Material World

(1) The metal with the PhD in Economics has been a doomsayer for the past year, depressed by trade issues. (2) Copper price has lost 19% y/y, and the S&P 500 Copper stock price index more than twice that. (3) Only this past week has some luster returned. (4) But all that glitters isn’t copper; other S&P 500 Materials-sector industries have been sparkling ytd. (5) Prospects for Construction Materials—also an economic barometer—look particularly bright. (6) New, new thing in retail—stores without addresses or inventory—are giving traditional retailers, Amazon included, a run for their money.