WHCD shooting, DOJ ends Powell probe, Musk vs. Altman and more in Morning Squawk

• The DOJ ended its probe of Fed Chair Jerome Powell on Friday, clearing the path for Kevin Warsh's confirmation as Powell's successor after Sen. Thom Tillis withdrew his opposition
• The Musk-Altman trial begins today in Oakland over a $134 billion lawsuit alleging OpenAI broke its nonprofit promise, coinciding with OpenAI's Q4 IPO plans and SpaceX's upcoming record-setting public offering
• Trump canceled U.S. delegation trip to Pakistan for Iran ceasefire talks, saying Iran's improved offer was 'not enough,' causing Brent crude prices to rise as peace hopes faded

Market Summary: April 2026

Key Events

White House Correspondents' Dinner Shooting: A suspected gunman breached a security checkpoint at Saturday's WHCD, shooting one officer (saved by bulletproof vest) before being taken down by Secret Service. The suspect, a California teacher, was reportedly targeting Trump administration officials and faces arraignment today. The incident has reignited political violence concerns domestically and internationally.

Iran-Pakistan Negotiations Stalled: President Trump canceled a planned U.S. delegation to Pakistan for Iran ceasefire talks, stating Iran's improved offer was "not enough." Reports indicate Iran proposed ending hostilities with Pakistan while postponing nuclear program discussions. Brent crude prices rose Monday as peace hopes faded, pressuring stock futures lower.

DOJ Ends Powell Investigation: The Justice Department reversed course Friday, dropping its probe of Fed Chair Jerome Powell. This clears the path for Kevin Warsh's nomination as Powell's successor, with Sen. Thom Tillis now supporting confirmation. Powell's term expires in less than a month; uncertainty remains whether he'll continue as Fed governor for two more years.

Musk vs. Altman Trial Begins: Jury selection starts today in Elon Musk's $134 billion lawsuit against Sam Altman and OpenAI in Oakland federal court. Musk alleges breach of promise to keep OpenAI nonprofit; OpenAI calls the suit "baseless." The trial comes as OpenAI targets a Q4 IPO and SpaceX prepares a record-setting public offering.

Tesla AI Integration: Tesla is beta testing xAI's Grok chatbot for in-vehicle voice commands, joining other automakers integrating AI into vehicles. Safety experts warn of potential driver distraction risks.

Week Ahead

Major earnings expected from key tech and consumer companies. Federal Reserve announces monetary policy decision Wednesday. Q1 GDP and March PCE data release Thursday.