🔴 SPY is trading 0.4% down today amid logistics sector weakness and geopolitical tensions

SPY is trading down 0.37% as of the May 4 close, aligning with a broader market retreat that saw the Dow fall over 1%.

• Logistics stocks faced significant pressure, with FedEx shares dropping approximately 9% following Amazon's announcement of a competing logistics service.
• Geopolitical uncertainty in the Strait of Hormuz added to intraday volatility, though U.S. officials later denied reports of escalating conflict.
• Investors are now looking ahead to key earnings reports from Pfizer and AMD as index futures remain flat in the May 5 pre-market session.