Donald Trump and Kamala Harris are closely competing for the support of cryptocurrency voters, according to a Coinbase poll.
The Nasdaq increased by 1.5%, gaining 277 points on Monday afternoon, following President Joe Biden’s exit from the presidential race and his endorsement of Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 reported gains of 0.3% and 1.1%, respectively.
The crypto prediction market Polymarket favors Harris as the Democratic nominee, while PredictIt from New Zealand predicts she will become the 47th president of the United States.
In stock news, Nvidia shares rose by 4% after reports emerged that the company is creating a new version of its Blackwell AI chips tailored for the Chinese market. Nvidia plans to collaborate with a local partner, Inspur, to launch the chip, expected to be named the “B20,” with shipments anticipated in the second quarter of 2025, although Nvidia declined to comment on the matter.
Tesla’s stock jumped nearly 5% ahead of its earnings report, where CEO Elon Musk is expected to discuss the much-anticipated rollout of its robotaxi service. Musk mentioned on social media that Tesla plans to have operational humanoid robots for internal use by next year and aims for higher production for external companies by 2026.
On the downside, CrowdStrike is still experiencing challenges following a global tech outage linked to the company. They reported that of the estimated 8.5 million impacted Windows devices, many have since returned to operation, although CrowdStrike’s stock was down over 13% by Monday afternoon.
Verizon’s stock fell nearly 6% after the company announced its quarterly earnings, which disappointed investors. The telecommunications giant reported a second-quarter revenue of $32.8 billion, slightly under the expected $33.06 billion, and earnings per share of $1.15, matching analyst projections. The company has indicated that customers are holding onto their phones longer, impacting upgrade rates negatively.