Donald Trump and Kamala Harris are in a tight race among cryptocurrency voters, according to a recent poll by Coinbase. On Monday afternoon, the Nasdaq rose by 1.5%, adding 277 points after President Joe Biden announced his withdrawal from the presidential race and endorsed Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 saw increases of 0.3% and 1.1% respectively.
The crypto betting platform Polymarket shows support for Harris as the Democratic nominee for president, while PredictIt from New Zealand anticipates she will become the 47th president of the United States.
In corporate news, Nvidia’s shares climbed 4% after reports that the company is working on a version of its new Blackwell AI chips for the Chinese market. Collaborating with local distribution partner Inspur, Nvidia plans to launch the chip, expected to be called the “B20,” with shipments anticipated to begin in the second quarter of 2025.
Tesla’s stock rose nearly 5% in anticipation of its earnings report, where CEO Elon Musk is expected to discuss the company’s delayed robotaxi project. Musk indicated on social media that Tesla aims to produce useful humanoid robots for internal use next year and potentially for other companies by 2026.
CrowdStrike, which faced significant challenges following a global tech outage last Friday, is gradually returning to normal operations. The company reported that a large number of the approximately 8.5 million Windows devices affected are now back online, although its stock was down over 13% in afternoon trading, around $263.
Verizon experienced a nearly 6% drop after releasing its quarterly earnings report, which failed to meet revenue expectations. The telecommunications company noted that customers are holding onto their old phones longer, impacting upgrade rates linked to promotional plans. Verizon’s revenue for the second quarter amounted to $32.8 billion, slightly below the average analyst estimate of $33.06 billion, while its earnings per share were reported at $1.15, in line with expectations.