Base Metals preview: Copper rebounds from 2-weel low amid positive cues from equities

COMEX copper is seen rebounding mildly from a two-week low on Monday morning in Asia tracing Asian stock markets which are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, as weaker-than-expected U.S. monthly jobs data led to optimism the US Fed may hold off on raising interest rates later this month. Stocks on the Wall Street gave back some ground after an early surge but continued to turn in a strong performance throughout the trading session on Friday. The major averages ended the day well off their highs of the session but still firmly positive. The Nasdaq jumped 319.27 points or 1.2 percent to 27,190.86, the S&P 500 advanced 56.27 points or 0.7 percent to 7,722.72 and the Dow climbed 250.40 points or 0.5 percent to 51,176.96. The red metal is currently quoting at $6.59 per pound, up half a percent.

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