Shares of Freeport were rising 2.5% to $58;
(SCCO - Get Report) was 1.3% higher at $41.03. Copper miner
(TGB - Get Report) was up 0.8% to $5.99.
Meir said a rate increase coming out the European Central Bank by Thursday could set the markets back, though the move would likely be shrugged off by the markets as easily as the markets did with the recent Chinese fiscal tightening, he said.
(WIRE - Get Report) was up 0.9% to $26.45, while fabricator
(LIWA) was down 1.7% to $8.72.
(Published at 9:49 am)
Cotton was popping by the daily exchange limit of 7 cents, or 3.5%, to $2.08 a pound, spurred by expectations of delayed harvests in Australia.
Reports say that cotton gathering in the various cotton growing regions of Australia have been delayed by wet weather.
In March, Australia's Bureau of Meteorology said the cotton-growing regions of Australia may experience more rain than usual in April and May.
"Follow-through buying today on technical considerations in May and July, and a combination of strong technicals, and a developing bullish fundamental story for December," were allowing cotton to rally, said veteran cotton industry analyst Mike Stevens.
Apparel companies were trading in positive territory.
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts