November 16, 2024
U.S. equities were little changed at midday as the market looked ahead to the earnings report from what has become a bellwether of the recent stock rally, Nvidia ( NVDA ). The Dow was down from its record high set yesterday, while the S&P 500 and Nasdaq were essentially flat.
Nvidia shares gained after Truist boosted its price target, citing improving fundamentals and “sentimental” factors.
Shares of Insulet ( PODD ) jumped when the Food and Drug Administration (FDA) approved the firm’s Omnipod 5 automated insulin pump for people with type 2 diabetes.
Eli Lilly ( LLY ) shares traded near an all-time high after the drug maker announced it would be selling its popular weight-loss treatment Zepbound in single-dose vials that would be half the regular price of pre-filled ones. That news sent shares of copycat drug provider Hims & Hers Health ( HIMS ) sinking.
Paramount Global ( PARA ) shares slumped after billionaire Edgar Bronfman Jr. decided to end his effort to buy the entertainment giant.
Shares of Cava Group ( CAVA ) tumbled when its major shareholder and several executives slashed their stakes of the Mediterranean fast-casual restaurant chain, whose shares soared last week on strong earnings.
Oil and gold futures declined. The yield on the 10-year Treasury note was up. The U.S. dollar lost ground to the euro, pound, and yen. Prices for most major cryptocurrencies dropped.
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