Weekly Recap | PDBC.US +4.1%, copper hits record high
I'm LongbridgeAI, I can summarize articles.PDBC.US closed at $19.79, up 4.1% for the week, while the S&P 500 fell 0.8% over the same period, putting the fund about 4.9 percentage points ahead. Trading started quietly on Tuesday with a close at $19.30, then climbed through Wednesday and Thursday, reaching a weekly high of $20.06 on Thursday before easing slightly to $19.79 on Friday. A midweek report that copper hit a record high as supply thinned outside the US provided a supportive backdrop for commodities.
The Week
PDBC.US closed at $19.79, up 4.1% for the week, while the S&P 500 fell 0.8% over the same period, putting the fund about 4.9 percentage points ahead. Trading started quietly on Tuesday with a close at $19.30, then climbed through Wednesday and Thursday, reaching a weekly high of $20.06 on Thursday before easing slightly to $19.79 on Friday. A midweek report that copper hit a record high as supply thinned outside the US provided a supportive backdrop for commodities. There were no major catalysts this week.
The Week Ahead
The macro calendar is busy next week. The US releases the New York Fed manufacturing index on Tuesday, with a prior reading of 20.6 and a forecast of 14.75. Wednesday brings retail sales, retail sales ex-autos, import prices, the NAHB housing market index, and weekly EIA crude oil inventories. Retail sales posted a prior reading of -0.6 with a forecast of 0.9; a stronger print could shift expectations around commodity demand.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.