Donald Trump and Kamala Harris are in a close race among cryptocurrency voters, according to a recent poll by Coinbase.
The Nasdaq Composite climbed 1.5%, gaining 277 points on Monday afternoon, following President Joe Biden’s decision to withdraw from the presidential race and endorse Vice President Kamala Harris. Meanwhile, the Dow Jones Industrial Average and the S&P 500 saw increases of 0.3% and 1.1%, respectively.
The cryptocurrency betting platform Polymarket currently favors Harris as the likely Democratic nominee for president, while PredictIt, based in New Zealand, anticipates she will serve as the 47th president of the United States.
In business news, shares of Nvidia surged by 4% after Reuters reported that the company is working on a variant of its new Blackwell AI chips specifically for the Chinese market. Collaborating with local distributor Inspur, Nvidia plans to launch and sell the chip, tentatively named “B20,” with an expected shipping date in the second quarter of 2025. Nvidia has not provided further comments on this development.
Tesla’s stock saw a nearly 5% increase ahead of its earnings report, where CEO Elon Musk is expected to offer updates on the company’s delayed robotaxi initiative. Musk stated on social media that Tesla plans to produce humanoid robots for internal use next year, aiming for broader production for other companies by 2026.
On the cybersecurity front, CrowdStrike continues to manage the aftermath of a significant global tech outage that occurred on Friday. The company announced that a substantial number of the 8.5 million affected Windows devices are now back online. However, CrowdStrike’s stock has fallen over 13% on Monday, trading around $263.
Verizon experienced a nearly 6% drop in stock value following the release of its quarterly earnings report, which fell short of revenue estimates. The telecommunications company attributed the shortfall to customers retaining their older phones longer, negatively affecting upgrade rates associated with promotional phone plans. Verizon reported second-quarter revenue of $32.8 billion, slightly below the expected $33.06 billion, while earnings per share remained steady at $1.15.