S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketCopper futures in the US rose past $5.6 per pound, extending the rebound from the three-month low of $5.34 in late March as de-escalatory rhetoric from US and Iranian authorities regarding their war improved the outlook for global manufacturing. Both US and Iranian presidents called for the end of the war should their respective conditions be met, raising hopes that an eventual resolution to the conflict would restart energy exports from the Persian Gulf and prevent a global stagflation crisis.
Besides improving the outlook for factory activity, the pullback in the dollar on lower safety demand supported dollar-priced commodities. Still, copper remained 10% lower since the start of the year, as ample supply dimmed speculative bets that mining output will not keep up with datacenter and grid construction. Stockpiles at LME warehouses were close to their highest in six years, and those at the SHFE were near their highest on record.
