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Commodity News Details
Copper in recovery mode, S&P 500 hits new record closing high.
24-Jan-2025 17:52
COMEX Copper futures rose today, recovering from a two week low. Prices edged in US trades yesterday amid positive cues from Wall Street on hopes that the US Fed will lower interest rates in the first quarter after US President Donald Trump said he will demand that interest rates drop immediately in the US to stimulate domestic growth. COMEX Copper futures are currently up 0.79% to trade at $4.36 per pound. Meanwhile, in Asia, China's Shanghai Composite index rose 1.15%. Hong Kong's Hang Seng index spiked 1.86%. Japanese Nikkei index ended marginally lower. European stocks saw mostly gains with German DAX index jumping around 0.87%. The US stocks stayed well supported on Thursday. The S&P 500 closed higher for the seventh time in the past eight sessions, hitting a new record closing high.

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