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A firm equity market and gains in other commodities like gold and crude oil have sparked speculative buying interest in copper futures, with prices rising 0.54% to $3.0250 per pound on the Comex division of the New York Mercantile Exchange. Traders are keeping a close eye on the
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Market sentiment remained cautious on Friday as investors awaited earnings season, which is set to begin next week. Analyst Meredith Whitney's reduced earnings estimates for Goldman Sachs Group Inc. and Morgan Stanley added to the unease. The Dow Jones industrial average, S&P 500 Index, and Nasdaq
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As the world economy teeters on the brink of a double-dip recession, oil prices have been falling for the sixth straight session, with light, sweet crude for August delivery settling at $71.98 a barrel on the New York Mercantile Exchange. The market's optimism about a robust recovery
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Copper futures continued their upward trend despite a disappointing U.S. jobs report and declines in factory orders, as investors took advantage of the weakened U.S. dollar and bought back previously sold positions. The most-actively traded contract for September delivery rose 3.9 cents, or 1.4%, to settle
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Despite a mixed jobs report from the US, which showed the jobless rate unexpectedly edged down to 9.5% in June but nonfarm payrolls fell by a more-than-expected 125,000, gold futures have turned slightly positive. The most-actively traded contract, for August delivery, was recently up 50 cents at $1,
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Copper futures took a hit on Wednesday morning as traders reacted to a weak report on US existing home sales in May. The market gave back some of Tuesday's gains as the US dollar traded near steady and commodity indexes were weak, leading speculative fund selling. The housing
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Copper futures extended earlier losses following a report that U.S. home sales had plummeted to a record low in May, sparking doubts about future demand for the metal. The decline in home sales, coupled with a rise in the months' supply of new homes, has created a challenging
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The US stock market suffered a loss in late trading as concerns about the economic recovery grew due to a rise in jobless claims and slower manufacturing growth. The Dow Jones Industrial Average fell 0.49%, with the Standard & Poor's 500 Index declining 0.51% and the
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Copper prices are boosting to levels near $3 per pound due to the strengthening euro and robust European industrial production. The European Union's industrial production, which includes 16 countries that use the euro, saw a 9.5% year-over-year increase in April, surpassing economists' expectations. This surge in
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Oil prices are experiencing a sharp decline on Tuesday, with the Brent contract on the ICE futures exchange falling 51 cents to $71.61 a barrel and the West Texas Intermediate contract on the New York Mercantile Exchange trading 21 cents lower at $71.23 a barrel. This reversal comes
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Crude oil prices took a hit in late trading on Friday, falling by over four percent, as weaker-than-expected US payrolls data and a stronger US dollar weighed heavily on the market. The Dow Jones closed below the 10,000 mark, a sharp decline of over three percent, while US Light
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The oil market experienced a brief rally on May 19, 2010, as crude futures rose for the first time in six sessions, boosted by the Federal Reserve's improved outlook for the US economy. Despite concerns over Europe's recovery, oil prices regained some ground, with light, sweet
