5 things to know before the market opens Tuesday

Key Points:

• Shares of AI-related companies such as Oracle, Nvidia, and SoftBank are falling after reports that OpenAI missed internal revenue and user growth targets, despite stock futures being mixed and the S&P 500 and Nasdaq hitting record highs yesterday.
• The high-profile $134 billion trial between OpenAI CEO Sam Altman and Tesla CEO Elon Musk began jury selection, with Musk suing OpenAI and its executives over alleged broken promises to remain a nonprofit; the trial will have two phases with the judge making final decisions.
• President Trump discussed Iran's proposal to reopen the Strait of Hormuz contingent on ending the U.S. blockade and the war, but the White House clarified this did not mean the offer was under serious consideration; meanwhile, Brent oil futures surged above $111 per barrel.
• General Motors raised its 2026 guidance after a Supreme Court decision overturned Trump's tariffs, expecting a $500 million tariff refund, which helped the company's shares rise about 5% in premarket trading despite slightly missing revenue expectations for Q1.
• Spotify and Peloton announced a partnership to offer over 1,400 Peloton fitness classes to Spotify premium subscribers, expanding Spotify’s content offerings beyond music and podcasts; however, Spotify shares fell over 10% following weaker-than-expected operating income guidance.