There is a faster way to read the U.S. economy than reading the economic data. Look at the price of copper.
The metal has gained nearly 50% over the past 12 months, its strongest rolling annual advance since 2021. It is also testing all-time highs after reaching $6.52 per pound on Monday, trading just 2% below May’s all-time highs.
Copper appears to be saying the economy is booming and industrial stocks had already seen it coming.
Why Wall Street Calls It Doctor Copper
Copper has never published an economic forecast, and it has never had to revise one.
