Medicare patients stand to save approximately $1.5 billion on ten prescription medications.
On Monday afternoon, the Nasdaq saw a rise of 1.5%, gaining 277 points, following President Joe Biden’s decision to exit the presidential race and endorse Vice President Kamala Harris. The Dow Jones Industrial Average increased by 0.3%, while the S&P 500 climbed 1.1%.
In the political sphere, the crypto-based betting platform Polymarket has endorsed Harris as the Democratic nominee for president, and the New Zealand-based PredictIt anticipates she will become the 47th president of the United States.
Nvidia’s share price rose by 4% after it was reported that the company is creating a version of its new Blackwell AI chips for the Chinese market. Nvidia is collaborating with local distributor Inspur to launch the chip, temporarily called the “B20,” which is expected to start shipping in the second quarter of 2025. The company has chosen not to comment on the reports.
Tesla stock increased by nearly 5% a day ahead of its earnings report. CEO Elon Musk is anticipated to provide insights on the delayed unveiling of the company’s robotaxi during the report. Musk mentioned on social media that Tesla is expected to have low production humanoid robots available for internal use next year and hopes to achieve high production for other companies by 2026.
CrowdStrike, the cybersecurity firm involved in Friday’s widespread tech outage, continues to manage the situation. The company reported that of the approximately 8.5 million Windows devices affected, many are now back online. However, CrowdStrike’s stock dropped over 13% on Monday afternoon, trading around $263.
Verizon’s shares fell nearly 6% after the release of its quarterly earnings report. The telecommunications company underperformed on revenue estimates, largely because customers are retaining their old phones longer, impacting upgrade rates. Verizon reported second-quarter revenue of $32.8 billion, slightly below analysts’ average estimate of $33.06 billion, with earnings per share at $1.15, matching expectations.