Prada is collaborating with NASA to design spacesuits, and the cost associated with this venture has raised eyebrows.
In the financial markets, the Nasdaq experienced a significant surge of 1.5%, accumulating 277 points on Monday afternoon. This rise followed President Joe Biden’s announcement that he would withdraw from the presidential race and endorse Vice President Kamala Harris. Concurrently, the Dow Jones Industrial Average increased by 0.3%, and the S&P 500 climbed by 1.1%.
Polymarket, a crypto-based betting platform, has endorsed Kamala Harris as the leading Democratic candidate for the presidency, while PredictIt, based in New Zealand, forecasts her as the near-future 47th president of the United States.
In the tech sector, Nvidia shares rose by 4% after reports indicated the company is developing a new version of its Blackwell AI chips tailored for the Chinese market. Nvidia plans to collaborate with local distributor Inspur to launch the chip, tentatively named the “B20,” with shipments expected to begin in the second quarter of 2025. Nvidia has not provided any comments regarding these developments.
Tesla’s stock jumped nearly 5% ahead of its upcoming earnings report, during which CEO Elon Musk is anticipated to discuss the delayed launch of the company’s robotaxis. Musk conveyed on social media that Tesla aims to produce functional humanoid robots for internal use in the next year, with hopes for broader availability by 2026.
On a less favorable note, CrowdStrike, the company linked to a significant global tech outage, continued to face challenges days later, although the situation was gradually stabilizing. CrowdStrike stated that out of approximately 8.5 million affected Windows devices, many are now operational again. However, the company’s stock saw a decline of over 13% on Monday afternoon, trading around $263.
Verizon suffered a nearly 6% drop on Monday following the release of its quarterly financial results. The telecommunications giant fell short of revenue expectations, as many customers retain their old phones longer than anticipated. This trend has negatively impacted upgrade rates for telecom providers offering promotional plans tied to new devices. Verizon’s second-quarter revenue stood at $32.8 billion, slightly below the analysts’ average estimate of $33.06 billion, while earnings per share matched forecasts at $1.15.