Skip to content
Subscriber Only

Copper Jumps Most in Two Weeks on U.S. Housing, Stimulus Bets

Copper climbed the most in two weeks as surging new-home sales in the U.S. signaled stronger metal demand, and Federal Reserve Chairman Ben S. Bernanke defended stimulus measures intended to spur growth.

Purchases of new homes in the U.S. jumped 15.6 percent in January from December to the highest level since July 2008, a report from the Commerce Department showed today. “We do not see the potential costs of the increased risk-taking in some financial markets as outweighing the benefits of promoting a stronger economic recovery,” Bernanke said today in testimony before the Senate Banking Committee.