Base Metals Preview: COMEX copper rebounds over 1% in early Asia

COMEX copper rebounded in early Asian trades on Friday as Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, boosted by strong gains in Japan and South Korea amid a rebound in technology and semiconductor stocks after the recent sell-off on concerns over rising costs of financing AI investments. Asian markets ended mostly lower on Thursday. The Dow shot up 556.21 points or 1.1 percent to 52,177.69. The S&P 500 also rose 25.12 points or 0.3 percent to 7,744.06, while the tech-heavy Nasdaq spent most of the day in negative territory but managed to end the day up 20.16 points or 0.1 percent at 26,713.03. Pull back in dollar is also supporting the red metal which is currently quoting at $6.63 per pound, up 1.05% on the day.

Powered by Commodity Insights