In a recent development, Donald Trump and Kamala Harris are in a tight race for the support of cryptocurrency voters, according to a poll conducted by Coinbase. On Monday afternoon, the Nasdaq saw an increase of 1.5%, gaining 277 points following President Joe Biden’s withdrawal from the presidential race and his endorsement of Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw modest gains of 0.3% and 1.1%, respectively.
The betting platform Polymarket is backing Harris as the likely Democratic nominee, while PredictIt, based in New Zealand, forecasts that she will become the 47th president of the United States.
In another significant move, Nvidia’s shares increased by 4% after reports surfaced indicating that the company is working on a version of its new Blackwell AI chips targeted for the Chinese market. Nvidia is expected to partner with local distributor Inspur to launch this new chip, provisionally named the “B20,” with shipping anticipated to commence in the second quarter of 2025.
Meanwhile, Tesla experienced a nearly 5% rise in stock prices just one day before its earnings report. CEO Elon Musk is expected to address the delayed rollout of the company’s robotaxi service during the call. Musk shared on social media that Tesla aims to have humanoid robots available for internal use by next year, with hopes for broader distribution in 2026.
CrowdStrike, the cybersecurity firm linked to a significant global tech outage last week, is recovering from the incident. The company reported that a majority of the approximately 8.5 million affected Windows devices are now back online. Despite this recovery, CrowdStrike’s stock fell over 13%, trading around $263.
Verizon’s shares declined nearly 6% after the company released its quarterly earnings report, which did not meet analysts’ expectations. The telecommunications giant noted that customers are holding onto their devices longer, negatively impacting upgrade rates. Verizon reported second-quarter revenue of $32.8 billion, slightly below the average forecast of $33.06 billion, while its earnings per share remained in line with expectations at $1.15.