OFF THE WIRE

NEW YORK, Oct 2 (Reuters) - The dollar was on track for a fourth straight weekly gain against ​the euro on Friday, supported by elevated US Treasury yields amid a selloff in European government bond markets and expectations the ‌Federal Reserve will maintain its hawkish interest rate stance.

NEW YORK, Oct 2 (Reuters) - Investors head into a part of the calendar that tends to be upbeat for US stocks, but that seasonal strength is ​under threat from a number of challenges, including a surge in bond yields and the market's apparent dependence on massive AI spending.

Freeport-McMoRan (NYSE: FCX) said on Friday progress at its Grasberg Block Cave underground mine in Indonesia is on track for a phased ramp-up, as the miner undertakes recovery efforts following a deadly mudslide that disrupted operations last year.The company, whose shares rose 3.2% in morning trading, expects to reach 80% of capacity in mid-2027 and approach full capacity by year-end 2027.Grasberg, the world’s second-largest copper mine and largest gold mine, was hit by a massive mud flow last year that killed seven workers and shuttered operations for nearly a month.

China’s antitrust regulator has asked Anglo American (LON: AAL) to commit to supply the country with a steady flow of copper concentrate as a condition for approving its proposed $54 billion merger with Canada’s Teck Resources (TSX: TECK.B), three people aware of the development said.The demand reflects China’s struggle to feed its vast copper smelting industry, which refines up to 60% of the world’s copper cathodes but faces its worst feedstock shortage in decades.

Physical gold demand in most key Asian hubs improved modestly this week as lower prices lured some buyers back to the market, though others awaited a steeper decline.In India, domestic gold prices fell to 145,538 rupees per 10 grams this week, their lowest in nearly two months.Demand was better than last week as prices corrected, making buyers more interested and narrowing the discounts offered by sellers, said Harshad Ajmera of wholesaler JJ Gold House in Kolkata in eastern India.