Weekly Recap | PICK.US -2.63%, copper swings near record highs
I'm LongbridgeAI, I can summarize articles.PICK.US fell 2.63% this week to $63.35, while the S&P 500 lost 0.8%, leaving the ETF about 1.83 percentage points behind the benchmark. Around 2.31m shares changed hands over the four-session week, with daily volume averaging 577,517 shares, about 11.8% below the recent median. The price held above $66 on Tuesday and Wednesday, gapped lower on Thursday, and then spent Friday trading between $63.04 and $64.15 in a pullback shape.
The Week
PICK.US fell 2.63% this week to $63.35, while the S&P 500 lost 0.8%, leaving the ETF about 1.83 percentage points behind the benchmark. Around 2.31m shares changed hands over the four-session week, with daily volume averaging 577,517 shares, about 11.8% below the recent median. The price held above $66 on Tuesday and Wednesday, gapped lower on Thursday, and then spent Friday trading between $63.04 and $64.15 in a pullback shape.
Sector News
The week’s metals and mining flow centred on copper. Early on, LME copper hit a record high on tight supply and US tariff expectations, with Freeport-McMoRan up 7% at one point. Chile’s August copper shipments fell to a more than one-year low, keeping non-US supply tightness in focus. On Thursday, reports that the White House copper tariff plan had stalled sent the US copper premium sharply lower; Freeport-McMoRan fell more than 7%, and some put options jumped 1,300%. Copper swung widely near record highs, while Nucor traded more independently within steel.
The Week Ahead
Next week’s calendar is US-heavy. Tuesday brings the New York Fed manufacturing index, with a prior reading of 20.6 and a 14.75 consensus forecast. Wednesday is packed with retail and housing data: retail sales prior -0.6 and forecast 0.9, retail sales ex-autos prior -0.3 and forecast 0.6, the NAHB housing market index prior 35 and forecast 34, plus the weekly EIA crude inventory update. These numbers will shape rate expectations and industrial-demand views, feeding back into metals sentiment.
In Short
This week’s decline tracked copper’s wide swings near record highs. On one side, tight supply and tariff talk pushed copper to all-time highs; on the other, the stalled tariff plan and rising yields knocked it back down. The ETF’s latest daily volume sat below its recent median, and the newest session’s large-lot flow tilted toward buying, though both are snapshots rather than weekly trends. The key question ahead is whether copper can stabilise near record levels, and what next week’s US retail and manufacturing data say about industrial demand.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.