Market Overview

Freeport-McMoRan Surges Despite Overall Market Rut

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Shares of Freeport-McMoRan Inc (NYSE: FCX) were trading higher by more than 10 percent heading into the final minute of trading on Wednesday.

At the same time, the Dow Jones index was lower by around 1.5 percent, the S&P 500 was lower by 1.25 percent and the Nasdaq index plunged lower by around 2.25 percent.

Freeport-McMoRan reported its fourth quarter results on Tuesday, which included a better-than-expected earnings per share with slightly lower revenues.

Related Link: Freeport-McMoran Volatile After Q4 Report

Shares of Freeport-McMoRan opened for trading at $4.06 and briefly sold off to an intra-day low of $4.02. The stock traded higher until the release of the Federal Reserve's minutes and hit an intra-day high of $5.08 before selling off with the rest of the market.

 

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