Copper, energy futures follow stock market lower

Prices for industrial metals and energy futures follow the stock market lower

Associated Press

Industrial metals and energy prices are ending lower following another down day for the stock market.

More discouraging earnings reports Monday further dimmed the outlook for the U.S. economy, sending stocks and other higher-risk assets like commodities lower.

Copper fell 1.55 cent to settle at $3.622 a pound.

Energy prices fell broadly. Crude oil fell $1.32 to $88.73 a barrel, a decline of 1.5 percent. Heating oil and wholesale gasoline futures fell nearly 2 percent, and the price of natural gas slumped nearly 5 percent.

Agricultural commodities prices were mixed.

Weak corporate earnings reports sent stocks lower. Caterpillar lowered its 2012 earnings forecast, saying the global economy was weaker than it had expected.

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