% points to 34906. Stocks have ground higher in recent days aft...
Provided by Dow Jones By Caitlin Ostroff U.S. stock futures wobbled Monday, following a week that ended with the S&P 500 and Dow Jones Industrial Average notching fresh records, with technology stocks weighing on the broader indexes. Futures tied to the S&P 500 wavered between gains and losses. The index on Friday closed at its 26th all-time high for this year. Nasdaq-100 futures edged down 0.2%, suggesting that technology shares may tick lower after the New York opening bell. Stocks have ground higher in recent days after Federal Reserve officials reitera...
Provided by Dow Jones By Caitlin Ostroff Technology stocks tumbled Monday after ending last week with the S&P 500 and Dow Jones Industrial Average at fresh records. The S&P 500 ticked down 0.1%. The index on Friday closed at its 26th all-time high for this year. The Dow rose 0.6%, while the Nasdaq Composite edged down 1.4%. Stocks have ground higher in recent days after Federal Reserve officials reiterated their commitment to easy financing conditions to aid the economic recovery. President Biden is also proposing additional fiscal spending. A weaker-than-...