The iPath Dow Jones-UBS Copper Subindex Total Return ETN ( JJC) was popping 3% to $57.90, and Global X Copper Miners ETF ( COPX) was up 0.8% to $20.79.
NEW YORK ( TheStreet) -- May copper futures extended recent gains on Wednesday, rising 2.5% to $4.37 a pound and hitting a one-week high amid speculation that Chinese rate hikes won't temper the country's appetite for copper.
(Published at 12:08 pm) The Japanese yen has sunk to a six-month low against the U.S. dollar on speculation that Japan's central bank will take longer than other countries to raise interest rates. The U.S. dollar was rising 0.6% against the Japanese currency at 85.329 yen. On Wednesday, the U.S. currency hit a six-month high against the Japanese currency at 85.515 yen.
U.S. Treasuries were falling on speculation that the Federal Reserve could tighten monetary policy by year-end, along with an influential investor's criticism of government bond yields and rumors that the Fed is draining its reserves.
(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.
The Buckle ( BKE) was rising 1.1% to $40.92, Urban Outfitters ( URBN) was adding 2.5% to $31.45, The Wet Seal ( WTSLA ) was gaining 4.1% to $4.53 and Pacific Sunwear of California ( PSUN) was popping 2.8% to $3.74.Limited Brands ( LTD) was adding 0.9% to $34.80, Abercrombie & Fitch ( ANF) was gaining 2.9% to $67.45, Zumiez ( ZUMZ) was popping 3.7% to $28.43 and Aeropostale ( ARO) was rising 3% to $25.79.
U.S. banking giant Citigroup ( C) is planning to bolster its commodity team by one-third over the next two years to profit from the gains in copper, gold and cotton, according to a Bloomberg report. Wheat for May delivery was rising 0.2% to $7.88 a bushel on global weather concerns. "Once we get through this week's USDA (U.S. Department of Agriculture) report,
|More on Earnings Today's Top Earnings|