Darden Restaurants’ stock surged following a new delivery partnership with Uber, boosting investor confidence.
On Monday afternoon, the Nasdaq experienced a 1.5% increase, gaining 277 points. This rise came after President Joe Biden announced his withdrawal from the presidential race and endorsed Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also reflected positive trends, increasing by 0.3% and 1.1%, respectively.
Polymarket, a crypto-based betting platform, currently favors Harris as the Democratic nominee, while PredictIt, based in New Zealand, predicts she will become the 47th president of the United States.
In a separate development, Nvidia’s shares rose by 4% after reports indicated that the company is working on a new version of its Blackwell AI chips tailored for the Chinese market. Nvidia is collaborating with the local partner Inspur to introduce the tentative “B20” chip, which is expected to launch in the second quarter of 2025.
Tesla’s stock climbed nearly 5% as investors anticipated its upcoming earnings report. CEO Elon Musk is expected to provide updates regarding the delayed unveiling of its robotaxi. Musk hinted on social media that Tesla plans to have useful humanoid robots in limited production for internal use by next year, aiming for broader production by 2026.
CrowdStrike, the cybersecurity firm involved in a major global tech outage last Friday, continued to face challenges, although operations were slowly returning to normal. The company reported that many of the approximately 8.5 million affected Windows devices were back online. Despite this, CrowdStrike’s stock was down over 13%, trading around $263.
Verizon’s stock fell nearly 6% following its quarterly earnings report, which revealed that the company missed revenue expectations. A trend of customers keeping their old phones longer has negatively impacted upgrade rates linked to promotional plans for new phone lines. Verizon reported second-quarter revenues of $32.8 billion, slightly below the analysts’ forecast of $33.06 billion, with earnings per share matching expectations at $1.15.