5 things to know before markets open on Monday

good morning. We have a big week ahead of us. In addition to earnings reports from the major automakers and the “Magnificent Seven,” the Federal Reserve will decide its next monetary policy decision and the trial of Elon Musk and Sam Altman begins.

The S&P 500 futures index was little changed this morning after rising to record highs last week.

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

The White House Correspondents’ Dinner was thrown into chaos on Saturday after an armed man allegedly stormed a security checkpoint, forcing President Donald Trump and other administration officials to evacuate. President Trump later said that one police officer was shot, but that his bulletproof vest “saved the day.”

Here’s what you need to know:

At a White House press conference after the incident, President Trump said that U.S. Secret Service agents had “subdued” the suspected gunman, identified as Cole Allen. Acting Attorney General Todd Blanche told CNN that the suspect, a teacher from California, was likely targeting members of the Trump administration. Mr. Allen is scheduled to be arraigned today. President Trump renewed his call for the construction of the White House ballroom in the wake of the incident, saying the incident would not have happened if the event had been held in an event space on the White House grounds. Domestic and international leaders condemned the attempted attack, which was widely seen as the latest incident of political violence. In America.

Earlier Saturday, President Trump said he had withdrawn plans to send a U.S. representative to Pakistan to negotiate a ceasefire with Iran. The president said on social media that if Iran wants to talk to the United States, “all it has to do is call.”

After canceling the U.S. delegation’s visit, President Trump said Iranian leaders had improved their offer to end the war, but it was “not enough.” Axios reported that Iran has proposed a deal that would reopen the Strait of Hormuz and postpone talks on the country’s nuclear program.

Brent crude oil prices rose above $106 per barrel this morning, putting downward pressure on stock futures as hopes for a resumption of peace talks between the US and Iran faded. Follow live market updates here.

The Justice Department on Friday closed its high-profile criminal investigation into Federal Reserve Chairman Jerome Powell, in a major reversal after U.S. Attorney Jeanine Pirro said days earlier that she would pursue the investigation.

The move clears the way for Kevin Warsh, President Trump’s pick to succeed Powell. Sen. Thom Tillis, who had vowed to block Warsh’s nomination as long as the investigation into Powell continues, said yesterday that he would now support Warsh’s confirmation.

With the criminal investigation closed and less than a month left in his term as chairman, Mr. Powell faces a choice. Will he remain on the Fed board for another two years, or will he follow historical precedent and step down from the central bank when his term as chairman expires?

Jury selection begins today in the trial between Elon Musk and Sam Altman in federal court in Oakland, California. As CNBC’s Ashley Caputo reports, the legal battle is expected to be a showdown between two of the biggest companies in the technology industry.

In his $134 billion lawsuit, Musk alleged that OpenAI, Altman, and OpenAI President Greg Brockman reneged on their promise to keep the artificial intelligence startup nonprofit. OpenAI has repeatedly called the lawsuit “baseless.”

The trial begins as both Musk and Altman prepare for major business milestones. OpenAI is aiming for a market debut as early as the fourth quarter, while Musk is preparing to list SpaceX in what is expected to be a record IPO.

Musk’s tesla is beta testing an in-vehicle version of xAI’s Grok chatbot. First introduced last year, it allows drivers to give voice commands to their car’s navigation system.

Tesla is one of several automakers trying to integrate AI into its cars, with the goal of giving drivers a hands-free way to access information. But some car safety experts warn that such features could introduce new distractions for drivers on the road.

CNBC’s Rob Ferris tested the technology at a Tesla in New York City. This is what he saw.

Here’s what we’re monitoring this week:

Tuesday: UPS, general motors, jet blue, spotify and coca cola Income (before the bell). starbucks and robin hood Income (after the bell). Consumer confidence data for Wednesday April: humana, biogen and AbbVie Income (before the bell). meta platform, Amazon, microsoft, alphabet, Qualcomm, ford, chipotle pepper and mattel Income (after the bell). Thursday’s Federal Reserve decision: Signa, Merck, Eli Lilly, bristol myers squib and wayfair Income (before the bell). apple, reddit, amgen and Rivian Income (after the bell). First quarter GDP data. Personal consumption expenditure price index for Saturday in March: Berkshire Hathaway income

—CNBC’s Kevin Breuninger, Terri Culen, Adam Jeffrey, Garrett Downs, Ryan Ermey, Azhar Sukri, Sarah Whitten, Dan Mangan, Matt Peterson, Jeff Cox, Ashley Capoot, Rob Ferris and Lora Kolodny contributed to this report.

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