COMEX copper extends upside around a four month high on Thursday morning in Asia following a nearly 3% surge in the previous session. The counter is quoting at $5.41 per pound, up half a percent on the day tracking positive cues from overnight equities. The major averages on Wall Street all finished the day in positive territory. The Dow jumped 408.44 points or 0.9 percent to 47,882.90, the Nasdaq rose 40.42 points or 0.2 percent to 23,454.09 and the S&P 500 climbed 20.35 points or 0.3 percent to 6,849.72. The strength in the broader markets came following the release of a report from payroll processor ADP showing an unexpected decrease by private sector employment in the month of November. The data added to recently renewed optimism the Federal Reserve will once again lower interest rates at its monetary policy meeting next week that could further add pressure on the greenback. On the MCX, copper futures gained to Rs 1082 per kg.

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