Copper Prices Hit All-Time High, Mining Stocks Surge
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 06 2026
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Source: NASDAQ.COM
- Copper Price Surge: Copper prices soared to an all-time high today amid expectations of potential tariffs on refined copper by the Trump administration, leading to a rally in mining stocks, with Freeport McMoRan (FCX) up over 3%, indicating market anticipation of future supply shortages.
- Market Rally: The S&P 500 index rose by 0.32% and the Nasdaq 100 index increased by 0.63%, driven by gains in chipmakers and data storage companies, reflecting the positive impact of strong global equity markets on the US market.
- Economic Data Impact: The December S&P services PMI was revised down to 52.5, below expectations, signaling signs of economic slowdown that could exert short-term pressure on stocks, prompting investors to closely monitor upcoming employment data.
- Interest Rate Expectations: The market is pricing in only a 16% chance of a 25 basis point rate cut at the Fed's January meeting, reflecting a cautious outlook on future monetary policy that may influence the long-term trajectory of the stock market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
