Donald Trump and Kamala Harris are in a tight race for the support of cryptocurrency voters, according to a poll conducted by Coinbase.
On Monday afternoon, the Nasdaq Composite climbed 1.5%, gaining 277 points, following President Joe Biden’s announcement on Sunday that he would withdraw from the presidential race and endorse Vice President Kamala Harris. Meanwhile, the Dow Jones Industrial Average increased by 0.3%, and the S&P 500 rose by 1.1%.
The prediction market Polymarket is backing Harris for the Democratic nomination, while PredictIt, based in New Zealand, suggests she will become the 47th president of the United States.
In a related development, Nvidia’s stock rose by 4% after Reuters reported that the company is working on a version of its new Blackwell AI chips aimed at the Chinese market. Nvidia will collaborate with the local partner, Inspur, for the launch and sale of the chip, which is provisionally named the “B20,” with shipments expected to commence in the second quarter of 2025. Nvidia has not commented further on the matter.
Tesla shares jumped nearly 5% a day before the company is set to release its earnings report, during which CEO Elon Musk is anticipated to discuss the delayed launch of the company’s robotaxi service. Musk mentioned on X that Tesla plans to have functional humanoid robots in low production for internal use next year, with hopes for higher production for other companies by 2026.
CrowdStrike, the cybersecurity firm involved in a significant global tech outage last Friday, is slowly recovering from the incident. The company noted that a large number of the approximately 8.5 million impacted Windows devices are now back online. However, CrowdStrike’s stock was down more than 13% on Monday afternoon, trading around $263.
Verizon’s stock fell nearly 6% after the company released its quarterly earnings report, which revealed lower-than-expected revenue. Customers are reportedly delaying upgrades to their mobile devices, which has negatively affected the company’s upgrade rates. Verizon reported second-quarter revenue of $32.8 billion, just short of analysts’ expectations of $33.06 billion, with earnings per share meeting predictions at $1.15.