🔴 SPY is trading 0.51% down today on escalating Iran tensions and corporate deal delays

SPY is trading at $707.59 (-0.51%) in pre-market action as escalating geopolitical risks and cautious corporate guidance weigh on investor sentiment.

• Geopolitical tensions spiked following Iran's seizure of container ships in the Strait of Hormuz, driving oil prices above $102 per barrel.
• ServiceNow and IBM issued warnings regarding delayed deals, tempering the momentum from strong tech and semiconductor earnings earlier in the week.
• The pullback follows a record-setting session on April 22, where SPY closed up 1.01% at $711.21 after hitting new intraday highs.