COPX is trading 5.2% up today as copper miners rally on increased Federal Reserve rate cut expectations following a cooling JOLTS labor market report.
- Yesterday's JOLTS data showed job openings fell to 6.9 million, signaling a softening labor market and driving the S&P 500 and Nasdaq to record highs.
- Copper miners are benefiting from a broader risk-on sentiment and a stabilizing economic outlook, with copper futures tracking higher by 0.3% to 0.7%.