5 things to know before the stock market opens on Monday

Happy Monday. I spent the weekend participating in an overnight trail race in Vermont. Even if you stayed home, you probably still felt the pinch of inflation.

Stock futures are falling this morning. of S&P500 Coming off a winning week.

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

Stock futures are falling this morning after the US and Iran carried out airstrikes over the weekend. US Central Command announced last night that US forces had struck dozens of targets “to reduce Iran’s ability to continue attacking international shipping in the Strait of Hormuz.”

Here’s what you need to know:

As CNBC’s Spencer Kimball writes, the disagreement over control of critical sea lanes is partly a result of the lack of clear shipping routes in the U.S.-Iran deal signed last month. Iran’s Islamic Revolutionary Guard Corps said Saturday it had closed the strait “until further notice,” a claim the U.S. military denied. In an interview with NBC News that aired yesterday, President Donald Trump said the straits are open. Oil prices have soared this week as the battle for control of the Strait of Hormuz resumes. S&P500 and Nasdaq Composite Both are coming off their fourth winning week in the past five weeks. Dow Jones Industrial Average The longest positive weekly streak since 2024 ended. Follow live market updates here.

Sen. Lindsey Graham (RS.C.) died Saturday after a “short, sudden illness,” according to his office. The longtime Republican lawmaker and staunch ally of Mr. Trump was 71 years old.

A statement from his office said a preliminary report found that his death was caused by aortic dissection due to atherosclerotic cardiovascular disease. Graham’s death was unexpected. He had just returned from a trip to Ukraine.

As CNBC’s Garrett Downs writes, Graham’s death, who was known for tackling policy issues from across the aisle, could pose a challenge to some Republican priorities in Congress. Representative Nancy Mace and South Carolina Governor Henry McMaster have been mentioned as candidates to fill Graham’s seat.

apple sued OpenAI on Friday, accusing the artificial intelligence startup of stealing trade secrets as part of its efforts to develop its own hardware products. The iPhone maker said in a legal filing that OpenAI is “stealing” information “at every level.”

As CNBC’s Kiff Lesswing and Mackenzie Cigalos point out, the lawsuit is a shocking development considering the two companies entered into a partnership in 2024. However, since OpenAI announced plans to enter the hardware industry last year, relations between the two companies appear to have been less friendly.

Following the lawsuit, tesla CEO Elon Musk has revived his public feud with OpenAI CEO Sam Altman, calling him a “fraud Altman” in an X post. Altman responded by crediting the release of his company’s latest AI model as the reason Musk “got me hooked again.”

last year, Amazon The company implemented the largest wave of layoffs in its history. As CNBC’s Annie Palmer reports, it hasn’t been easy for some affected workers to stand up.

The employees who left Amazon entered an increasingly tight technology labor market. Industry layoffs in May reached the highest level since 2024, according to Challenger Gray & Christmas. The consulting firm said in a report last week that for the fourth month in a row, AI was the main reason companies announced cuts.

“I always thought, ‘It’s such an honor to have Amazon on my resume,'” said Dorian Smith, who was fired from Amazon in January. “But when this round of layoffs happened, it was like, ‘Okay, big deal, 30,000 other people are going to be like that too.’

A bipartisan housing bill focused on increasing supply and affordability passed into law on Saturday, despite failing to get President Trump’s signature.

The president announced Friday that he would not sign the SAVE America Act, citing the Senate’s failure to pass the bill. However, President Trump did not veto the housing bill either, resulting in it becoming law automatically on Saturday morning.

The 21st Century ROAD to Housing Act aims to encourage housing construction, open lending, and limit purchases by large investors. But experts told CNBC that homebuyers shouldn’t expect prices to drop anytime soon. Here’s what you need to know about this law:

Here’s what to watch this week:

— CNBC’s Fred Imbert, Sean Conlon, Azhar Shukri, Garrett Downs, Justin Papp, Emily Wilkins, Kif Leswing, Mackenzie Sigalos, Jordan Nove, Annie Palmer, Sara Agostino and Mike Winters contributed to this report.

Luke Fountain helped produce this newsletter. Josephine Rozzelle edited this version.