A recent Coinbase poll indicates that Donald Trump and Kamala Harris are in a close contest for the support of cryptocurrency voters.
On Monday afternoon, the Nasdaq rose by 1.5%, adding 277 points, following President Joe Biden’s withdrawal from the presidential race and his endorsement of Vice President Kamala Harris. During the same period, the Dow Jones Industrial Average and S&P 500 experienced gains of 0.3% and 1.1%, respectively.
Polymarket, a crypto-based betting platform, has Harris as the favored Democratic nominee, while the New Zealand platform PredictIt suggests she is likely to become the 47th president of the United States.
In other market news, Nvidia shares went up by 4% after reports emerged that the company is working on a new version of its Blackwell AI chips specifically for the Chinese market, in partnership with local distributor Inspur. The expected release for this chip, tentatively named the “B20,” is slated for the second quarter of 2025, although Nvidia has not commented on the matter.
Tesla’s stock also experienced a notable rise of nearly 5% just one day before its earnings report, where CEO Elon Musk is anticipated to address updates regarding the company’s delayed robotaxi launch. Musk mentioned on social media that Tesla aims to have functional humanoid robots in low production for internal use by next year and hopes to increase production for external clients by 2026.
Meanwhile, cybersecurity firm CrowdStrike continues to deal with the repercussions of a widespread tech outage that took place last Friday. The company reported that many of the approximately 8.5 million affected Windows devices are now back online. However, CrowdStrike’s stock has fallen over 13%, trading around $263.
Verizon, on the other hand, faced a significant decline of nearly 6% after releasing its quarterly earnings report, which revealed that the company missed revenue expectations as customers are keeping their old devices for longer. Verizon’s second-quarter revenue was reported at $32.8 billion, just below analysts’ predictions of $33.06 billion, while earnings per share matched expectations at $1.15.