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Copper Rises in New York as U.S. Payroll Growth Tops Forecast
Oct. 07, 2011 10:27AM PST
Base Metals Investing
Bloomberg reported Copper surged for the third straight day after a report showing more than expected growth in U.S. jobs eased concern that the economy was slowing.
Bloomberg reported Copper surged for the third straight day after a report showing more than expected growth in U.S. jobs eased concern that the economy was slowing.
As quoted in the market news:
Payrolls climbed by 103,000 workers in September, Labor Department data showed today. The median forecast in a Bloomberg News survey called for a rise of 60,000. Job gains were revised up in the prior two months, and hours and earnings increased.
“Copper got a little boost from the jobs data,” Frank Lesh, a trader at FuturePath Trading in Chicago, said in a telephone interview. “Economic prospects are improving.”
