Eli Lilly’s weight loss drug Zepbound has been found to potentially reduce the risk of heart failure.
In the stock market, the Nasdaq increased by 1.5%, adding 277 points on Monday afternoon, spurred by President Joe Biden’s decision to withdraw from the presidential race and endorse Vice President Kamala Harris. The Dow Jones Industrial Average rose by 0.3%, while the S&P 500 climbed by 1.1%.
The cryptocurrency betting platform Polymarket now places its bets on Harris as the Democratic nominee for president, while New Zealand-based PredictIt forecasts that she will become the 47th president of the United States.
In tech news, Nvidia’s shares rose by 4% after reports indicated that the company is working on a version of its new Blackwell AI chips specifically for the Chinese market. Nvidia is expected to collaborate with local distributor Inspur to launch these chips, tentatively named “B20,” with an anticipated release in the second quarter of 2025. Nvidia has refrained from commenting on this matter.
Tesla’s stock experienced a nearly 5% increase ahead of its earnings report, during which CEO Elon Musk is expected to address updates regarding the delayed robotaxi launch. Musk announced on X that Tesla plans to have useful humanoid robots in low production for internal use next year and hopes to ramp up production for other companies by 2026.
CrowdStrike, the cybersecurity firm involved in a significant global tech outage last Friday, is slowly recovering from the incident. The company reported that a large portion of the approximately 8.5 million affected Windows devices have returned online. However, CrowdStrike’s stock fell over 13%, trading around $263 on Monday afternoon.
Verizon saw a nearly 6% drop in stock value following the release of its quarterly earnings report. The telecommunications giant fell short of revenue expectations due to customers opting to keep their old phones longer, adversely affecting upgrade rates. Verizon reported second-quarter revenue of $32.8 billion, just shy of the expected $33.06 billion, with earnings per share (EPS) at $1.15, meeting forecasts.