Base Metals Preview: COMEX copper steadies around $6.6 per pound mark

COMEX copper steadied on Wednesday after gaining for two consecutive sessions. Firm dollar index cut short gains from positive equities. Stocks on Wall Street gave back some ground over the course of the trading day on Tuesday but continued to turn in a strong performance. The major averages extended a recent upward trend, with the Nasdaq and S&P 500 reaching new record closing highs. The major averages ended the day firmly in positive territory but well off their highs of the session. The S&P 500 climbed 44.98 points or 0.6 percent to 7,818.93, the Nasdaq rose 122.48 points or 0.5 percent to 27,599.79 and the Dow increased 253.38 points or 0.5 percent to 51,521.28. The red metal is currently seen trading at $6.63 per pound, down 0.23% on the day.

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