Novo Nordisk’s pill form of Ozempic may significantly reduce the risk of heart attacks and strokes, based on recent findings. In financial markets, the Nasdaq experienced a 1.5% increase, adding 277 points following President Joe Biden’s exit from the presidential race and his endorsement of Vice President Kamala Harris. The Dow Jones Industrial Average rose by 0.3%, while the S&P 500 climbed 1.1%.
On the political spectrum, Polymarket, a cryptocurrency betting platform, favors Harris as the Democratic presidential nominee, and PredictIt forecasts her to become the 47th president of the United States.
In corporate news, Nvidia’s shares rose by 4% amid reports that the company is developing its new Blackwell AI chips for the Chinese market, collaborating with local partner Inspur for a tentative product called the “B20,” expected to ship in the second quarter of 2025, though Nvidia declined to comment on the matter.
Tesla shares soared nearly 5% ahead of its earnings report, where Elon Musk is anticipated to discuss the delay of its robotaxi launch. Musk indicated on social media that Tesla aims to have functional humanoid robots in low production next year, with hopes for higher production for external companies by 2026.
Meanwhile, CrowdStrike, which experienced a major outage affecting around 8.5 million Windows devices, is slowly recovering, as many devices are returning to operation. However, its stock dropped over 13%, trading at about $263 on Monday afternoon.
Verizon’s stock fell nearly 6% following the release of its quarterly earnings report, which showed revenues of $32.8 billion, slightly below the anticipated $33.06 billion. The telecom giant’s earnings per share were $1.15, aligning with expectations, but the company cited customers delaying phone upgrades as a primary factor in the revenue miss.