Donald Trump and Kamala Harris are in a close race for the support of crypto voters, according to a recent Coinbase poll. On a related note, the Nasdaq Composite rose by 1.5%, gaining 277 points on Monday afternoon. This increase followed President Joe Biden’s announcement on Sunday that he is withdrawing from the presidential race and endorsing Vice President Kamala Harris. Meanwhile, the Dow Jones Industrial Average and S&P 500 saw modest gains of 0.3% and 1.1%, respectively.
In the realm of political predictions, the crypto betting platform Polymarket favors Harris as the Democratic nominee, while New Zealand-based PredictIt forecasts she will be the 47th president of the United States.
In the tech sector, Nvidia shares saw a 4% increase after reports from Reuters indicated the company is creating a version of its new Blackwell AI chips specifically for the Chinese market. Nvidia is expected to collaborate with local partner Inspur to launch the hardware, tentatively named the “B20,” with shipments anticipated to begin in the second quarter of 2025. The company has not yet commented on the report.
Tesla’s stock experienced a nearly 5% surge just one day before its earnings report, during which CEO Elon Musk is expected to discuss the company’s much-anticipated robotaxi reveal. Musk stated on X that Tesla plans to produce useful humanoid robots for internal use next year and aims to boost production for other companies by 2026.
In the cybersecurity sector, CrowdStrike is still facing challenges following a significant global tech outage last week. The company reported that a substantial portion of the approximately 8.5 million affected Windows devices have returned online and operational. However, CrowdStrike’s stock fell over 13% on Monday afternoon, trading at around $263.
Verizon’s stock dropped nearly 6% following the release of its quarterly earnings report, as the telecommunications company failed to meet revenue estimates. The slowdown is attributed to customers retaining their old phones for longer, which has adversely affected upgrade rates for telecom companies offering promotional plans for new mobile devices. Verizon reported second-quarter revenue of $32.8 billion, slightly below analysts’ average expectation of $33.06 billion, while its earnings per share (EPS) was $1.15, meeting projections.