Donald Trump and Kamala Harris are in a tight race for the support of cryptocurrency voters, according to a recent poll by Coinbase. Nasdaq rose by 1.5%, gaining 277 points on Monday afternoon after President Joe Biden announced his exit from the presidential race and endorsed Vice President Kamala Harris. The Dow Jones Industrial Average and the S&P 500 also saw increases of 0.3% and 1.1%, respectively.
The betting platform Polymarket has Harris favored as the Democratic nominee for president, while PredictIt from New Zealand predicts she will become the 47th president of the United States.
In other news, Nvidia’s shares surged by 4% after reports that the chipmaker is developing a version of its new Blackwell AI chips targeted at the Chinese market. Nvidia is expected to collaborate with local distributor Inspur to launch this new chip, tentatively named the “B20,” with shipping anticipated in the second quarter of 2025.
Tesla’s stock saw a nearly 5% increase ahead of its impending earnings report, where CEO Elon Musk is likely to provide updates on the long-awaited robotaxi initiative. Musk stated on X that Tesla is aiming for limited production of humanoid robots for internal use next year and hopes to achieve high production levels for other companies by 2026.
On the downside, CrowdStrike, which experienced a significant outage last week, is still recovering from the incident. The company reported that many of the approximately 8.5 million affected Windows devices are back online, though CrowdStrike’s stock fell over 13% on Monday, trading around $263.
Lastly, Verizon saw a steep decline of nearly 6% following the release of its quarterly earnings report, which did not meet revenue expectations. The company stated that customers are keeping their old phones longer, negatively affecting upgrade rates. Verizon reported second-quarter revenue of $32.8 billion, just short of the predicted $33.06 billion, with earnings per share in line with expectations at $1.15.