5 things to know before the market opens on Tuesday

Happy Tuesday. Stock prices of major companies in the artificial intelligence industry – etc. oracle, Nvidia and Softbank Group — All fell this morning following reports that OpenAI missed internal targets for revenue and user growth.

Stock futures were mixed in pre-market trading. of S&P500 and Nasdaq Composite Both hit record highs yesterday.

Here are five important things investors need to know to start their trading day.

Yesterday, with OpenAI CEO Sam Altman, tesla CEO Elon Musk. Initial arguments in the $134 billion lawsuit are scheduled to begin this morning in California federal court.

Here’s what you need to know before your trial begins:

Musk is suing OpenAI, Altman and AI Institute President Greg Brockman for reneging on their promise to keep the company nonprofit. Judge Yvonne Gonzalez Rogers divided the trial into two parts. There is a responsibility stage, which determines whether misconduct occurred, followed by a redress stage, which focuses on the next steps. The jury will only consider the first stage of the case, and Mr. Gonzalez will only give his opinion in an advisory capacity. Mr. Rogers will ultimately have the final say on both parts of the trial. On Monday, lawyers for both sides evaluated prospective jurors’ views of Musk, Altman and artificial intelligence, with some acknowledging that they had negative perceptions because of Musk’s political views. “The reality is people don’t like him,” Gonzalez-Rogers said. Altman and Greg Brockman, whose ouster is being pushed by Musk as part of the lawsuit, were in court yesterday. CNBC will broadcast the trial live from the courtroom and broadcast it on television and online. Please see here.

President Donald Trump discussed Iran’s proposal to reopen the Strait of Hormuz with his national security team on Monday, White House press secretary Caroline Levitt said yesterday. Under this framework, if the United States lifts the blockade of the Strait and ends the war, Iran will be freed from a vital sea route, but negotiations over Iran’s nuclear ambitions will reportedly be postponed.

As CNBC’s Kevin Breuninger reported, Levitt said the discussion of the proposal does not mean President Trump is “considering” it, and that Trump is likely to speak directly about the matter “soon.” President Trump has vowed to keep the strait closed until the deal with Iran is “100% complete.”

Brent crude oil futures soared above $111 per barrel this morning. Still, investors have largely overlooked the recent tensions, with the S&P 500 and Nasdaq Composite both hitting record highs yesterday. Follow live market updates here.

President Trump’s tariffs hit automakers especially hard. Now, a Supreme Court ruling overturning the president’s draconian mandate is giving at least one automaker a boost.

General Motors this morning raised its outlook for 2026, citing an expected $500 million in tariff refunds. The company also beat expectations for first-quarter profits, but sales for the period were slightly lower than expected.

Investors liked the announcement. General Motors stock is up about 5% in premarket trading.

Perpetual futures are one of the largest and riskiest areas of cryptocurrency trading. As CNBC’s Tanaya Machel reports, prediction market platforms want some of that.

It was reported last week that Kalsi and Polimarket are planning to augment so-called criminals, who until recently have been largely restricted in the United States. According to CoinGecko, Purp currently accounts for over 70% of the total trading volume of centralized crypto exchanges.

Perps can offer up to 100x leverage on your investment. The addition of this type of leveraged trading could redefine how Americans trade the real-world event contracts that made prediction markets so popular.

spotify and peloton We are forming a team. The streaming platform will launch a fitness category offering more than 1,400 Peloton classes for premium subscribers, the companies announced yesterday.

The deal builds on Spotify’s efforts to monetize content beyond music and podcasts while helping Peloton transition away from its hardware-centric business model. The companies did not disclose financial terms of the partnership.

Spotify stock fell more than 10% this morning after announcing its first-quarter earnings. Although the company’s revenue for the period was in line with expectations, the stock price plunged after the company’s operating profit forecast for the current quarter was lower than expected.

Bridgewater Associates founder Ray Dalio told CNBC yesterday that the U.S. economy is in a “stagflation” environment. As a result, the billionaire investor advised the Federal Reserve not to cut interest rates.

—CNBC’s Ashley Capoot, Lora Kolodny, Spencer Kimball, Sam Meredith, Sean Conlon, Kevin Breuninger, Tanaya Macheel, Brandon Gomez, Michael Wayland and Yun Li contributed to this report.

Davis Giangiulio helped produce this newsletter. Josephine Rozzelle edited this version.

Disclosure: CNBC and Kalsi have a commercial relationship that includes a minority investment in CNBC.