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Happy Friday! Everyone has a different plan ahead of the election. Some may be buying flights to Canada just in case. Others might be betting on the outcome through prediction markets. But here’s why some investors are piling into this ETF for protection ahead of next Tuesday. Plus, a preview of Benzinga’s ‘Stock Of The Day’.

—Aaron Bry

Plus, meet the tech start-up that’s partnering with Microsoft to reshape e-commerce.

MARKET SNAPSHOT

Yesterday: Tough day for the overall market after big tech stocks moved lower following reports from Microsoft and Meta. Uber was another notable loser on the day, shedding about 10% after the ride-share company reported earnings.

On Our Radar: Labor data on the way this morning. Then, of course, next week is the U.S. presidential election, as well as an FOMC decision on interest rates.

TOP STORY

Biggest Gold ETF Posts Highest Monthly Inflows In 2.5 Years

What Happened: The SPDR Gold Trust, the largest physically backed gold ETF, saw a significant influx of capital this month as economic and policy uncertainties surrounding the upcoming U.S. presidential election drive investors toward safe-haven assets.

So: GLD’s assets under management reached $79.7 billion as of Oct. 30, bolstered by $1.8 billion in net inflows for October — the fund’s strongest monthly inflow since March 2022, data from TradingView shows. Here’s what’s driving the demand for gold.

SPONSORED CONTENT

Tech Specialist Rezolve AI Forges Strategic Alliance With Microsoft To Transform The Retail Industry

Rezolve Ai Limited’s (NASDAQ: RZLV) partnership with Microsoft (NASDAQ: MSFT) seeks to revolutionize the retail industry by leveraging AI-powered tools specifically designed for e-commerce. The collaboration highlights Rezolve’s Brain Suite, offering solutions like Brain Commerce, Brain Checkout and Brain Assistant to improve customer engagement, streamline operations and boost conversions. Microsoft Azure provides the infrastructure to scale these solutions globally, while its Go-to-Market support accelerates adoption. With the AI in e-commerce market set to grow significantly over the next decade, Rezolve’s BrainPowa LLM potentially positions the company to drive the next wave of retail transformation through personalization and efficiency.

This is a paid ad. Please see 17b disclosure here for more information.

FIVE ZINGERS

Hungry Like The Wolf: Apple’s stock is trading slightly lower following the company’s earnings report. But here’s why CEO Tim Cook said customers are hungry for more.

Bullish On Bowls: Jim Cramer is liking Cava group, as well as this utilities stock. Here’s what the analysts are saying.

On The Rise: Waymo, Google’s self-driving subsidiary, was recently valued at $45 billion, surpassing the market cap of Ford and these other household names.

In Jeff We Trust: Amazon reported earnings after the close yesterday, bucking the trend of other mega-cap tech stocks by trading higher following a strong report.
 
Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Benzinga’s Stock Of The Day: $DJT

Editor’s Note: Every day, Benzinga Edge members receive a “stock of the day” which includes an actionable trade idea and the technical and fundamental analysis that goes with it. Here’s a sneak peak of yesterday’s stock of the day:

News regarding the upcoming election has made shares of Trump Media & Technology Group Corp skyrocket.

But the stock has run into resistance at a price level that was resistance before. This price action isn't a coincidence.

Stocks hitting resistance and reversing off of levels that had been resistance previously is a common occurrence in the market. It happens because of investor and trader psychology. Click here to see what that means for this stock.

A MESSAGE FROM BENZINGA

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Unlock unlimited stock reports, expert trade ideas, and in-depth insights with Benzinga Edge. Members gain exclusive weekly stock picks, premium research, and analyst ratings to stay ahead in the markets. Join for 65% off and start building a smarter portfolio today.

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