COMEX Copper futures are steadying around a two-week high supported by dollar weakness overseas that generally bodes well for the red metal. However, mixed cues from equities are seen capping upside for the commodity. Stocks on the Wall Street showed a lack of direction over the course of the trading day on Thursday and eventually closing narrowly mixed. While the Nasdaq edged down 20.71 points or 0.1 percent to 16,286.45, the S&P 500 inched up 7.00 points or 0.1 percent to 5,282.70. The narrower Dow showed a more significant move to the downside, tumbling 527.16 points or 1.3 percent to 39,142.23. For the holiday-shortened week, the S&P 500 slumped by 1.5 percent, while the Nasdaq and the Dow plunged by 2.6 percent and 2.7 percent, respectively. Currently, the counter is quoting almost flat at $4.73 per pound. On the MCX, copper futures were holding above Rs 840 per kg. Powered by Commodity Insights |