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 Market
Copper futures fell below $6.3 per pound on Wednesday, giving back gains from earlier in the week as escalating tensions in the Middle East and growing expectations of central bank interest rate hikes weighed on the outlook for industrial metals. The US launched “self-defense strikes” against Iran in response to the downing of an American helicopter, threatening to undermine peace efforts while fueling concerns about inflation and higher borrowing costs. Investors also awaited the latest US inflation data after stronger-than-expected jobs figures last week reinforced expectations of a Federal Reserve rate hike later this year. Meanwhile, Jefferies expects copper prices to remain higher for longer than previously projected, pointing to an average annual supply deficit of 491,000 tons through 2030 and a slower-than-expected recovery at the Grasberg mine.
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