Donald Trump and Kamala Harris are in a tight race for the support of crypto voters, according to a recent poll by Coinbase.
On Monday afternoon, the Nasdaq rose by 1.5%, gaining 277 points, as the market reacted to President Joe Biden’s announcement that he would withdraw from the presidential race and endorse Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw increases, adding 0.3% and 1.1%, respectively.
The betting platform Polymarket currently favors Harris as the Democratic nominee for president, while PredictIt suggests she will become the 47th president of the United States.
In tech news, Nvidia’s shares climbed 4% following a report by Reuters indicating that the company is working on a version of its new Blackwell AI chips specifically for the Chinese market. Nvidia is collaborating with local partner Inspur to launch the chip, tentatively named “B20,” which is expected to begin shipping in the second quarter of 2025.
Tesla’s stock experienced a nearly 5% surge ahead of its earnings report, where CEO Elon Musk is expected to discuss the long-awaited robotaxi unveiling. Musk shared on social media that Tesla plans to have useful humanoid robots in limited production for internal use by next year and in larger production for other companies by 2026.
CrowdStrike, the cybersecurity firm linked to a massive tech outage last Friday, is still addressing the repercussions, although recovery efforts are under way. The company reported that many of the approximately 8.5 million affected Windows devices are coming back online. Nevertheless, CrowdStrike’s stock dipped over 13% on Monday to around $263.
Verizon’s shares fell nearly 6% after the release of its quarterly earnings report. The telecommunications company missed revenue estimates, attributed to customers delaying phone upgrades. Verizon reported second-quarter revenue of $32.8 billion, slightly below the analysts’ average estimate of $33.06 billion, and earnings per share matched expectations at $1.15.