CNBC Daily Open: Stocks up ahead of Nvidia earnings

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Another Dow record
Stocks edged higher ahead of Nvidia's earnings report. The Dow Jones Industrial Average eked out a 0.02% increase, marking its second consecutive record close. The S&P 500 and Nasdaq Composite both rose 0.16%. Nvidia shares climbed 1.5% as investors look to the chip giant's earnings release expected Wednesday. Meanwhile, the yield on the 10-year Treasury rose slightly, while U.S. oil prices fell 2.2% on the hope Libya's production halt would be temporary.

'Most important stock'
Nvidia has been volatile of late. The AI chipmaker's market cap has increased ninefold since 2022 and briefly became the world's most valuable public company. But soon after the stock dropped nearly 30% over seven weeks, losing $800 billion in value. The stock has since rebounded to within 7% of its all-time high. With quarterly results due Wednesday, Wall Street is focused on Nvidia's performance, as it could impact the broader market. "It's the most important stock in the world right now," EMJ Capital's Eric Jackson told CNBC. "If they lay an egg, it would be a major problem for the whole market. I think they're going to surprise to the upside." CNBC's Kif Leswing takes a look at what to expect from Nvidia's earnings.

Cut-price weight loss
Eli Lilly introduced a new, lower-priced version of its weight loss drug Zepbound, aimed at patients without insurance coverage, including those on Medicare. The 2.5-milligram and 5-milligram single-dose vials are priced at $399 and $549 per month respectively, about