--- title: "Musk loses in court, Home Depot earnings, DOJ's 'lawfare' fund and more in Morning Squawk" type: "News" locale: "en" url: "https://longbridge.com/en/news/286909981.md" description: "Elon Musk's lawsuit against OpenAI's Sam Altman was dismissed due to a statute of limitations, with Musk planning to appeal. Home Depot reported strong earnings, reaffirming its guidance despite economic concerns. The Federal Reserve will see Kevin Warsh sworn in as chair, with expectations of interest rate changes. Additionally, Trump dropped a lawsuit against the IRS. Stock futures are lower as tech stocks struggle." datetime: "2026-05-19T12:01:14.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286909981.md) - [en](https://longbridge.com/en/news/286909981.md) - [zh-HK](https://longbridge.com/zh-HK/news/286909981.md) --- # Musk loses in court, Home Depot earnings, DOJ's 'lawfare' fund and more in Morning Squawk _This is CNBC's Morning Squawk newsletter._ _Subscribe here_ _to receive future editions in your inbox._ Happy Tuesday. I served as a judge for CNBC's 2026 Disruptor 50 list, which was unveiled this morning. The big news: OpenAI is no longer No. 1. Stock futures are lower across the major averages this morning. The S&P 500 is coming off a second straight negative day. Here are five key things investors need to know to start the trading day: ## 1\. The verdict is in A combination photo shows CEO of OpenAI Sam Altman (L) on April 28, 2026 and Elon Musk on April 29, 2026 during the trial in Elon Musk's lawsuit over OpenAI for-profit conversion at a federal courthouse in Oakland, California, U.S. Manuel Orbegozo | Reuters After less than two hours of deliberations, a jury decided that Tesla CEO Elon Musk's lawsuit against OpenAI's Sam Altman fell outside the three-year statute of limitations. The advisory verdict, which was immediately adopted by the judge, ends the three-week trial and the years-long saga that's gripped Silicon Valley. Here's what to know: - Musk said in a social media post that he would appeal the decision, writing that the ruling was based on a "calendar technicality." - After Steven Molo, Musk's lawyer, reserved the billionaire's right to appeal, U.S. District Judge Yvonne Gonzalez Rogers said she was prepared to dismiss it "on the spot." - Counsel for OpenAI and Microsoft — which was also named a defendant in Musk's suit — celebrated as they exited the Oakland, California courtroom. - Musk and Altman's relationship wasn't always fraught. CNBC's Ashley Capoot and Lora Kolodny explain how the pair went from close friends to bitter rivals. - The tech world will now turn its attention to another court battle: Oral arguments in Anthropic's lawsuit against the Justice Department over its blacklisting begin today. ## 2\. Memory lapse An exterior view of a Seagate office on October 26, 2022 in Fremont, California. Justin Sullivan | Getty Images Technology stocks dragged on the broader market yesterday, with the S&P 500 and Nasdaq Composite both logging a second straight day of losses. The blue-chip Dow Jones Industrial Average bucked the downtrend, closing 0.32% higher. Memory chip maker Seagate ignited a sell-off in memory stocks after its CEO Dave Mosley warned that the company could have difficulty meeting soaring demand, saying that it would "take too long" to build new factories. Shares of Seagate tumbled nearly 7%, while Micron and SanDisk each fell more than 5%. Follow live market updates here. ## 3\. Durable material A Home Depot logo is displayed at one of their stores in San Diego, Nov. 8, 2025. Kevin Carter | Getty Images News | Getty Images Home Depot beat first-quarter expectations on the top and bottom lines this morning. The retailer also reaffirmed its guidance for the full year, pointing to strength in its core homeowner shopper despite rising gas prices, falling consumer confidence and a broken housing market. "The homeowner in a relevant sense is perhaps more protected financially than other customer cohorts and so we continue to see engagement," CFO Richard McPhail told CNBC in an interview. The report kicks off a big week for retailer earnings: Competitor Lowe's, along with Target and Walmart, are all slated to report quarterly results in the coming days. Wall Street has been wary of the sector as surging gas prices fuel concern about the health of the consumer. ## Get Morning Squawk directly in your inbox CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning. Subscribe here to get access today. ## 4\. Fed head Kevin Warsh, nominee for chairman of the Federal Reserve, arrives for his Senate Banking, Housing and Urban Affairs Committee confirmation hearing in the Dirksen building, April 21, 2026. Tom Williams | Cq-roll Call, Inc. | Getty Images Mark your calendars: President Donald Trump will swear in Kevin Warsh as the chair of the Federal Reserve on Friday, a White House official told CNBC. Warsh will become the 11th chair of the central bank in its modern era, as well as the wealthiest person to ever lead the Fed. Under the new regulations for Fed officials, he will have to divest many of the investments in his portfolio. Trump has made it clear that he expects a Warsh-led Fed to lower interest rates. But Yardeni Research's Ed Yardeni said Warsh may have to do the opposite and raise rates at the central bank's July meeting to placate "Bond Vigilantes." ## 5\. All's fare A large image of U.S. President Donald Trump hangs from the the Robert F. Kennedy Department of Justice Building on May 18, 2026 in Washington, DC. Andrew Harnik | Getty Images Trump dropped his $10 billion lawsuit against the Internal Revenue Service yesterday. In exchange, the Department of Justice said it will create a $1.8 billion fund to settle claims by people who say they are victims of "lawfare." The "Anti-Weaponization Fund" will receive money from the Justice Department's judgment fund, which allows the organization to settle and pay out cases. The department said it would stop processing claims for the AWF no later than December 2028. A spokesman for Trump's legal team said in a statement that the president settled the suit — which he brought against the IRS in January over the leak of his tax information by an agency employee — "squarely for the benefit of the American people." Democrats blasted the agreement, with Sen. Elizabeth Warren of Massachusetts calling it "corruption on steroids." ## The Daily Dividend The rise of AI is putting the college-to-career pipeline in crisis. But as CNBC's Gabrielle Fonrouge reports, companies are recruiting in droves for skilled-trade jobs, creating a new path to the American Dream. — _CNBC's Lora Kolodny, Jeffrey Kopp, Ashley Capoot, Sean Conlon, Tobias Burns, Jeff Cox, Dan Mangan and Gabrielle Fonrouge contributed to this report._ _CJ Haddad assisted in the production of this newsletter. Josephine Rozzelle edited this edition._ Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. ### Related Stocks - [HD.US](https://longbridge.com/en/quote/HD.US.md) - [XHB.US](https://longbridge.com/en/quote/XHB.US.md) - [NAIL.US](https://longbridge.com/en/quote/NAIL.US.md) - [ITB.US](https://longbridge.com/en/quote/ITB.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [OpenAI.NA](https://longbridge.com/en/quote/OpenAI.NA.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [STX.US](https://longbridge.com/en/quote/STX.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md) - [LOW.US](https://longbridge.com/en/quote/LOW.US.md) - [TGT.US](https://longbridge.com/en/quote/TGT.US.md) - [WMT.US](https://longbridge.com/en/quote/WMT.US.md) - [SNDKV.US](https://longbridge.com/en/quote/SNDKV.US.md) ## Related News & Research - [$100 Invested In Home Depot 20 Years Ago Would Be Worth This Much Today](https://longbridge.com/en/news/286468674.md) - [Home Depot (NYSE:HD) Issues Earnings Results, Beats Estimates By $0.01 EPS](https://longbridge.com/en/news/286905737.md) - [Home Depot (NYSE:HD) Updates FY 2026 Earnings Guidance](https://longbridge.com/en/news/286901420.md) - [Home Depot says its customers are healthy, but here's where they are holding back](https://longbridge.com/en/news/286948933.md) - [Home Depot Q1 Preview: Wall Street Is Slashing Targets For A Stock Already At 3-Year Lows](https://longbridge.com/en/news/286807226.md)