Copper, Oil, Earnings & Australia

We often call copper “the metal with the PhD in Economics,” because its price rises and falls in step with the strength/weakness of the global economy. So why is Dr. Copper suddenly acting like the global economy is robust when it’s not? And why are soaring metals prices diverging with the also-economically-sensitive oil price? Dr. Ed has some answers. … Also: Joe reports that analysts’ Q1 estimate revisions are following the typical pattern, which suggests an earnings hook, or upside surprise, for S&P 500 companies on the whole. … And: Melissa takes us Down Under for a look at the Australian economy’s unique challenges.