In a recent poll conducted by Coinbase, Donald Trump and Kamala Harris are in a tight competition for the support of crypto voters. The Nasdaq index rose by 1.5%, gaining 277 points on Monday afternoon, spurred by President Joe Biden’s decision to withdraw from the presidential race and endorse Vice President Kamala Harris. Additionally, the Dow Jones Industrial Average and S&P 500 experienced increases of 0.3% and 1.1% respectively during the same period.
Polymarket, a crypto-based betting platform, currently favors Harris as the Democratic candidate for president, while New Zealand’s PredictIt predicts she will become the 47th president of the United States.
In other stock market news, Nvidia shares climbed by 4% following reports that the company is developing a version of its new Blackwell AI chips tailored for the Chinese market. Nvidia plans to collaborate with local partner Inspur for the launch of the chip, referred to tentatively as the “B20,” which is expected to begin shipping in the second quarter of 2025. Nvidia has not commented on the matter.
Tesla’s stock saw a nearly 5% surge ahead of its earnings announcement, during which CEO Elon Musk is expected to share updates regarding the delayed unveiling of the robotaxi. Musk commented on X that Tesla intends to have useful humanoid robots in low production for internal use next year, with high production for other companies anticipated by 2026.
Meanwhile, CrowdStrike, the cybersecurity firm responsible for last Friday’s significant tech outage, is still working to recover. The company noted that a large portion of the 8.5 million affected Windows devices have returned online. However, CrowdStrike’s stock was trading down over 13% in the afternoon, around $263.
Verizon experienced a nearly 6% drop in its stock price following the release of its quarterly earnings report, which revealed that the company had fallen short of revenue projections due to customers delaying phone upgrades. For the second quarter, Verizon reported revenue of $32.8 billion, slightly below the anticipated $33.06 billion, with earnings per share at $1.15, meeting market expectations.