NEW YORK, Sept 24 - A global stock index rose to a record high and copper prices hit their strongest level in 10 weeks on Tuesday after China unveiled stimulus measures to support its economy.
The S&P 500 moved lower after data showed U.S. consumer confidence unexpectedly fell in September amid mounting worries over the health of the labor market. But the index was last up slightly. Earlier, the blue-chip CSI300 index , and the Shanghai Composite index , surged, while Hong Kong's Hang Seng Index , umped to a four-month high.
U.S. rate futures have priced in a 56.5% chance of another super-sized rate cut of 50 bps at the November meeting, with a 43.5% odds of the more standard 25 easing.Three-month copper on the London Metal Exchange climbed by 2.9% to $9,822 a metric ton by 1515 GMT after hitting its highest since July 15 at $9,825.Risk appetite improved after China's stimulus measures.
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