COMEX copper pulls back slightly in early Asia but stays around one month high attained in the previous session as a break above $5 per pound extends for the red metal. The major averages on the Wall Street closed higher for the fourth consecutive session, continuing to claw their way back towards their record highs. The Dow climbed 314.67 points or 0.7 percent to 47,427.12, the Nasdaq jumped 189.10 points or 0.8 percent to 23,214.69 and the S&P 500 advanced 46.73 points or 0.7 percent to 6,812.61. Also, weak US economic data bolstered investor hopes for a Federal Reserve interest rate cut next month. Copper futures are currently trading at $5.18 per pound, down 0.27% on the day after surging by 3.82% in the previous session alone. The counter has zoomed around 3.40% so far this week.

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