COMMODITIES DAYBOOK: Copper Rises to Four-Month High
By Thomas Galatola -
2012-01-26T22:00:00Z
Copper rose to a four-month high in New York after the Federal Reserve extended a pledge yesterday to hold interest rates near zero, potentially spurring metals demand. Tin climbed the most since September.
WHAT TO WATCH: (ALL TIMES NEW YORK)
2:00 p.m. USDA Cattle Slaughter
2:00 p.m. USDA Hog Slaughter
TOP STORIES
-Copper Advances to Four-Month High on Fed Rate Pledge
-Gold Advances to Seven-Week High on Fed Statement; Silver Jumps
-Gold May Reach Record $2,200 This Year on Inflation, Pento Says
-Wheat Rises to Three-Week High on Signs U.S. Exports to Climb
-Russia ‘Cold Assault’ Threatens Wheat Crops, Meteorologist Says
-Cocoa Posts Longest Rally in Three Months; Sugar, Coffee Rise
-Lower Vietnam Robusta Sales May Lift Brazil Prices, Cepea Says
-Brazil Coffee Exports to Fall in January, Rio-Based Broker Says
-Soybeans Rise as Commodities Rally on Rate Outlook; Corn Steady
-Cattle Fall Most in Four Weeks as Demand Eases; Hogs Decline
-Cotton Falls on Disappointing U.S. Exports; Orange Juice Drops
ON THE FRONT PAGES
-Petrobras Plans to Sell $4 Billion in Dollar Bonds, Valor Says
-ThyssenKrupp May Approve Steel Unit Sale Next Week, FTD Reports
ECONOMIC DATA: (ALL TIMES NEW YORK)
8:30 a.m. 4Q US GDP
9:55 a.m. University of Michigan January Consumer Sentiment
TV HIGHLIGHTS:
5:30 a.m. Treasury Secretary Geithner at World Economic Forum
8:15 a.m. ECB President Draghi speaks at World Economic Forum
MARKETS (4:20 p.m. NY Time):
Last Chg %Chg
WTI Crude Oil $99.70 +0.30 +0.3
Gasoline $2.8466 +1.28 +0.5
Natural Gas $2.605 -0.124 -4.5
Copper $3.9015 +7.2 +1.9
Gold $1,729.90 +26.90 +1.6
Wheat $6.5350 +12.25 +1.9
U.S. Dollar Index 79.432 -0.147 -0.2
MSCI All-Country Index 318.28 +1.89 +0.6
U.S. 10-Year Yield 1.93 -6.0BPS -3.0
To contact the reporter on this story: Thomas Galatola in New York at tgalatola@bloomberg.net
To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net
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