Darden Restaurants’ stock surged following a new delivery partnership with Uber. On Monday afternoon, the Nasdaq experienced a 1.5% increase, gaining 277 points, prompted by President Joe Biden’s announcement to withdraw from the presidential race and endorse Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also reported gains, rising by 0.3% and 1.1%, respectively.
Polling from the crypto-based betting platform Polymarket suggests strong support for Harris as the Democratic nominee, while New Zealand’s PredictIt forecasts her potential to become the 47th president of the United States.
In a separate development, Nvidia shares rose by 4% after reports indicated the company is working on a version of its new Blackwell AI chips specifically for the Chinese market. Nvidia is collaborating with local distribution partner Inspur to launch the chip, known as the “B20,” which is expected to begin shipping in the second quarter of 2025.
Tesla’s stock jumped nearly 5% a day prior to its earnings report, during which CEO Elon Musk is anticipated to discuss the company’s delayed robotaxi rollout. Musk stated on X that Tesla plans to produce humanoid robots for internal use next year, with hopes for broader production by 2026.
CrowdStrike continues to recover from the aftermath of a recent global tech outage linked to the cybersecurity firm, with a significant number of the approximately 8.5 million impacted Windows devices back online. However, CrowdStrike’s stock was down over 13% on Monday afternoon, trading around $263.
Verizon faced a nearly 6% drop in stock value after its quarterly report revealed a revenue miss. The company reported second-quarter revenue of $32.8 billion, slightly under the analysts’ forecast of $33.06 billion, with earnings per share of $1.15 aligning with expectations. The decline has been attributed to customers retaining their old phones longer, which in turn has affected upgrade rates for wireless providers offering new device promotions.