FedEx (FDX) is trading higher on Wednesday, May 6, 2026, after a steep, headline-driven decline earlier this week. The prior drop was triggered by Amazon’s rollout of Amazon Supply Chain Services, a new end-to-end logistics product aimed at selling Amazon’s warehousing, transportation, and delivery capabilities to outside businesses—an expansion that investors interpreted as a direct competitive threat to legacy carriers.

The rebound looks driven by positioning and valuation reset following the initial shock. After the Amazon announcement forced a rapid repricing of competitive risk across the delivery and logistics complex, dip buyers are stepping back in as the market debates whether the near-term earnings impact is immediate or more of a multi-year share-and-pricing pressure story.

Attention now turns to how FedEx plans to defend yield and volume in e-commerce-heavy lanes and whether the company can keep momentum in its cost and network optimization initiatives. Another key catalyst remains the planned FedEx Freight spin-off, expected to be completed June 1, 2026, which investors view as a potential unlock for a cleaner, more focused FedEx and a separately valued LTL freight business.