🔴 Proshares S&P Global Core Battery Metals ETF is trading 6.3% down today as strong U.S. jobs data delays rate cut expectations

Proshares S&P Global Core Battery Metals ETF is trading 6.3% down today as a much-stronger-than-expected May U.S. jobs report pushes out expectations for Federal Reserve rate cuts and lifts Treasury yields.

• Higher-for-longer interest rates are pressuring risk assets and cyclical commodities, driving broad weakness across battery metals and related mining stocks.
• The fund is underperforming the broader market as higher discount rates and macro uncertainty weigh on future demand expectations for lithium, nickel, and cobalt-linked plays.