Base Metals preview: COMEX copper moves upside in early Asia

COMEX copper bounces by around half a percent on Tuesday morning in Asia as stocks on Wall Street moved back to the upside during trading on Monday. The major averages all moved higher on the day, although the Dow posted a relatively modest gain. The major averages finished the day off their highs of the session but still in positive territory. The Nasdaq advanced 214.04 points or 0.8 percent to 26,169.38, the S&P 500 climbed 53.09 points or 0.7 percent to 7,676.77 and the Dow rose 146.32 points or 0.3 percent to 52,361.58. Asian stock markets are mixed on Tuesday, following the broadly positive cues from Wall Street overnight, amid easing crude oil prices on optimism over the resolution of the Middle East conflict following reports of a delegation from Qatar has visited Iran to discuss de-escalation of regional conflicts. The red metal is currently trading at $6.58 per pound.

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