Copper Rises on Fed Stimulus Outlook After Jobs Data
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Copper futures rose on speculation that the Federal Reserve will hold off on scaling back monetary stimulus after U.S. companies added fewer jobs in August than analysts expected.
Payrolls climbed by 169,000 workers, trailing the 180,000 median estimate of economists in a Bloomberg survey, and the July figure at 104,000 was smaller than the government estimated, Labor Department statistics showed today. The Fed is monitoring jobs as part of its evaluation on maintaining bonds purchases in U.S., the world’s second-biggest copper consumer.