At one point, there was a pretty big obsession with “Dr. Copper” the industrial commodity that was said to possess a PhD in economics due to its ability to forecast the economy.
In other words, the price of copper has at times been seen as an important economic indicator.
There’s been less talk about that lately that then in the past.
But still it’s interesting that it’s having a bad year amidst generally soggy economic data around the world.
Here’s a chart, via FinViz:
You can see it’s been losing steam all year, and today it’s down pretty big again. It could be something related to the global economy. It could just be specific. Perhaps it’s something you should have your eye on.
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