Zepbound, the weight loss drug developed by Eli Lilly, has been shown to reduce the risk of heart failure.
On Monday afternoon, Nasdaq rose by 1.5%, gaining 277 points. This increase followed President Joe Biden’s announcement to withdraw from the presidential race and endorse Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 saw gains of 0.3% and 1.1%, respectively.
Meanwhile, crypto-based betting platform Polymarket has endorsed Harris as the Democratic nominee for president, and New Zealand-based PredictIt forecasts that she will become the 47th president of the United States.
Nvidia shares increased by 4% after Reuters reported that the company is working on a new version of its Blackwell AI chips for the Chinese market, in collaboration with local distribution partner Inspur. The new chip, tentatively called the “B20,” is expected to begin shipping in the second quarter of 2025. Nvidia did not comment on the development.
Tesla’s stock surged nearly 5% ahead of its upcoming earnings report, where Elon Musk is anticipated to discuss the delayed robotaxi unveiling. Musk also indicated that Tesla aims to produce useful humanoid robots in low quantities for internal use next year, with a goal of high production for other companies by 2026.
CrowdStrike, the cybersecurity firm that faced a massive global tech outage on Friday, is gradually returning to normalcy. “Of the approximately 8.5 million Windows devices that were impacted, a significant number are back online and operational,” the company stated. Despite this, CrowdStrike’s stock was down over 13% on Monday, trading around $263.
Verizon experienced a nearly 6% decline in its stock price following the release of its quarterly report. The telecommunications company missed its revenue estimates as customers are holding onto their old phones longer, affecting upgrade rates. Verizon reported second-quarter revenue of $32.8 billion, slightly below the analysts’ average estimate of $33.06 billion, with earnings per share at $1.15, meeting expectations.
—Britney Nguyen, Rocio Fabbro, and William Gavin contributed to this article.