Prada’s NASA Partnership and Market Reactions: What You Need to Know!

Prada is producing spacesuits for NASA, and the costs associated are astronomical.

In the stock market on Monday afternoon, the Nasdaq climbed by 1.5%, gaining 277 points, after President Joe Biden announced his exit from the presidential race and endorsed Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw increases, rising by 0.3% and 1.1%, respectively.

In the realm of political bets, Polymarket is backing Harris as the Democratic candidate for president, while PredictIt, a New Zealand-based platform, forecasts she will become the 47th president of the United States.

Nvidia’s shares experienced a 4% uptick in the afternoon, fueled by reports that the company is developing a version of its Blackwell AI chips targeted at the Chinese market. Working with local partner Inspur, Nvidia plans to release the chip, tentatively named the “B20,” in China, with shipments expected to begin in the second quarter of 2025, although Nvidia did not provide comments on the report.

Tesla’s stock jumped nearly 5% ahead of its earnings report, where CEO Elon Musk is anticipated to discuss the company’s delayed robotaxi launch. Musk stated on social media that Tesla aims to have functional humanoid robots in low production for internal use next year, with hopes for higher production for external companies by 2026.

CrowdStrike, the cybersecurity firm involved in a significant global tech outage late last week, is slowly recovering. The company reported that a substantial number of the approximately 8.5 million affected Windows devices are now back online. However, CrowdStrike’s stock saw a decline of over 13% on Monday afternoon, trading around $263.

Verizon’s stock fell sharply by nearly 6% following its quarterly earnings report, which showed the company missed revenue projections due to customers keeping their old devices longer than anticipated. Verizon’s second-quarter revenue was reported at $32.8 billion, slightly below the average analyst estimate of $33.06 billion, while its earnings per share met expectations at $1.15.

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