Stocks Waver Trump Boosts Copper

Stocks Waver Trump Boosts Copper

US equity markets displayed cautious trading on Tuesday, concluding with mixed performance. The Dow Jones Industrial Average settled at 44,240 points, reflecting a 0.4% decline compared to the previous day’s close.

The broader S&P 500 registered a slight decrease, closing around 6,225 points and down 0.1%. In contrast, the Nasdaq 100 showed a marginal gain, standing at approximately 22,700 points, representing a 0.1% increase.

Significant volatility was observed in commodity markets. An announcement from the US President regarding the imposition of a 50% tariff on copper imports triggered a sharp price surge. The metal’s value briefly climbed more than 12%, reaching a record high. The timing for the implementation of these tariffs remains unspecified.

The euro strengthened moderately against the US dollar, trading at $1.1723 per euro, with one dollar equivalent to €0.8530.

Gold prices experienced notable retreat, with the spot price falling to $3,302 per fine ounce, a 1% decrease. This translates to €90.56 per gram.

Crude oil prices, meanwhile, demonstrated a substantial increase. Brent North Sea crude traded at $70.29 per barrel as of late evening local time, a rise of $0.71, or 1.0%, compared to the previous day’s closing.