COMEX copper is attempting recovery following a more than 2.5% plunge on Friday alone. Lack of satisfactory support from equities and rising copper inventories added pressure on the red metal. The major averages on Wall Street ended Friday off their worst levels of the session but still in negative territory. The Nasdaq plunged 398.69 points or 1.7 percent to 23,195.17 and the S&P 500 tumbled 73.59 points or 1.1 percent to 6,827.41. The narrower Dow posted a more modest loss, falling 245.96 points or 0.5 percent to 48,458.05 after hitting a new record intraday high in early trading. For the week, the major averages turned in a mixed performance. While the Dow jumped by 1.1 percent, the S&P 500 slid by 0.6 percent and the Nasdaq dove by 1.6 percent. The red metal is currently quoting at $5.39 per pound, up 0.60%.

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