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Expand chart
Data: FactSet; Chart: Axios Visuals

Copper prices rose to the highest since March 2013 on Thursday, spurred by substantial increases in orders from China and expectations it will be a major component in new green energy projects.

Why it matters: Dr. Copper, as the metal is affectionately known, is a bellwether for the economy because it is used for wiring, piping and in most construction projects and household appliances.

  • Prices have risen by nearly 25% this year.

What they're saying: “This current price strength is not an irrational aberration, rather we view it as the first leg of a structural bull market in copper,” Goldman Sachs analysts said in a research note Monday.

  • Goldman raised its 12-month forecast for copper to $9,500 per metric ton, up from a previous estimate of $7,500.

Go deeper

Dion Rabouin, author of Markets
Jan 14, 2021 - Economy & Business

Inflation rose more than expected in December

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The Consumer Price Index rose 0.4% in December, the biggest increase since August, largely because of rising gasoline prices, the U.S. Bureau of Labor Statistics reported.

Details: The increase "was driven by an 8.4% increase in the gasoline index, which accounted for more than 60% of the overall increase," BLS said.

Pope Francis denounces European governments' migrant response

Pope Francis adresses refugees at the Reception and Identification Centre (RIC) in Mytilene on the island of Lesbos on Sunday. Photo: Louisa Gouliamaki/Pool/AFP via Getty Images

Pope Francis criticized European countries' response to migrants and asylum seekers during his visit to a refugee camp on the Greek island of Lesbos Sunday.

Why it matters: The pope said "migration is a humanitarian crisis that concerns everyone," but little had changed in the global response to displaced peoples since his first visit to Lesbos five years ago, per a transcript of his remarks. "Human lives, real people, are at stake. ... let us stop this shipwreck of civilization!"

Chris Cuomo accuser: On-air "hypocrisy" spurred report

Journalist Chris Cuomo. Photo: Gilbert Carrasquillo/GC Images

A woman who accused fired CNN journalist Chris Cuomo of sexual misconduct said Sunday she decided to come forward after learning of his comments about women who made similar accusations about his brother. He denies her allegations.

Why it matters: Her attorney Debra Katz said in a statement that she heard "the hypocrisy" of his on-air words about his brother, former New York Gov. Andrew Cuomo, and was "disgusted by his efforts to try to discredit these women," so "retained counsel to report his serious sexual misconduct against her to CNN."