Eli Lilly’s weight loss drug Zepbound has been found to help reduce the risks of heart failure.
In the financial markets, the Nasdaq rose by 1.5%, gaining 277 points on Monday afternoon, following President Joe Biden’s decision to withdraw from the presidential race on Sunday and his endorsement of Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw gains of 0.3% and 1.1%, respectively.
Crypto-based betting platform Polymarket has endorsed Kamala 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 surged by 4% after Reuters reported that the company is developing a version of its new Blackwell AI chips for the Chinese market. Nvidia will collaborate with local distributor Inspur to launch and sell the chip, tentatively named the “B20,” expected to ship in the second quarter of 2025.
Tesla’s stock increased by almost 5% a day before its earnings report, during which Elon Musk is anticipated to provide an update on the delayed robotaxi project. Musk tweeted that Tesla will have genuinely useful humanoid robots in low production for internal use next year and high production for other companies by 2026.
Meanwhile, cybersecurity company CrowdStrike is still dealing with the consequences of a massive global tech outage that affected around 8.5 million Windows devices. Although significant progress has been made in restoring these devices, CrowdStrike’s stock was down by over 13% on Monday afternoon, trading at around $263.
Verizon experienced a nearly 6% drop after its earnings report revealed that the company missed its quarterly revenue estimates. Customers are holding onto their old phones longer, impacting upgrade rates. Verizon’s second-quarter revenue was $32.8 billion, slightly below the average analyst estimate of $33.06 billion, with an earnings per share of $1.15, aligning with expectations.