Darden Restaurants’ stock rose significantly following a delivery partnership with Uber, contributing to an overall positive trading day on the Nasdaq, which was up 1.5% with an increase of 277 points. This boost occurred after President Joe Biden announced his withdrawal from the presidential race and endorsed Vice President Kamala Harris. The Dow Jones Industrial Average and the S&P 500 also saw gains, rising by 0.3% and 1.1%, respectively.
In political forecasts, Polymarket has designated Harris as the Democratic frontrunner for president, while PredictIt expects her to become the 47th president of the United States.
Nvidia shares climbed nearly 4% as reports emerged that the company is creating a version of its Blackwell AI chips for China. Nvidia plans to collaborate with local distributor Inspur for the rollout of the “B20” chip, expected to launch in the second quarter of 2025, although Nvidia has not confirmed these details.
Tesla’s stock surged nearly 5% one day before its anticipated earnings report, where CEO Elon Musk is expected to discuss the much-anticipated robotaxi project. Musk indicated on X that Tesla is on track to produce humanoid robots for internal use next year, with wider availability planned for 2026.
CrowdStrike continues to deal with the repercussions of a recent global tech outage, with over 8.5 million Windows devices affected, though many are returning to normal operation. The company’s stock was down over 13%, trading around $263.
Verizon experienced a nearly 6% drop in stock price after reporting quarterly earnings that fell short of analysts’ expectations. The telecommunications company reported second-quarter revenue of $32.8 billion, below the forecast of $33.06 billion, while meeting earnings per share expectations at $1.15. The decline is attributed to customers opting to keep their old phones longer, affecting upgrade rates.