* Futures down: Dow 0.38%, S&P 500 0.09%, Nasdaq 0.02%

* FedEx ( FDX ), UPS dip after Amazon ( AMZN ) opens up its logistics

network

* Ebay ( EBAY ) rises 9.5% after GameStop's ( GME ) buyout bid

(Updates prices)

By Niket Nishant and Utkarsh Hathi

May 4 (Reuters) - Wall Street futures whipsawed on

Monday after conflicting reports about a U.S. warship near the

Strait of Hormuz heightened investor anxiety over the Middle

East conflict.

Futures turned lower after a report from Iran's Fars news

agency said two missiles had hit a U.S. warship intending to

pass through the Strait of Hormuz. They later trimmed losses

after an Axios reporter posted on X that a senior U.S. official

had denied the attack.

The fluctuation highlighted the degree to which investors

have become sensitive to headlines tied to the conflict,

particularly as they weigh geopolitical risks against a strong

earnings backdrop.

While strong quarterly reports from corporate America have

given markets plenty to cheer in recent weeks, the U.S.-Iran war

remains a major overhang.

The conflict, now in its third month, has continued to weigh

on the global economy as oil prices stay elevated and the risk

of renewed hostilities persists.

At 6:49 a.m. ET, Dow E-minis fell 189 points,

or 0.38%, S&P 500 E-minis were down 6.5 points,

or 0.09%, and Nasdaq 100 E-minis lost 5.25 points,

or 0.02%.

Oil prices rose 3.7% and were above $110 a barrel.

"Markets can look through the fog of war if the fog is

likely to lift within a reasonable amount of time," said

Brian Jacobsen, chief economic strategist at

Annex Wealth Management.

"The key is recognizing that what is happening is for now,

not forever. That's easy to forget when you're living through

the 'for now' part."

Meanwhile, Berkshire Hathaway ( BRK/A ) reported on Saturday

that it was a net seller of stocks for the 14th straight

quarter.

The conglomerate, often viewed as a bellwether of the U.S.

economy, is closely watched for its insight into valuations and

broader market conditions.

Separately, shares of GameStop ( GME ) dipped 4% and eBay ( EBAY )

rose 9.5% in premarket trading after the video game

retailer unveiled a proposal to buy eBay ( EBAY ) for about $56

billion in a cash-and-stock deal.

Shares of logistics firms FedEx ( FDX ) and United Parcel

Service ( UPS ) fell more than 2% each after Amazon.com ( AMZN )

said on Monday it was rolling out "Amazon Supply Chain

Services", opening up its logistics network for other businesses

to use.