Base Metals Preview: COMEX copper edged higher in early trades

Copper edged higher on the back of positive overnight equities and DXY staying under 102 mark. The tech-heavy Nasdaq pulled back slightly below the unchanged line, although the Dow held on to a strong gain. The Dow reached its best closing level in over a month, jumping 529.85 points or 1 percent to 52,495.88. The S&P 500 also rose 21.84 points or 0.3 percent to 7,712.57, but the Nasdaq edged down 6.07 points or less than a tenth of a percent to 26,424.82. the red metal is currently quoting at $6.61 per pound, up marginally on the day.

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