US equities were little changed on Tuesday as investors weighed President Trump’s move to remove Federal Reserve Governor Lisa Cook and looked ahead to Nvidia’s highly anticipated earnings report. The S&P 500 and Dow Jones hovered near the flatline, while the Nasdaq was slightly higher. Trump’s move intensified concerns about the Fed’s independence, with Cook pledging to contest the dismissal in court, saying the president lacked authority to fire her. Meanwhile, Trump threatened new tariffs and export restrictions on countries that levy digital taxes, heightening the risk of trade tensions with Europe. Nvidia shares climbed about 1% ahead of Wednesday’s results, which are seen as a key test for megacap tech stocks amid elevated AI-driven valuations. Separately, Eli Lilly advanced more than 4% after trial data showed its experimental obesity pill helped patients lose roughly 10% of their body weight.