Donald Trump and Kamala Harris are closely competing for the support of crypto voters, according to a poll conducted by Coinbase.
On Monday afternoon, the Nasdaq rose by 1.5%, gaining 277 points, following President Joe Biden’s exit from the presidential race and his endorsement of Vice President Kamala Harris. During the same afternoon, the Dow Jones Industrial Average and the S&P 500 saw increases of 0.3% and 1.1%, respectively.
The crypto betting platform Polymarket currently favors Harris as the Democratic nominee, while the New Zealand-based site PredictIt predicts she will be the 47th president of the United States.
In corporate news, Nvidia shares surged by 4% after reports indicated the company is creating a version of its Blackwell AI chips tailored for the Chinese market. Nvidia plans to collaborate with local distributor Inspur to launch the chip, provisionally named the “B20,” expected to start shipping in the second quarter of 2025.
Meanwhile, Tesla’s stock jumped nearly 5% a day before its earnings report, where CEO Elon Musk is anticipated to discuss the delayed unveiling of the company’s robotaxi. Musk stated on X that Tesla aims to have humbling robots in limited production for internal use next year and hopes for widespread production for other companies by 2026.
In contrast, CrowdStrike, the cybersecurity firm linked to a significant global tech outage last Friday, is still struggling with the aftermath. The company reported that while many of the approximately 8.5 million affected Windows devices are back online, its stock fell over 13% on Monday, trading around $263.
Verizon, however, faced a sharp decline of nearly 6% after announcing its quarterly earnings report. The telecommunications giant missed revenue estimates due to customers holding on to older phones longer, impacting upgrade rates for promotional plans. Verizon’s second-quarter revenue was reported at $32.8 billion, just shy of analysts’ expectations of $33.06 billion, while its earnings per share matched predictions at $1.15.