Why Freeport-McMoRan stock is slipping as copper cools — and what to watch next
Freeport-McMoRan shares fell nearly 2% to $58.78 on Friday, with trading volume at 15.5 million, as copper miners retreated despite copper topping $13,000 a ton this week. Concerns over Chinese demand and anticipation of a U.S. tariff ruling in June weighed on the sector. Investors are watching Freeport’s quarterly update scheduled for Jan. 22. U.S. markets close Monday for Martin Luther King Jr. Day.