Donald Trump and Kamala Harris are in a tight race for the support of cryptocurrency voters, according to a recent poll conducted by Coinbase.
On Monday afternoon, the Nasdaq Composite rose by 1.5%, adding 277 points, following President Joe Biden’s decision to withdraw from the presidential race and endorse Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw gains of 0.3% and 1.1%, respectively.
The crypto betting platform Polymarket has projected Harris as the Democratic nominee, while New Zealand-based PredictIt has forecasted that she will become the 47th president of the United States.
In market news, Nvidia’s shares climbed 4% after reports indicated that the company is working on a version of its new Blackwell AI chips specifically for the Chinese market. Nvidia plans to collaborate with local distributor Inspur to launch and sell the chip, referred to as the “B20,” which is expected to begin shipping in the second quarter of 2025.
Meanwhile, Tesla’s stock increased nearly 5% ahead of its upcoming earnings report, where CEO Elon Musk is expected to discuss the delayed unveiling of the company’s robotaxi. On social media, Musk stated that Tesla aims to have functional humanoid robots for internal use next year and potential high production for other companies by 2026.
In contrast, CrowdStrike, the cybersecurity firm linked to a major global tech outage last Friday, continues to deal with the repercussions. The company announced that many of the approximately 8.5 million impacted Windows devices have been restored, but its stock was down over 13%, trading near $263 on Monday.
Verizon experienced a decline of nearly 6% following the release of its quarterly earnings, which missed revenue expectations as more customers are retaining their older devices longer, affecting upgrade rates. The company reported second-quarter revenue of $32.8 billion, below the average analyst estimate of $33.06 billion. Its earnings per share remained steady at $1.15, in line with forecasts.