US stocks were broadly steady on Monday after posting their best week in a year, as investors began counting down to Jerome Powell's speech at Jackson Hole that could reset rate-cut expectations.Stocks are set to consolidate last week's strong gains as a measure of calm returns to a market previously whipsawed by worries about a potential recession.
Investors fleeing the copper market are likely to be sidelined for many months, leaving the field clear for physical players who expect demand in top consumer China and elsewhere to deteriorate over coming months and weigh on prices. A fund buying frenzy, based on an expected shortage of copper relative to demand, sparked a rally on the London Metal Exchange earlier this year, which quickened as momentum traders entered the fray to lift prices to a record high above $11,100 a metric ton in May.
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