Base Metals Preview: Copper attempts recovery after 1% slide

COMEX Copper futures are attempting rebound after tumbling over 1% in the previous session as some profit selling emerged in the metal. Equities largely held steady but the US dollar index spiked above 98 mark to hit one-week high, adding pressure on the counter. COMEX futures are currently trading at $5.04 per pound, up marginally on the day. MCX Copper also hit Rs 1000 per kg before pulling back. Meanwhile, the Nasdaq climbed 161.81 points or 0.7 percent to 22,941.67 and the S&P 500 rose 24.49 points or 0.4 percent to 6,740.28, although the narrower Dow bucked the uptrend and edged down 63.31 points or 0.1 percent to 46,694.97.

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