🔴 SPY is trading 0.15% down today as hot CPI data and geopolitical tensions fuel rate-cut concerns

SPY is trading at $738.18, down 0.15% after hotter-than-expected CPI data and rising geopolitical risks triggered market-wide risk aversion.

• April’s CPI report showed 3.8% YoY growth against a 3.7% forecast, significantly dampening expectations for Federal Reserve rate cuts.
• Geopolitical tensions escalated following the rejection of Iran's peace proposal, driving crude oil prices above $107 per barrel.
• Tech sector weakness and rising energy costs pressured the broad index, overshadowing a modest recovery seen in pre-market futures.