12:24 PM EDT, 05/22/2024 (MT Newswires) -- The major US indexes were mixed on Wednesday morning, as investors eagerly awaited Nvidia's ( NVDA ) earnings report as well as the minutes from the most recent Federal Open Market Committee meeting.

In policy news, the US Trade Representative proposed that tariff hikes on certain Chinese products, including electric vehicles and their batteries, take effect on August 1, according to a Federal Register filing it submitted Wednesday.

The Consumer Financial Protection Bureau issued a rule Wednesday stating that Buy Now, Pay Later lenders are credit card providers and therefore must provide key legal protections and rights to consumers that apply to conventional credit cards.

In company news, PDD Holdings ( PDD ) reported Q1 non-GAAP earnings Wednesday of 20.72 Chinese renminbi ($2.83) per diluted American depositary share, up from 6.92 renminbi in the year-ago quarter and above the Capital IQ consensus analyst estimate of 10.38 renminbi. First-quarter revenue was 86.81 billion renminbi, up from 37.64 billion renminbi in Q1 2023 and above the consensus analyst estimate of 76.56 billion renminbi. PDD shares were up 1.6% around noon.

Target ( TGT ) reported Q1 adjusted earnings Wednesday of $2.03 per share, down from $2.05 per share a year ago and below the Capital IQ consensus analyst estimate of $2.06. First-quarter revenue was $24.53 billion, down from $25.32 billion in the year-ago period and even with the consensus analyst estimate. Target ( TGT ) said it expects Q2 adjusted earnings to be in a range of $1.95 to $2.35 per share, compared to the $2.19 per share expected by analysts surveyed by Capital IQ. For full-year 2024, the company continued to expect adjusted EPS of $8.60 to $9.60. Shares of Target ( TGT ) were down 7.6%.

Anglo American rejected a third acquisition bid from BHP Group ( BHP ) on Wednesday. The proposal offered Anglo American shareholders 0.8860 BHP shares for each Anglo American share owned. They would also receive ordinary shares in each of Anglo American Platinum Limited and Kumba Iron Ore Limited. Additionally, Anglo American extended the "put-up-or-shut-up" deadline to May 29. Shares of BHP were down 3.8%.

Biogen (BIIB) has entered into a definitive agreement to acquire Human Immunology Biosciences for up to $1.8 billion, the companies announced Wednesday. Biogen will pay $1.15 billion upfront and up to $650 million in potential milestone payments to Human Immunology Biosciences, the companies said. The deal, expected to close in Q3, includes felzartamab, a potential therapeutic candidate for a broad range of immune-mediated diseases. Biogen shares were down 1%.

Tesla (TSLA) registered 13,951 vehicles during April in Europe, the UK and the European Free Trade Association region, down from 14,278 a year earlier, the European Automobile Manufacturers' Association said Wednesday. The automaker's share of total car registrations in the area fell to 1.3% from 1.5% a year ago. Tesla shares were down 3% near midday.

Johnson & Johnson ( JNJ ) allegedly engaged in certain fraudulent transactions and "bad faith bankruptcy filings" that have hindered or delayed individuals who developed cancer from using the company's asbestos-laden talc products from having their days in court, according to a lawsuit filed Wednesday in a New Jersey federal district court. JNJ did not immediately respond to a request for comment by MT Newswires. JNJ shares were up 1.5%.

Amazon.com ( AMZN ) is planning to release an upgraded version of its Alexa voice assistant complete with generative artificial intelligence that will come with a monthly subscription fee, CNBC reported Wednesday, citing people with knowledge of the company's plans. The enhanced Alexa, expected to be unveiled later this year, aims to compete with Google ( GOOG ) and OpenAI chatbots by introducing more conversational capabilities, according to the report. Shares of Amazon ( AMZN ) were up 0.4%.

DocuSign ( DOCU ) wants to remain a public company, Chief Executive Allan Thygesen told CNBC after reports surfaced that the company had drawn takeover interest from private equity firms. DocuSign ( DOCU ) shares were down 2% in midday trading.

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