Base Metals Preview: COMEX copper up over 3% in early Asia
COMEX Copper futures jump on Monday morning in Asia tracking a slide in dollar overseas below 100 mark. The counter is currently seen up by over 3% at $4.83 per pound. Choppy equities and sustained worries over global economic outlook had capped upside in the counter last week. The World Economic Forum's Chief Economists Outlook noted that global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel uncertainty and risk stalling long-term decision-making. The growth outlook is divided, with weak prospects in North America, resilience in Asia-Pacific and cautious optimism in Europe as countries are forced to adapt to a new geoeconomic environment. Meanwhile, Wall Street witnessed selling pressure after President Donald Trump accused China of violating the trade agreement reached last month. The Dow rose 54.34 points or 0.13 percent to finish at 42,270.07, while the NASDAQ slipped 62.11 points or 0.32 percent to close at 19,113.77 and the S&P 500 eased 0.48 points or 0.01 percent to end at 5,911.69. The metal edged up around 2% for May though.
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