This Morning

Commodities weren’t faring nearly as well, with the major commodity indexes up around 0.1% this morning following reports of falling profits at Chinese industrial companies and weaker Chinese producer prices, Reuters reports. In London, LME 3-mo. copper and aluminum were holding on to modest gains around $5,910/mt and $1,736/mt, respectively, while 3-mo. nickel dropped to around $16,720/mt. In New York, COMEX copper futures were little changed around $2.68 per pound while NYMEX crude oil futures rebounded to $56.70 per barrel. In foreign exchange trading, the euro was buying $1.088 while the British pound edged up to $1.286 as the EU reportedly extended the Brexit deadline until Jan. 31.