Medicare patients stand to save approximately $1.5 billion on ten prescription medications, according to recent reports.
In the stock market, the Nasdaq experienced a 1.5% increase, adding 277 points on Monday afternoon. This lift followed President Joe Biden’s decision to withdraw from the presidential race and endorse Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw gains, up 0.3% and 1.1%, respectively.
In political predictions, the crypto-based betting platform Polymarket has favored Harris as the likely Democratic nominee, and New Zealand’s PredictIt projects her as the next president of the United States.
On the tech front, Nvidia’s shares rose by 4% following news that the company is crafting a variant of its Blackwell AI chips for the Chinese market. Collaborating with local partner Inspur, Nvidia aims to launch and sell the chip, referred to as the “B20,” starting in the second quarter of 2025, although the company has not officially commented on the matter.
Tesla’s stock jumped nearly 5% ahead of its much-anticipated earnings report, where CEO Elon Musk is expected to discuss the company’s upcoming robotaxi technology. Musk indicated on social media that Tesla will have workable humanoid robots in limited production by next year and hopes for broader production for other companies by 2026.
CrowdStrike, the cybersecurity firm involved in last week’s significant global tech outage, continues working on recovery efforts. Reports indicated that many of the affected 8.5 million Windows devices are returning to operational status, although CrowdStrike’s stock remains down over 13%, trading around $263.
Verizon’s shares dropped almost 6% after the release of its quarterly earnings report, which revealed that the company missed revenue projections. The slowdown is attributed to customers retaining their older phones for longer, adversely affecting upgrade rates. Verizon reported second-quarter revenue of $32.8 billion, falling short of analysts’ expectations of $33.06 billion, while its earnings per share matched estimates at $1.15.