COPX is trading at $89.06 (down 3.1%) as the copper miners ETF diverges from a broader market rally fueled by Cisco's AI-driven earnings and optimism surrounding a Trump-China summit.
- The S&P 500 advanced 0.47%, highlighting a significant divergence as investors rotate out of materials and into technology sectors.
- Downward pressure stems from hawkish Fed expectations under Kevin Warsh, persistent inflation (PPI +1.4%), and elevated oil prices weighing on the commodities sector.