Freeport-McMoRan Stock Soars as Copper and Gold Prices Rise

Group 1 - Freeport-McMoRan shares surged approximately 8% due to rising copper and gold prices, driven by China's economic stimulus package [1][2] - Copper futures increased around 4%, reaching their highest level since mid-July, following China's announcement of measures to boost its housing and financial markets [1][3] - Gold prices have reached record highs, influenced by the Federal Reserve's interest-rate cuts and global monetary easing, with analysts predicting potential prices of $3,000 per ounce by mid-2025 [2][4] Group 2 - The recent uptick in copper prices is attributed to the weakening of the dollar, making copper cheaper for international buyers, which could enhance global demand [3] - China's stimulus package is expected to significantly impact copper demand, particularly in the property and construction sectors, where copper is extensively used [3] - The ongoing uncertainty surrounding the U.S. presidential election may further drive investment in gold as a safe haven asset [4]