Key findings

• US stock markets were little changed at lunchtime as the market awaits Nvidia’s important earnings report tomorrow.

• Nvidia shares rose after Truist raised its price target on the stock.

• Edgar Bronfman Jr. withdrew his offer for Paramount Global, causing the stock to fall.

U.S. stocks were little changed at lunchtime as the market awaited Nvidia’s earnings report, which has become an indicator of the recent stock rally.NVDAThe Dow was below its record high reached yesterday, while the S&P 500 and Nasdaq were essentially unchanged.

Nvidia shares rose after Truist raised its price target, citing improving fundamentals and “sentimental” factors.

Shares of Insulet (PODD) jumped when the Food and Drug Administration (FDA) approved the company’s Omnipod 5 automatic insulin pump for people with type 2 diabetes.

Eli Lilly (LLY) shares traded near an all-time high after the drugmaker announced it would sell its popular weight-loss drug Zepbound in single-dose vials that would cost half the regular price of prefilled vials. That news sent shares of copycat drug provider Hims & Hers Health (HIMS) decreases.

Paramount (PARA) shares plummeted after billionaire Edgar Bronfman Jr. decided to abandon his efforts to take over the entertainment giant.

Shares of Cava Group (CAVA) plunged as its major shareholder and several executives reduced their stakes in the Mediterranean fast-casual restaurant chain, whose shares rose sharply last week on strong earnings.

Oil and gold futures fell. The yield on the 10-year US Treasury note rose. The US dollar lost ground against the euro, pound and yen. The prices of most major cryptocurrencies fell.

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