Counting the reasons for copper’s decline

John Spence from Marketwire looks at copper’s sharp pull-back last week. He ponders whether the lower price has broder implications for the economy as a whole:

The red metal’s slump is a worrying sign for stock bulls and the global recovery because copper is seen as a leading economic indicator.
“There is an old saying that every stock bull market has a copper top,” Stock Trader’s Almanac said in a note last week.
“While not entirely true, as a key industrial material and benchmark of economic growth, copper tops have coincided with stock bull market tops on enough occasions to warrant concern,” the report added.

Michael Allan McCrae wrote this story. You can contact him at [email protected]or @michaelmccrae.

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