COMEX COPPER

NEW YORK (Dow Jones)--High-grade copper futures in New York are called to open 540 points higher Thursday, traders said, following a higher London copper market.
In London overnight, three-month copper traded to a high of $5,847 a metric ton. It is currently up $105 at $5,830.00.
In other markets, the dollar is trading lower while the euro is a touch higher. The Nybot U.S. dollar index is trading at 84.16 from a previous close of 84.20. The euro is at $1.3135 from a Wednesday close of $1.3129.
On the economic front, data on import prices, NY Fed Manufacturing Index and jobless claims will be released at 8:30 a.m. EST (1330 GMT). Treasury capital flows will be out at 9 a.m. EST (1400 GMT)followed by capacity utilization and industrial production at 9:15 a.m. EST (1415 GMT).
At 10 a.m. EST (1500 GMT) will be the release of the DJ-BTMU business barometer and Fed Chairman Ben Bernanke's testimony before the House Financial Services Committee on the U.S. economic outlook.
The U.S. Energy Department will release data on natural gas stocks at 10:30 a.m. EST (1530 GMT) then the Philadelphia Fed Business Index will be out at 12 p.m. EST (1700 GMT). The NAHB Housing Index will be released at 1 p.m. EST (1800 GMT).
In New York on Wednesday, Comex copper futures settled lower after the metal hit a two-week high then eased amid a lack of direction and upside momentum.
At settlement, most-active March copper is down 75 points at $2.5770 per pound. At the open, the contract dipped amid an increase in London Metal Exchange copper stocks but later hit its highest level since Jan. 29 at $2.62.
Inventories of copper in London Metal Exchange warehouses rose 450 metric tons to 215,350, authorities reported early Thursday. The most recent Comex stocks data, released late Wednesday afternoon, were down 22 short tons at 35,881.