COMEX Copper is attempting to recover some of its lost ground from a three week low on Friday morning in Asia even as weak overnight equities cap upside. On the Wall Street, the Dow managed to snap its ten-day losing streak, inching up 15.37 points or less than a tenth of a percent to 42,342.24, while the Nasdaq slipped 19.92 points or 0.1 percent to 19,372.77 and the S&P 500 edged down 5.08 points or 0.1 percent at 5,867.08. US stocks fell as Federal Reserve announced its widely expected decision to lower interest rates by another quarter point. The central bank also described the economic outlook as uncertain and said the risks to both sides of its dual mandate are roughly in balance. However, the latest Fed projections suggest rates will be in a range of 3.75 to 4.0 percent by the end of 2025 compared to the range of 3.25 to 3.50 percent forecast in September. The red metal tanked under $4.10 per pound and currently quotes at $4.08 per pound, up 0.22% on the day. These are the lowest levels in last three weeks for the counter. Powered by Commodity Insights |