US Markets Finish Mixed as Copper Prices Soar on Tariff Speculation

Markets are set to open mildly soggy on Thursday after Wall Street finished mixed. The Dow rose 0.5% to a record high, but the S&P 500 slipped 0.2% and the tech-heavy Nasdaq dropped 0.8%. Traders took some money off the table after four big sessions added US$3.7 trillion to the S&P 500.

The ASX 200 futures are down 0.1%, pointing to a mild start. The US dollar is also feeling pressure, with the AUD/USD at $0.7054, a 0.12% increase. Oil prices fell slightly overnight, with WTI at $75.08 and Brent at $79.40.

Commodities are getting some attention, with copper futures climbing 1.5% to a record US$6.743 a pound. Traders are shipping copper into the US ahead of potential import levies. 'The US basically got all the world's supply of copper sitting in its back door,' said former Goldman Sachs commodities chief Jeff Currie.