Freeport-McMoRan, Oil Surging (FCX, USO)

The dollar has weakened in late-morning trading, providing a boost for commodities and commodity-related stocks. Crude oil is currently up $2.12, or 2.77%, to 78.63. Copper is up 5 cents, or 1.8%, to $3.06. Shares of the United States Oil Fund USO, which seeks to track the spot price of West Texas Intermediate light, sweet crude oil, is higher on the day by $1.14, or 3.31%, to $35.53. Freeport-McMoRan Copper & Gold FCX is higher by $1.41, or 2.22%, to $64.85. Shares have staged a strong reversal after trending lower for most of the morning. The dollar is down against the euro after rising in early trading on concerns about fiscal strains in the euro zone and a weaker-than-expected U.S. GDP reading. The dollar is lower by 0.19% against the single currency.