Base Metals Preview: Copper Jumps Amid Renewed Optimism

26 Aug 2022 , 09:05 AM

Copper prices jumped on Friday tracking positive equities amid sustained buying ahead of Federal Reserve Chair Jerome Powells speech in the Jackson Hole Symposium. The major averages all ended with impressive gains. The Dow surged 322.55 points or 0.98 percent to 33,291.78. The S&P 500 climbed 38.55 points or 1.41 percent to 4,199.12, while the Nasdaq ended stronger by 207.74 points or 1.67 percent at 12,639.27. Meanwhile, Chinas near one trillion stimulus to safeguard the worlds second-largest economy renewed the copper market optimism. Copper futures are riding higher by nearly half at percent at $3.71 per pound. Powered by Commodity Insights