Stock futures are down across major indexes this morning, with the S&P 500 ending a second consecutive negative day.
Here are five key points investors should know as trading begins:
1. Legal Verdict
After less than two hours of deliberation, a jury determined that Elon Musk’s lawsuit against OpenAI’s Sam Altman was filed outside the three-year statute of limitations. The advisory verdict, quickly adopted by the judge, concludes the three-week trial and wraps up the high-profile Silicon Valley saga.
2. Tech Stocks Slide
Yesterday, technology shares pulled down the broader market, with the S&P 500 and Nasdaq Composite posting their second straight day of losses. Meanwhile, the Dow Jones Industrial Average bucked the trend, rising 0.32%.
3. Home Depot’s Strong Quarter
Home Depot exceeded expectations in the first quarter, both in revenue and earnings, and reaffirmed its full-year outlook. The retailer highlighted resilience among homeowners despite rising gas prices, declining consumer confidence, and a sluggish housing market.
4. Fed Chair Appointment
Mark your calendars: President Donald Trump is set to swear in Kevin Warsh as the new chair of the Federal Reserve this Friday.
5. Legal Settlement
Trump withdrew his $10 billion lawsuit against the IRS yesterday. In return, the Department of Justice announced it will establish a $1.8 billion fund to settle claims from individuals alleging they were victims of “lawfare.”
Source (CNBC)
