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Commodity News Details
Base Metals Preview: COMEX copper higher amid strong gains in equities
05-May-2025 09:19

COMEX copper edged up slightly on Monday morning in Asia tracking weakness in dollar overseas that typically supports metal prices. Besides, strong gains posted by equities in US on Friday following the Labor Department report showing U.S. job growth far exceeded estimates in the month of April are keeping the red metal propped up. The Nasdaq surged 266.99 points or 1.5 percent to 19,977.73, the S&P 500 shot up 82.53 points or 1.5 percent to 5,686.67 and the Dow jumped 564.47 points or 1.4 percent to 41,317.43. For the week, the tech-heavy Nasdaq soared by 3.4 percent, while the Dow and the S&P 500 spiked by 3.0 percent and 2.9 percent, respectively. The counter is currently quoting higher at $4.68 per pound.

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