Commodity

COMEX copper is moderating gains around $4.36 mark on Thursday morning in Asia after having hit a near two-year high of $4.39 earlier in the week. Currently, the commodity is trading at $4.36 per pound, up over half a percent on the day. Moderation in gains came on the back of weakness in overnight equities. The Dow posted a relatively modest loss, edging down 45.66 points or 0.1 percent to 37,753.31. The S&P 500 slid 29.20 points or 0.6 percent to 5,022.21 and the Nasdaq tumbled 181.88 points or 1.2 percent to 15,683.37. Meanwhile, the commodity will be watchful of the ongoing concerns about the outlook for interest rates following Tuesday's hawkish remarks by Federal Reserve Chair Jerome Powell. According to IMF?s latest World Economic Outlook projections, growth this year and next will hold steady at 3.2 percent, with median headline inflation declining from 2.8 percent at the end of 2024 to 2.4 percent at the end of 2025.

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