Base Metals Preview: COMEX copper climbs to three-week high

COMEX copper climbed to a three week high of $6.76 per pound on Wednesday, up more than half a percent on the day as dollar retreated after a brief spike in the previous session. Meanwhile, US stocks gave back some ground after an early surge but maintained a positive bias throughout the trading session on Tuesday. The major averages all moved to the upside after ending the previous session mixed. The tech-heavy Nasdaq advanced 171.11 points or 0.7 percent to 26,151.80, the S&P 500 climbed 24.42 points or 0.3 percent to 7,677.28 and the Dow rose 160.24 points or 0.3 percent to 53,577.40.

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