Markets Are On A Tear, Copper Is Going Nuts

The market rally is looking pretty good with just two and a half hours until the closing bell.

The Dow’s at 14,985, up 153 points.

The S&P 500 is at 1,615, up 18 points.

Also, copper is at $3.30, up a whopping 6.6%.  Copper is often considered to be a bellwether of the global economy.

All of this comes after a strong jobs report.  This morning we learned that U.S. companies added 165,000 nonfarm payrolls in April, which was much higher than the 140,000 expected by economists.

The unemployment rate slipped to 7.5% from 7.6% a month ago.  This comes as the labour force participation rate remained unchanged at 63.3%.

“Relative to expectations in the wake of the tepid ADP report, the BLS’ vintage represented a “bon cru,”” said Societe Generale’s Brian Jones praising the report.

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