Elena Nikulina

Mike McGlone: Copper and S&P 500 gains linked to U.S. stock market trends

Mike McGlone: Copper and S&P 500 gains linked to U.S. stock market trends
Copper tracks U.S. stock market closely

Mike McGlone, industry influencer, observes that copper's stability has become highly dependent on a strong U.S. stock market. McGlone points to both copper and the S&P 500 rising about 5% year to date through April 29, highlighting potential risks across assets when such correlations strengthen.

McGlone previously highlighted that U.S. stock market capitalization dropped by about $3 trillion in 2024, raising concerns over rising volatility in a recent report. He has also pointed to the potential for a rebound in U.S. Treasuries after their extended decline compared to gold in his earlier analysis. These observations follow his latest comments on asset correlations.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
Weekly Top Bonuses
up to $2,500
deposit bonus for all clients
CLAIM BONUS
Your capital is at risk.