Darden Restaurants’ stock soared following a new delivery partnership with Uber. On Monday afternoon, the Nasdaq rose 1.5%, gaining 277 points, influenced by President Joe Biden’s withdrawal from the presidential race and his endorsement of Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw increases of 0.3% and 1.1%, respectively.
Polymarket, a crypto-based betting platform, has declared Harris as the likely Democratic nominee for president, while PredictIt from New Zealand forecasts her to be the 47th president of the United States.
Nvidia’s shares jumped 4% as reports surfaced about the company designing a version of its Blackwell AI chips tailored for the Chinese market. Nvidia plans to collaborate with the local partner, Inspur, for the launch of the chip, provisionally named “B20,” expected to start shipping in the second quarter of 2025. Nvidia has not commented on this development.
Tesla’s stock climbed nearly 5% ahead of its earnings report, where CEO Elon Musk is set to discuss the rollout of the company’s delayed robotaxi. Musk announced on social media that Tesla plans to have useful humanoid robots in limited production for internal use by next year, with broader production for other companies anticipated in 2026.
CrowdStrike, which experienced a major tech outage last Friday, faced continued challenges but indicated recovery. The company reported that a significant portion of the 8.5 million impacted Windows devices was back online. Despite these signs of recovery, CrowdStrike’s stock fell over 13% on Monday, trading around $263.
Verizon’s stock dropped nearly 6% following its quarterly earnings report, which missed revenue estimates. The telecommunications company attributed this shortfall to customers retaining their devices longer, affecting upgrade rates. Verizon’s second-quarter revenue was reported at $32.8 billion, modestly below the expected $33.06 billion, while its earnings per share remained steady at $1.15.