Prada is creating spacesuits for NASA, and the costs associated with this endeavor are astronomical.
In the financial markets, the Nasdaq saw a rise of 1.5%, gaining 277 points on Monday afternoon after President Joe Biden announced his withdrawal from the presidential race on Sunday and endorsed Vice President Kamala Harris. Meanwhile, the Dow Jones Industrial Average and S&P 500 recorded gains of 0.3% and 1.1%, respectively.
The crypto betting platform Polymarket currently supports Harris as the Democratic nominee for president, while New Zealand’s PredictIt forecasts that she will become the 47th president of the United States.
In tech news, Nvidia’s stock increased by 4% after reports emerged 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 introduce a chip tentatively named the “B20,” with shipments anticipated to begin in the second quarter of 2025. Nvidia has declined to comment on this development.
On the automotive front, Tesla experienced a nearly 5% surge in stock price one day before its earnings report, where Elon Musk is expected to discuss the company’s postponed robotaxi unveiling. Musk indicated on social media that Tesla will have low production of genuinely useful humanoid robots for internal use next year, and hopes to achieve higher production for other companies by 2026.
In cybersecurity, CrowdStrike is still facing repercussions from the major global tech outage caused by the company on Friday. However, they reported that many of the approximately 8.5 million affected Windows devices are gradually coming back online. CrowdStrike’s stock, meanwhile, dropped over 13% on Monday, trading around $263.
Verizon faced a significant decline of nearly 6% following the release of its quarterly earnings report, which fell short of revenue expectations. The company noted that customers are keeping their old phones longer, which has negatively affected upgrade rates in a market reliant on promotional plans tied to new devices. Verizon reported second-quarter revenue of $32.8 billion, slightly under the analyst average estimate of $33.06 billion, with earnings per share (EPS) matching expectations at $1.15.