Donald Trump and Kamala Harris are in a close race for the support of crypto voters, according to a recent poll by Coinbase. On Wall Street, the Nasdaq Composite rose by 1.5%, adding 277 points on Monday afternoon, following President Joe Biden’s announcement that he would not seek re-election and his endorsement of Vice President Kamala Harris. Meanwhile, the Dow Jones Industrial Average and the S&P 500 gained 0.3% and 1.1%, respectively.
The betting platform Polymarket predicts Harris will be the Democratic nominee, while New Zealand-based PredictIt forecasts she will become the 47th president of the United States.
In the tech sector, Nvidia’s shares jumped by 4% after reports indicated that the company is developing its new Blackwell AI chips for the Chinese market. Nvidia plans to collaborate with local distributor Inspur to launch a chip known as the “B20,” expected to start shipping in the second quarter of 2025.
Tesla’s stock also saw a rise of nearly 5% a day before its earnings report, where CEO Elon Musk is anticipated to discuss the delayed reveal of the company’s robotaxi. Musk indicated on social media that Tesla will begin low production of humanoid robots next year, with hopes for wider distribution by 2026.
On the other hand, CrowdStrike continues to deal with the repercussions of a major global tech outage experienced last week, stating that many of the 8.5 million affected Windows devices are now operational. Yet, the company’s stock dropped over 13% on Monday, trading around $263.
Verizon faced a nearly 6% decrease in its stock after missing quarterly revenue estimates in its latest earnings report. The telecom giant reported a second-quarter revenue of $32.8 billion, slightly below analysts’ expectations of $33.06 billion. Earnings per share were consistent with predictions at $1.15.