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Trump calls off planned Iran attack, citing Middle East leaders' request. (00:14) Jury rules against Musk in legal showdown with Altman, OpenAI. (01:23) Royal Caribbean (RCL) falls amid scrutiny on its Mexico water park project. (02:48)

This is an abridged transcript.

President Trump said Monday that he has postponed a scheduled military attack on Iran following appeals from Middle Eastern leaders who claim peace negotiations are underway.

In a post on Truth Social, Trump stated he had been “asked by the Emir of Qatar, Tamim bin Hamad Al Thani, the Crown Prince of Saudi Arabia, Mohammed bin Salman Al Saud, and the President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, to hold off on our planned Military attack of the Islamic Republic of Iran, which was scheduled for tomorrow.”

The attack was “scheduled” for today.

According to Trump, these leaders believe “a Deal will be made, which will be very acceptable to the United States of America, as well as all Countries in the Middle East, and beyond.” He emphasized that any agreement would include “NO NUCLEAR WEAPONS FOR IRAN.”

Let’s see how the market is reacting.

Stock index futures are lower with tech stocks continuing to face pressure.

Crude oil is down 1.1% at $103. Bitcoin is flat at $76,000. Gold is down 0.6% at $4,538.

The FTSE 100 is up 0.1% and the DAX is up 1.1%.

A jury on Monday rejected claims against OpenAI (OPENAI) and its CEO following less than two hours of deliberations.

The nine-person jury unanimously found that Elon Musk waited too long to file his lawsuit and missed the deadline for the statute of limitations. Although the jury served in an advisory role, Judge Yvonne Gonzalez Rogers accepted the verdict and dismissed Musk’s claims, according to Bloomberg.

Later on Monday, Musk said on X that he would appeal the jury's verdict to the US Court of Appeals for the Ninth Circuit.

Musk had sued OpenAI (OPENAI), Altman, and OpenAI President Greg Brockman, accusing them of breaching their commitment to maintain the AI lab as a nonprofit after he gave them $38M in startup funding. He also named Microsoft (MSFT), a major investor in OpenAI, as a defendant, asserting that it aided and abetted their actions.

OpenAI’s (OPENAI) lawyers argued that Musk filed the suit to undermine OpenAI as it now competes with his AI company, xAI (X.AI), which was recently merged into the space transportation company, SpaceX (SPACE).

Both SpaceX and OpenAI are expected to hold massive IPOs later this year.

Bloomberg noted that xAI has filed separate lawsuits against OpenAI for alleged trade secret theft and anticompetitive practices.

Royal Caribbean Cruises (RCL) traded lower on Monday after Mexican President Claudia Sheinbaum said at a daily media briefing that a review of the cruise line operator's water park project has been ordered.

The cruise line company is planning a large, private cruise-destination water park called Perfect Day México in Mahahual, Quintana Roo, designed as an exclusive call for its ships and modeled on CocoCay in the Bahamas. The capital-intensive project is considered controversial due to environmental, legal, and local community concerns.

Environmental organizations, including Greenpeace and the local non-profit Defending the Right to a Healthy Environment, have challenged the project, warning that it will damage mangrove ecosystems, coastal lagoons, and nearby reefs.

Shares of Royal Caribbean Cruises (RCL) closed nearly 3% lower on Monday.

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Catalyst watch:

• Vertiv (VRT) will hold a two-day investor conference to provide updates on the company's strategic initiatives, latest innovations, financial outlook, and overall market trends.

• Shareholders of Two Harbors Investment (TWO) are scheduled to meet to vote on the highly contested merger agreement with CrossCountry Mortgage.

• Alphabet (GOOG) (GOOGL) will hold its annual Google I/O developer conference in Mountain View, California. The conference will showcase Google's latest AI breakthroughs and product updates across the company, including Gemini, Android, and other technologies, with keynote addresses from Google leaders.

• Expedia Group (EXPE) will webcast the general opening session of Explore 26, which is its annual partner event where the company will share innovations focused on improving the complete travel experience.

The biggest movers for the day premarket: Agilysys (AGYS) +14% - Shares jumped after the company reported stronger-than-expected Q4 results, with adjusted EPS of $0.63 and revenue of $82.9M, both topping Wall Street estimates.

Economic calendar:

• 8:30 am Housing Starts and Permits

• 10:00 am Pending Home Sales Index

And there’s another item you can add to your calendar for this week. It’s the Best Income Ideas Online Summit. It’s happening on Wednesday, May 20. It’ll be hosted by renowned investor George Noble in collaboration with Seeking Alpha. The event features top investing minds including Michael Howell, J Mintzmyer, Luke Gromen, Steven Cress, and more sharing their top income ideas for today’s market. All for just $99.

You can find a link to register in the show notes section: Best Income Ideas Online Summit.