Metals
Copper prices were on the rise Wednesday as traders worried that a strike at a major producer would threaten supplies of the metal.
Benchmark contracts for copper were tacking on 4 cents at $3.75 a pound in recent action on the Comex division of the New York Mercantile Exchange. The PowerShares DB Base Metals(DBB) exchange-traded fund, which tracks the value of copper and other industrial metals, was ahead by 1.3%. Workers at a Southern Copper(PCU) facility in Peru are staying off the job for a second day and the action is raising concerns that an already tight market for the metal will get worse, explains William Adams, an analyst at BaseMetals.com in London. Shares of Southern Copper were recently edging lower by 0.2%. In precious metals, silver prices were up a penny at $13.46 an ounce, while gold prices were off 40 cents at $735.90 an ounce. Among agricultural products, cocoa prices were shedding 2.6% at $1,867 a ton, while coffee prices were rising 1% at $1.36 a pound. As for the commodities-producing stocks, Bear Stearns upped its rating on shares of smelter Kaiser Aluminum(KALU) to outperform from peer perform, helping lift the shares almost 7%. RBC Capital Markets raised Kinross Gold(KGC) to an outperform rating from sector perform, sending the shares higher by 1%. Piper Jaffray took coffee seller Green Mountain Coffee Roasters(GMCR) to outperform from market perform, a move that boosted the stock more than 7%.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn MoreOptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn MoreReal Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn MoreStocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,419.86 | 1,313.32 | 2,837.36 | 16.25 |
Oil *
103.00
|
|
DOWN
160.83 |
DOWN
19.10 |
DOWN
33.63 |
DOWN
1.06 |
10 Yr
1.62%
SPDR Gold
151.91
|
|
-1.28%
|
-1.43%
|
-1.17%
|
-6.12%
|
Data delayed 20 minutes |


Connect with TheStreet