London Metal Exchange (LME) three-month copper shed $92 or nearly 1 percent to close at $8,013 a tonne.
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Saturday, 12 May 2012
COPPER
Copper prices in both London and New York have lost nearly five percent, slicing the year’s gains in half.
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GOLD
Gold fell almost 1 percent on Friday as fears over a worsening European debt crisis and sharp losses in equities and commodities sent the precious metal to its biggest weekly decline this year.
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U.S. MARKET UPDATE
U.S. stocks fell for a second straight week, driving the Dow Jones Industrial Average to the biggest loss of 2012.
The Dow slipped 217.67 points, or 1.7 percent, to 12,820.60 for its biggest weekly decline of the year.The S&P 500 fell 1.2 percent to 1,353.39, the lowest level in two months. The index dropped 3.6 percent over two weeks, trimming its 2012 gain to 7.6 percent.
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Friday, 11 May 2012
ASIAN STOCK
Asian shares retreated on Friday, spooked by JPMorgan’s $2 billion huge loss from a failed hedging strategy, with investors warily watching political turmoil in the euro zone as they await Chinese data for clues on its growth outlook.
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U.S.STOCK
U.S. stock index futures fell sharply on Thursday evening as JPMorgan Chase & Co stunned investors with news that its chief investment office had incurred “significant mark-to-market losses” that it said could “easily get worse.”
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U.S.TREASURY
U.S. Treasury debt prices dropped on Thursday as stronger-than-expected U.S. jobless claims data and a pause in the steady stream of worrying news from Europe helped ease appetite for safe-haven government debt.
The sale of 30-year bonds notched a high yield of 3.090 percent, slightly below the yield in the when-issued market before the auction. The when-issue market is considered a proxy for where the high yield will come in at auction.
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