Erika Herskowitz

The Orange County Fire Authority made the announcement this morning after conducting an overnight inspection.

The threat of an explosion being eliminated could be the first step toward lifting evacuation orders for more than 50,000 residents.

As the nation observes Memorial Day, President Trump paid a visit to Arlington National Cemetery.

He delivered remarks and took part in a wreath-laying ceremony as America honors the men and women who have died while serving the country.

Trump will be heading to Walter Reed National Military Medical Center for his fourth publicly disclosed doctor's appointment since the start of his second term.

We get more from Bloomberg's Doug Krisner.

And on the hardwood tonight, the Knicks can clinch their first trip to the NBA Finals since 1999 when they tip off against the Cavs in Cleveland.

They lead the best of seven series, three games to none.

That's news when you want it with Bloomberg News Now.

I'm Erica Herskowitz and this is Bloomberg.

News when you want it with Bloomberg News Now, I'm Erika Herskowitz.

President Trump says negotiations with Iran are proceeding nicely.

In a Truth Social post this morning, the president said it was only a great deal for all, or no deal at all.

He went on to say that if a deal isn't reached, then it will be back to the battlefront and shooting, but bigger and stronger than ever before, and nobody wants that.

Meanwhile, Secretary of State Marco Rubio says a pretty solid proposal is currently on the table as Iran's foreign minister cautions this does not mean that the signing of an agreement is imminent.

Rubio speaking to reporters in New Delhi this morning as he continues his visit to India.

Meanwhile, crude dropped more than 5% to around $91 a barrel.

Amid optimism, a deal will help restore the flow of oil through the vital Middle East artery.

On Wall Street, U.S.

markets are closed for Memorial Day, but stocks traded overseas.