Donald Trump and Kamala Harris Are Close Among Crypto Voters, According to Coinbase Poll
On Monday afternoon, the Nasdaq rose 1.5%, adding 277 points, following President Joe Biden’s exit from the presidential race and his endorsement of Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also experienced gains, increasing by 0.3% and 1.1%, respectively.
According to the crypto betting platform Polymarket, Harris is favored to be the Democratic nominee for president, while PredictIt, based in New Zealand, predicts she will become the 47th president of the United States.
Nvidia Shares Rise on New AI Chip Development
Nvidia’s stock jumped 4% after reports emerged that the company is developing a new version of its Blackwell AI chips specifically for the Chinese market. The company plans to collaborate with local partner Inspur to introduce the chip, known as the “B20,” in China, with shipments expected to commence in the second quarter of 2025. Nvidia has not provided comments on the matter.
Tesla Stock Climbs Ahead of Earnings Report
Tesla’s stock surged nearly 5% before its upcoming earnings report, where CEO Elon Musk is anticipated to discuss the company’s delayed robotaxi launch. Musk stated on X that Tesla plans to have low-production humanoid robots for internal use by next year, with hopes for higher production available for other companies by 2026.
CrowdStrike Continues to Face Challenges
CrowdStrike, the cybersecurity firm linked to a recent major global tech outage, is still addressing the situation days later. However, recovery efforts are underway. The company reported that a significant number of the approximately 8.5 million affected Windows devices are now operational again. Despite this, CrowdStrike’s stock fell over 13% on Monday afternoon, trading around $263.
Verizon Shares Drop Following Earnings Report
Verizon’s stock took a nearly 6% hit after the release of its quarterly earnings report, which showed a revenue miss as customers are delaying phone upgrades. This trend negatively impacted the telecom company’s promotional plans for new mobile lines. Verizon reported second-quarter revenue of $32.8 billion, slightly below the average analyst estimate of $33.06 billion, with earnings per share (EPS) matching expectations at $1.15.