COMEX Copper futures are seen clinging on to $5 per pound mark and attempting to recover from a two-week low on Monday morning in Asia. Recovery in US stocks on Friday following a sharp slump earlier in the week supported the red metal. The major averages pulled back well off their best levels going into the end of the day but remained firmly positive. The Dow surged 493.15 points or 1.1 percent to 46,245.41, the Nasdaq advanced 195.03 points or 0.9 percent to 22,273.08 and the S&P 500 jumped 64.23 points or 1.0 percent to 6,602.99. Despite the rebound on the day, the major averages all posted steep losses for the week. The Nasdaq plunged by 2.7 percent, the S&P 500 tumbled by 2.0 percent and the Dow slumped by 1.9 percent. The red metal shed more than 2.50% last week. However, dollar index above 100 mark and uncertainty on US Fed stance is likely to keep weighing on the commodity that is currently quoting at $5.00 per pound, down 0.17%.

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