Donald Trump and Kamala Harris are closely competing for the favor of cryptocurrency voters, according to a poll conducted by Coinbase. On Monday afternoon, the Nasdaq rose by 1.5%, increasing by 277 points, following 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 gains, adding 0.3% and 1.1%, respectively.
The crypto betting platform Polymarket suggests that Harris is likely to secure the Democratic nomination for president, while PredictIt, a New Zealand-based betting platform, predicts that she will become the 47th president of the United States.
In corporate news, Nvidia’s shares climbed by 4% after reports indicated that the company is working on a version of its Blackwell AI chips tailored for the Chinese market. Nvidia is expected to collaborate with a local partner, Inspur, for the launch and sale of the chip, which is referred to as the “B20.” Sources indicate that shipments of the B20 could begin in the second quarter of 2025. Nvidia has chosen not to provide comments on the matter.
Tesla’s stock saw a rise of nearly 5% ahead of its upcoming earnings report, during which CEO Elon Musk is anticipated to discuss the long-delayed unveiling of the company’s robotaxi. Musk shared on X that Tesla plans to have functional humanoid robots for internal use next year, with hopes for high production rates for other companies by 2026.
Meanwhile, CrowdStrike, the cybersecurity firm involved in a significant technology outage last week, is slowly working to resolve the aftermath. The company reported that many of the approximately 8.5 million affected Windows devices are back online. Despite these developments, CrowdStrike’s stock fell over 13% on Monday afternoon and was trading around $263.
Verizon faced a nearly 6% decline after releasing its quarterly earnings report, which fell short of revenue expectations. The telecommunications company noted that customers are retaining their old phones for longer, adversely affecting upgrade rates tied to promotional plans associated with new mobile lines. Verizon’s second-quarter revenue was reported at $32.8 billion, slightly under the average analyst forecast of $33.06 billion, while its earnings per share (EPS) of $1.15 met expectations.