Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) recently launched 2024 election contracts and in one week the company passed an impressive milestone as<a href="https://www.benzinga.com/topic/2024-election"> Election Day (Nov. 5) nears.</a>



What Happened: Robinhood CEO Vlad Tenev <a href="https://x.com/vladtenev/status/1853239431811211308?s=46">shared </a>on X that the company passed 100 million contracts traded in less than a week since <a href="https://www.benzinga.com/news/24/10/41573989/harris-vs-trump-robinhood-launches-election-event-contracts-for-traders-as-2024-presidential-race-he">launching election contracts.</a>



The news comes as interest in prediction markets for the 2024 election has soared with Polymarket and Kalshi attracting bets from people around the world.



Robinhood's election contracts launched to select users and have a U.S. citizenship requirement. Polymarket is only available to users outside the U.S. Kalshi is regulated&nbsp;by the Commodity Futures Trading Commission in the U.S.



On Robinhood, the 2024 election contracts show Donald Trump as the favorite at 57 cents and Vice President Kamala Harris the underdog at 45 cents. Each contract will cash out at $1 for the winning presidential candidate.



Did You Know?



<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent110424">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>



Why It's Important: The new election contracts give Robinhood users another investment option alongside stocks, options and cryptocurrency. 



One of the key differences between Robinhood's contracts and the main Polymarket prediction market for the 2024 presidential election is the closing date for the market.



Polymarket, which has attracted $2.9 billion in wagers on the 2024 presidential matchup, has Trump as the <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1730733004342">favorite </a>at 59.1% with Harris behind at 40.9%. Harris narrowed the gap over the weekend to 46.2% to Trump's 53.8% before dropping again. In late October, Trump's odds showed a commanding lead of around 66%.



On Polymarket, winning contracts also cash out at $1, with users able to deposit funds using USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) via the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) network or directly from a crypto account with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).



Polymarket's prediction market for the 2024 election will cash out when the Associated Press, Fox and NBC all call the election for the same candidate. If this does not occur, the market will stay open until inauguration day, Jan. 20, 2025.



Robinhood's contracts do not close until the end of trading on Jan. 5, 2025, with a payout date of Jan. 8, 2025. The counting of electoral votes in Congress occurs on Jan. 6, 2025, to certify the election results.



There is a high likelihood that the results are known before January, which could give Robinhood traders the ability to sell their contracts at a profit. The question is if they can get close to the full $1 payout or need to wait until the payout date.



The success of the 2024 election contracts could lead to more on this front from Robinhood.



"Just this week, we launched our Presidential Election Market. We have a ton of momentum, and we're just getting started," Tenev said after Robinhood's <a href="https://www.benzinga.com/news/earnings/24/10/41636963/robinhood-stock-drops-after-q3-revenue-miss-details">third-quarter financial results.</a>



HOOD Price Action: Robinhood stock is down 0.13% to $23.93 on Monday at publication versus a 52-week trading range of $7.91 to $28.58. Robinhood stock is up 97% year-to-date in 2024.



Read Next: 



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41694948/trump-polymarket-whale-has-30m-bet-on-former-president-winning-2024-election-my-intent-is-">Trump Polymarket Whale Has $30M Bet On Former President Winning 2024 Election: &#8216;My Intent Is Just Making Money&#8217;</a></li>
</ul>



Photo: Andrew Angelov via Shutterstock

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Robinhood Passes 100 Million 2024 Election Contracts: Do Users Favor Trump Or Harris On Stock Brokerage App?

Elon Musk's endorsement of Donald Trump's 2024 presidential campaign might seem surprising to some, especially given <a href="https://www.benzinga.com/topic/elon-musk">Musk's past political inclinations.</a>



Once a supporter of Democratic candidates — he voted for Barack Obama in 2008, 2012 and Hillary Clinton in 2016 — Musk publicly soured on the party in recent years, and turned his focus to Trump's bid to retake the White House.



Musk's shift might seem ideological on the surface, but a closer look suggests his motivations may be less about politics and more about money. 



Musk's support for Trump — and his fierce rejection of Vice President Kamala Harris — aligns closely with the performance of his biggest asset: Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x270b; <a href="https://t.co/9ofZwRQHGU">https://t.co/9ofZwRQHGU</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1853305641382584768?ref_src=twsrc%5Etfw">November 4, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h1 class="wp-block-heading">Tesla: Thriving under Trump, Lagging under Biden</h1>



To understand Musk's motives, it's crucial to examine Tesla's stock performance during Trump's presidency compared to Biden's. 



During Trump's term from November 2016 to November 2020, Tesla stock surged by an astounding 987%, yielding an annualized return of roughly 84%. 



This staggering growth propelled Musk's net worth from $8 billion in 2016 to $107 billion by the end of Trump's presidency — a more than 13-fold increase, according to data from the Bloomberg Billionaires Index.



Under Joe Biden&#8217;s presidency, Tesla's performance has been notably more modest. Since November 2020, Tesla shares have gained about 86.5%, or roughly 16.2% on an annualized basis.



While this is still a respectable performance, it pales in comparison to the growth Tesla saw during Trump's tenure. Musk's wealth has continued to rise, reaching an estimated $262 billion in November 2024, but the rate of increase has slowed significantly



Given that Musk's fortune is heavily tied to Tesla's stock price — he owns 22.3% of Tesla's 3.21 billion outstanding shares his wealth has become increasingly sensitive to the company's performance in the stock market.



According to the Economic Times, roughly three-quarters of Elon Musk&#8217;s wealth is tied directly to Tesla shares.



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>Metric</th><th>Trump Presidency (Nov. 2016 &#8211; Nov. 2020)</th><th>Biden Presidency (Nov. 2020 &#8211; Nov. 2024)</th></tr></thead><tbody><tr><td>Tesla Stock Price Increase</td><td>+987%</td><td>+86.5%</td></tr><tr><td>Annualized Return</td><td>~84%</td><td>~16.2%</td></tr><tr><td>Musk&#8217;s Net Worth (Start)</td><td>$8 billion</td><td>$107 billion</td></tr><tr><td>Musk&#8217;s Net Worth (End)</td><td>$107 billion</td><td>$262 billion</td></tr><tr><td>Net Worth Growth</td><td>13-fold increase</td><td>2.5-fold increase</td></tr></tbody></table></figure>



<h1 class="wp-block-heading">Musk&#8217;s Major Threat Is Jensen Huang and Nvidia's Meteoric Rise</h1>



While Tesla's growth cooled, Nvidia surged ahead, setting up Jensen Huang, NVIDIA Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO, as a real challenger to Musk's status as the world's richest person.



Nvidia shares have skyrocketed by 958% during Biden's presidency, curiously mimicking Tesla's returns during the preceding four years. 



This rally has driven Huang's wealth from $11.8 billion in November 2020 to $118 billion in November 2024, a nearly 10-fold increase that echoes Musk's meteoric rise during the Trump years.



Huang, who currently ranks 11th on Bloomberg's Billionaires Index, is not yet close to Musk's wealth level. 



But if Nvidia's stock continues its upward trajectory, Huang could quickly close the gap, especially if Tesla's performance remains moderate. 



For Musk, seeing the AI giant experience the kind of exponential growth Tesla once enjoyed might underscore the need for a return to Trump-era policies, which he may perceive as more business-friendly for Tesla and his wealth.



<h1 class="wp-block-heading">Chart: Tesla (Nov. 2016-Nov.2020) vs. Nvidia (Nov. 2020-Nov. 2024)</h1>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="504" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04105346/image-17-1024x504.png" alt="" class="wp-image-628265" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04105346/image-17-1024x504.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04105346/image-17-300x148.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04105346/image-17-768x378.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04105346/image-17-1536x756.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04105346/image-17.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41709990/trump-and-tesla-what-the-future-holds-for-elon-musks-ev-giant-in-case-of-a-gop-win">Trump And Tesla: What The Future Holds For Elon Musk&#8217;s EV Giant In Case Of A GOP Win</a></li>
</ul>



Photo: Shutterstock

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Tesla Vs. Nvidia Stock Performance Under Biden Might Reveal Truth About Elon Musk's Support For Trump

Each trading day features hundreds of headlines and press releases on Benzinga Pro, a source for traders to see the latest news on the overall market <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">and individual tickers.</a>



Here is a look at the most-searched stocks on Benzinga Pro for October 2024. Current prices and year-to-date performance are based on Nov. 1 and do not include dividends.



1. Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)



<ul>
<li>Current Price: $248.98</li>



<li>52-Week Range: $138.80 to $273.54</li>



<li>Year-to-Date Return: +0.2%</li>



<li><a href="https://www.benzinga.com/top-stories/24/08/40119459/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-july-2024-where-do-tesla-nvidia-apple-crow">July</a>/<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40691773/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-august-2024-where-do-tesla-n">August</a>/<a href="https://www.benzinga.com/top-stories/24/10/41150827/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-september-2024-where-do-tesla-nvidia-apple">September </a>Ranking: 1st/3rd/3rd</li>
</ul>



2. NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)



<ul>
<li>Current Price: $135.37</li>



<li>52-Week Range: $44.90 to $144.42</li>



<li>Year-to-Date Return: +181.0%</li>



<li>July/August/September Ranking: 2nd/1st/1st</li>
</ul>



3. Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)



<ul>
<li>Current Price: $30.56</li>



<li>52-Week Range: $11.75 to $79.38</li>



<li>Year-to-Date Return: +75.7%</li>



<li>July/August/September Ranking: Not in Top 20/Not in Top 20/20th</li>
</ul>



4. SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)



<ul>
<li>Current Price: $571.04</li>



<li>52-Week Range: $426.56 to $586.12</li>



<li>Year-to-Date Return: +20.8%</li>



<li>July/August/September Ranking: 3rd/2nd/2nd</li>
</ul>



5. Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)



<ul>
<li>Current Price: $26.05</li>



<li>52-Week Range: $24.92 to $122.90</li>



<li>Year-to-Date Return: -8.8%</li>



<li>July/August/September Ranking: 19th/4th/7th</li>
</ul>



6. Bright Minds Biosciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRUG#NASDAQ">DRUG</a>)



<ul>
<li>Current Price: $48.18</li>



<li>52-Week Range: $0.93 to $79.02</li>



<li>Year-to-Date Return: +2,518.5%</li>



<li>July/August/September Ranking: Not in Top 20 in Any</li>
</ul>



7. Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)



<ul>
<li>Current Price: $141.86</li>



<li>52-Week Range: $110.22 to $227.30</li>



<li>Year-to-Date Return: +2.4%</li>



<li>July/August/September Ranking: 14th/8th/Not in Top 20</li>
</ul>



8. Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)



<ul>
<li>Current Price: $222.91</li>



<li>52-Week Range: $164.08 to $237.49</li>



<li>Year-to-Date Return: +20.1%</li>



<li>July/August/September Ranking: 7th/6th/4th</li>
</ul>



9. Tevogen Bio Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVGN#NASDAQ">TVGN</a>)



<ul>
<li>Current Price: $2.37</li>



<li>52-Week Range: $0.26 to $21.09</li>



<li>Year-to-Date Return: -78.7%</li>



<li>July/August/September Ranking: Not in Top 20 in Any</li>
</ul>



10. Oklo Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>)



<ul>
<li>Current Price: $21.67 </li>



<li>52-Week Range: $5.35 to $28.12 </li>



<li>Year-to-Date Return: +104.4% </li>



<li>July/August/September Ranking: Not in Top 20 in Any </li>
</ul>



Did You Know?



<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent110424">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>



Honorable Mentions:&nbsp;The following stocks were the 11th&nbsp;to 20th&nbsp;most-searched tickers on&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;in October 2024.



11. Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)



12. Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)



13. Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)



14. Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)



15. Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)



16. MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>)



17. Genprex Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNPX#NASDAQ">GNPX</a>)



18. SoFi Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)



19. Boeing Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)



20. TeraWulf Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>)



Why It's Important: Tesla, regularly among the most searched tickers on the site, climbed the leaderboard to be the most-searched ticker on Benzinga Pro in October. The stock was third in the past two months, but ranked first in July. 



Nvidia ranked second in October, dropping from first place over the last two months. The technology giant briefly passed Apple and Microsoft to be the<a href="https://www.benzinga.com/markets/equities/24/10/41551461/nvidia-overtakes-apple-as-worlds-most-valuable-company-again"> most valuable company in the world.</a>



One of the biggest movers in October was Trump Media &amp; Technology Group, a media company co-founded by former President Donald Trump. The stock has surged in recent weeks ahead of Election Day. Trump's odds of winning the 2024 presidential election have <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41635149/2024-election-odds-on-polymarket-kalshi-show-trump-will-win-why-they-might-be-wrong">increased across prediction markets</a> and sports betting apps.



The stock has also been highlighted as a potential <a href="https://www.benzinga.com/general/politics/24/10/41630878/djt-short-squeeze-could-push-stock-to-60-if-trump-wins-but-analysis-says-loss-could-make-shares-">short-squeeze stock </a>with high short interest. A 2024 election win by Trump could see the stock shoot higher. Likewise, the stock could fall significantly if Trump loses the election.



Trump Media &amp; Technology Group will likely be among the most searched tickers on Benzinga Pro in November with Election Day happening on Nov. 5. The stock was the 20th most searched ticker in September and wasn't in the top 20 in August or July, ranking just outside the top 20.



The SPDR S&amp;P 500 ETF Trust falls to fourth place from second in the past two months, likely due more to the surge in interest in the stocks mentioned above and not less interest in the S&amp;P 500 market index. Although it should be noted that the Invesco QQQ Trust ETF, which tracks the Nasdaq 100 Index, fell from sixth place to 15th in October, potentially signaling less interest in ETFs and market indexes.



Other newcomers to the top 10 were Bright Minds Biosciences, Tevogen Bio and Oklo, who have each not previously been among the top 20 most-searched tickers in any given month. Tevogen shares have fallen significantly in 2024, while Bight Minds Sciences and Oklo are each up over 100% in 2024.



Advanced Micro Devices also returned to the top 10, ranking seventh, which comes after falling out of the top 20 in September. The stock has regularly gone back and forth between the top 10 and top 20 each month in 2024.



Dropping out of the top 10 along with Invesco QQQ were Wheeler Real Estate Investment Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLR#NASDAQ">WHLR</a>), Galmed Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLMD#NASDAQ">GLMD</a>), Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Intuitive Machines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>). &nbsp;



Overall the month of October saw five of the same top 10 tickers from September and eight of the top 20 tickers from September.



Read Next: 



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<li><a href="https://www.benzinga.com/general/education/24/10/41665149/these-10-stocks-were-s-p-500s-top-performers-in-bidens-first-year-could-the-trend-continue-if-h">These 10 Stocks Were S&amp;P 500&#8217;s Top Performers In Biden&#8217;s First Year: Could Trend Continue If Harris Wins 2024 Election?</a></li>
</ul>

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EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In October 2024 — Where Do Tesla, Nvidia, Apple, DJT Stock Rank?

Oil prices kicked off the week with a notable rally, driven by OPEC+'s decision to postpone an anticipated production increase ahead of the <a href="https://www.benzinga.com/topic/2024-election">imminent U.S. presidential elections. </a>



The oil cartel and its allies, including Russia, opted to delay plans to ramp up output by another month, citing ongoing market weakness and sluggish demand.



On Monday, West Texas Intermediate (WTI) crude — as closely tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) — surged as much as 3% to hit $71.50 per barrel, its highest since Oct. 25, while Brent crude rose 2.7% to reach $75 per barrel.



See Also: <a href="https://www.benzinga.com/news/earnings/24/11/41709016/us-stocks-likely-to-open-in-green-amid-hints-of-tentativeness-on-election-eve-expert-says-brace-for">US Stocks Likely To Open In Green Amid Hints Of Tentativeness On Election Eve: Expert Says Brace For Volatility Ahead Of Fed&#8217;s Rate Decision</a>



These gains effectively erased last week&#8217;s losses, which followed Israel's limited response to Iran — a development that experts said reduced the risk of a broader conflict in the Middle East, providing temporary relief for oil markets.



OPEC+ announced on Sunday that it would maintain its production cut of 2.2 million barrels per day (bpd) through December. 



Originally, the group had planned to increase output by 180,000 bpd in December, but it conditioned this hike on favorable price conditions. 



The next formal meeting of OPEC+ ministers is scheduled for December 1, although the group has the flexibility to convene extraordinary meetings or alter its policies at any time.



<h3 class="wp-block-heading">US Sanctions Policy Could Shape Future Of Oil</h3>



The outcome of the upcoming U.S. presidential election could be crucial for the oil market, particularly with regard to sanctions policies that affect OPEC+ producers like Russia, Iran, and Venezuela. 



&#8220;After plummeting during the first Trump administration, production in Iran and Venezuela has recovered under President Joe Biden, with the focus of sanctions moving to Russia,&#8221; wrote S&amp;P Global. 



Combined, Iran and Venezuela pumped 4.15 million bpd in September, up from 3.2 million bpd in February 2022, according to Platts' OPEC+ Survey by Commodity Insights, as both countries are exempt from quotas under the OPEC+ agreement, allowing them to pump as much as they can. 



Sanctions policy is expected to remain a key factor influencing the global oil supply, particularly amid ongoing geopolitical tensions in Ukraine and the Middle East.



The Biden-Harris administration has imposed extensive sanctions on Russia, aiming to weaken its military capabilities and hinder its economic resources that support the ongoing war in Ukraine. These sanctions, coordinated with allies like the G7 and EU, target key areas, including Russia&#8217;s defense sector, critical supply chains, and financial networks.



However, Jim Burkhard, vice president of research at S&amp;P Global Commodity Insights, suggested that a second Donald Trump administration might be more inclined to <a href="https://www.benzinga.com/news/24/10/41303548/kremlin-critic-warns-russia-could-grow-stronger-if-trump-wins-white-house-will-basically-be-handing">loosen sanctions on Russia</a>. 



Both parties are likely to maintain pressure on Iran given its ongoing conflict with Israel.



<h3 class="wp-block-heading">US Energy ETFs To Watch Amid Rising Oil Prices</h3>



The surge in oil prices could buoy U.S. energy stocks, particularly those tied to exploration, production, and refining. Here are five key U.S. energy ETFs that may see gains as crude prices continue their upward trend:



<ul>
<li>Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), which had already risen by 1% during premarket trading in New York on Monday</li>



<li>SPDR S&amp;P Oil &amp; Gas Explor. &amp; Product ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>)</li>



<li>Invesco Oil &amp; Gas Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXJ#NYSE">PXJ</a>)</li>



<li>VanEck Oil Refiners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRAK#NYSE">CRAK</a>)</li>



<li>EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>)</li>
</ul>



Now Read:



<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/11/41709016/us-stocks-likely-to-open-in-green-amid-hints-of-tentativeness-on-election-eve-expert-says-brace-for">US Stocks Likely To Open In Green Amid Hints Of Tentativeness On Election Eve: Expert Says Brace For Volatility Ahead Of Fed&#8217;s Rate Decision</a></li>
</ul>



Image: Shutterstock

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DRLL

Oil Prices Spike By Over 3% As OPEC+ Delays Production Increases Ahead Of US Elections: 5 Energy ETFs To Watch Monday

Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares are volatile Monday as polls and prediction markets show a tight race with less than 48 hours to go in the <a href="https://www.benzinga.com/news/24/11/41710411/market-analyst-who-predicted-trumps-2016-win-and-bidens-2020-victory-now-sees-former-president-retak">U.S. presidential election. </a>



What To Know: Trump Media &amp; Technology stock has become a proxy for the presidential election outcome and the stock has dropped in the last week as the race draws to a close. Both polls and prediction markets turned away from a Trump win near the middle of last week and Trump Media shares slumped more than 20% as a result.&nbsp;



Polls: Though the election remains a very tight race, Harris has pulled ahead in polling of early voters in several swing states. New polling from the New York Times and Siena College shows Kamala Harris with an 8% lead among early voters while Donald Trump is ahead among voters who plan to vote but have not yet cast a ballot.&nbsp;



Read More: <a href="https://www.benzinga.com/general/politics/24/10/41630878/djt-short-squeeze-could-push-stock-to-60-if-trump-wins-but-analysis-says-loss-could-make-shares-">DJT Short Squeeze Could Push Stock To $60 If Trump Wins, But Analysis Says Loss Could Make Shares &#8216;Worthless&#8217;</a>



The poll also found Harris was <a href="https://www.benzinga.com/news/24/11/41708937/trump-trade-weakens-dollar-as-polls-indicate-race-tightening-with-kamala-harris">slightly ahead</a> in three swing states, with Trump leading in one while the other three swing states remain too close to call.



Nationally, Trump and Harris are neck-in-neck, both notching 49% of registered voters in a new poll released Sunday by NBC News.



Prediction Markets: <a href="https://www.benzinga.com/general/politics/24/11/41702729/harris-surges-in-prediction-markets-nabs-kalshi-lead-with-just-three-days-to-go">Harris took the lead</a> on the Kalshi prediction market late last week. That&#8217;s a major reversal from odds that showed Trump with a 65% chance of victory as recently as Tuesday afternoon. 



The Kalshi forecast now has odds in favor of Trump once again, with a 54.5% chance of regaining the White House. 



The PredictIt market shows Harris with a slightly higher chance of victory than Trump. Trump maintains his advantage on Polymarket, which has him with a 55% chance of victory, but that is down from a 67% chance five days ago.



The Election Betting Odds website, which aggregates betting markets, shows Trump pulling ahead with a 55% chance of victory and 44.6% for Harris.&nbsp;



Why It Matters: Investors will be watching closely as the polls close on Tuesday night. A recent report from S3 Partners suggested Trump Media shares <a href="https://www.benzinga.com/general/politics/24/10/41630878/djt-short-squeeze-could-push-stock-to-60-if-trump-wins-but-analysis-says-loss-could-make-shares-">could rocket higher</a> on a Trump victory based on the increased short squeeze potential and the options market's implied move of 50%.



Yet S3 Partners said the same model suggests that DJT stock &#8220;could become worthless" if Trump loses the election.&nbsp;



Read Also:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41690154/shock-october-jobs-report-leaves-fed-in-tight-spot-experts-say-interest-rate-cuts-a">Shock October Jobs Report Leaves Fed In &#8216;Tight Spot:&#8217; Experts Say Interest Rate Cuts Ahead</a></li>
</ul>



Image: Shutterstock

Cryptocurrency

News

Movers

General

Trump Media Stock Volatile On Election Eve As Polls, Betting Markets Predict Tight White House Race

NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) will be reporting its third-quarter earnings on Monday. Wall Street expects $3.43 in EPS and $3.25 billion in revenues as the company reports<a href="https://www.benzinga.com/calendars/earnings?tickers=NXPI" target="_blank" rel="noreferrer noopener"> after market hours</a>.



The Dutch semiconductor powerhouse, known for its innovative product lineup — including microcontrollers and the i.MX family of application processors — recently announced enhancements to its eIQ AI and machine learning development software. 



The new eIQ Time Series Studio and GenAI Flow tools are designed to simplify AI deployment across edge processors, further solidifying NXP's place in the tech landscape.



The stock is up 30.52% over the past year, 7.87% year-to-date.



Read Also: <a href="https://www.benzinga.com/insights/news/24/10/41339513/100-invested-in-nxp-semiconductors-10-years-ago-would-be-worth-this-much-today">$100 Invested In NXP Semiconductors 10 Years Ago Would Be Worth This Much Today</a>



Let&#8217;s look at what the charts indicate for NXPI stock and how the stock currently maps against Wall Street estimates.



<h2 class="wp-block-heading">NXPI Stock Chart Bearish Ahead Of Q3 Earnings&nbsp;</h2>



NXPI stock is riding a strongly bearish trend. Its share price of $238.59 remains below the five, 20 and 50-day Exponential Moving Averages (EMA), signaling sustained selling pressure.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="628" height="455" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04090515/Screenshot-2024-11-04-at-5.45.37-PM.png" alt="" class="wp-image-627875" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04090515/Screenshot-2024-11-04-at-5.45.37-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04090515/Screenshot-2024-11-04-at-5.45.37-PM-300x217.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>



<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>



However, the short-term technical picture is a mixed bag. With NXPI&#8217;s eight-day Simple Moving Average (SMA) at $242.78, a bearish tone prevails. Yet, the 20-day SMA sits just below the current price at $238.01, flashing a bullish signal, as does the 50-day SMA of $237.48, indicating a slight technical rebound. 



Conversely, the long-term 200-day SMA at $247.70 reinforces the broader bearish stance.



Supporting this mixed scenario, the Moving Average Convergence Divergence (MACD) indicator of 1.42 shows bullish momentum, while a Relative Strength Index (RSI) reading of 49.81, and declining, suggests that NXPI stock is headings towards being oversold. 



With indicators sending both bearish and bullish signals, NXP's chart implies potential upside for patient investors if buying pressure can overcome the current bearish trend.



<h2 class="wp-block-heading">NXPI Analysts See 13.85% Upside</h2>



Ratings &amp; Consensus Estimates:<a href="https://www.benzinga.com/quote/NXPI/analyst-ratings" target="_blank" rel="noreferrer noopener"> The consensus analyst rating</a> on NXPI stock stands at a Buy currently with a price target of $273. The latest analyst ratings from Stifel, Cantor Fitzgerald and UBS give NXP Semiconductors&#8217; stock an average price target of $271.67, implying a 13.85% upside.



Price Action: NXPI stock closed the trading day Friday at $238.59, up 1.74%.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/politics/24/10/41584466/these-10-stocks-were-the-best-s-p-500-performers-in-2017-when-trump-was-president-will-history-r">These 10 Stocks Were The Best S&amp;P 500 Performers In 2017 When Trump Was President: Will History Repeat Itself?</a></li>
</ul>



Image: NXP Semiconductors

Technicals

Previews

NXPI

NXP Semiconductors Prepares For Earnings With New AI Tools: But What Do The Charts Reveal?

U.S. stocks could get off to a positive start on Monday after the <a href="https://www.benzinga.com/news/earnings/24/11/41696201/market-volatility-soars-ahead-of-elections-tech-earnings-mixed-strikes-and-hurricanes-knock-employm">averages registered a mixed October</a>. While the S&amp;P 500 and Dow Jones snapped their five-month winning streak, the Nasdaq Composite closed in the green buoyed by <a href="https://www.benzinga.com/earnings">Big Tech earnings</a>.



America goes to polls on Tuesday to elect its 47th president, and data so far suggests that it will be a neck-to-neck race between Democratic candidate Kamala Harris and Republican nominee Donald Trump.



The Federal Open Market Committee, or FOMC, is also widely expected to deliver another rate cut this week, with CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a> suggesting there is a 96% chance that this will happen.



<figure class="wp-block-table"><table><tbody><tr><td>Futures</td><td>Performance (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.15%</td></tr><tr><td>S&amp;P 500</td><td>0.19%</td></tr><tr><td>Dow Jones</td><td>0.08%</td></tr><tr><td>R2K</td><td>-0.01%</td></tr></tbody></table></figure>



In premarket trading on Monday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) gained 0.20% to $572.21 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.22% to $488.50, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.



Cues From Last Week:



Oil prices continued to rebound after tanking the week before, amid delays in production output increase by the Organization of the Petroleum Exporting Countries, or OPEC.



Most sectors on the S&amp;P 500 closed on a negative note, with utilities, energy, and real estate stocks recording the biggest losses on Friday.



However, consumer discretionary and information technology stocks bucked the overall market trend, closing the session higher.



<figure class="wp-block-table"><table><tbody><tr><td>Index</td><td>Last Week&#8217;s Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-1.5%</td><td>18,518.61</td></tr><tr><td>S&amp;P 500</td><td>-1.4%</td><td>5,728.80</td></tr><tr><td>Dow Jones</td><td>-0.15%</td><td>42,052.19</td></tr><tr><td>Russell 2000</td><td>0.1%</td><td>2,210.13</td></tr></tbody></table></figure>



Insights From Analysts:



A Harris win could see the U.S. dollar weakening, according to ING analyst Francesco Pesole.



"Despite some unwinding of Trump trades, asset markets are still broadly pricing in a Trump win. As things stand now, we expect the dollar to sell off if Harris wins, while the impact of a Trump win may depend more on the Congress composition."



On the other hand, rate cut expectations seem to be unanimous among analysts, even though the Presidential race is neck-to-neck.



"On Thursday, when we may or may not know who the next President is going to be, we should almost certainly see a 25 basis points cut from the Fed and a reiteration from [Fed Chair] Powell that the Fed&#8217;s subsequent meetings will be data dependent," Deutsche Bank analyst Jim Reid in a research note.



Fed chair Jerome Powell's commentary would also be on the Street's radar as it looks for guidance on the central bank's rate action going forward.



&#8220;We look for Fed Chair Powell to once again be the voice of reason corralling the FOMC to prudently ease monetary policy,&#8221; said EY Chief Economist Gregory Daco.



Nathan Peterson, Director of Derivatives Analysis at the Schwab Center for Financial Research, laid <a href="https://www.schwab.com/learn/story/weekly-traders-outlook/">out</a> the thesis for market movements for the next week.



"My overall forecast for next week is &#8220;volatile and bearish.&#8221; What could challenge my outlook? If Election Results are not drawn out (meaning we have clarity on the winner following Election Day), or the Fed doesn&#8217;t provide a hawkish tone next Thursday, like I suspect they will, then stocks will likely rally."



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>



Upcoming Economic Data



Monday's economic calendar is light, but crucial economic data is scheduled for the rest of the week.



<ul>
<li>On Monday, factory order data will be released at 10 a.m. ET.</li>



<li>On Tuesday, U.S. trade deficit data will be released at 8:30 a.m. ET.</li>



<li>ISM services data will be released at 10 a.m. ET.</li>



<li>On Wednesday, S&amp;P will release the final U.S. services purchasing manager's index (PMI) at 9:45 a.m. ET.</li>



<li>On Thursday, initial jobless claims data and preliminary productivity numbers will be released at 8:30 a.m. ET.</li>



<li>Wholesale inventories data will be released at 10 a.m. ET.</li>



<li>FOMC will announce its rate decision at 2 p.m. ET.</li>



<li>Fed Chair Powell will address a press conference at 2:30 p.m. ET.</li>



<li>On Friday, preliminary consumer sentiment data will be released at 10 a.m. ET.</li>



<li>Fed Governor Michelle Bowman will speak about banking regulations at 11 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) will be in focus on election eve. The stock experienced increased volatility last week and fell over 27%.</li>



<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares will be in focus on Monday after the Elon Musk-led EV giant saw its China sales decline in October.</li>



<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) will join the Dow Jones Industrial Average this week, replacing Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and ending its 25-year run.</li>



<li>Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) largest shareholder, the Warren Buffett-led Berkshire Hathaway, pared its stake in the iPhone maker by 25% in the July-September quarter.</li>



<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) machinists are set to vote on the new proposed deal that could bring an end to a seven-week-long strike.</li>



<li>Investors are awaiting earnings results from Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), Marriott International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>), and Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>) today.</li>
</ul>



Commodities, Bonds And Global Equity Markets:



Crude oil futures surged in the early New York session, rising by over 3% after OPEC announced a delay in increasing production.



The 10-year Treasury note yield eased marginally to 4.285%.



Major Asian markets ended in the green on Monday, and European stocks showed strength as well in early trading.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41704748/tesla-investors-confuse-valuation-and-stock-price-says-gary-black-as-investor-sees-recovery-in-s">Tesla Investors Confuse &#8216;Valuation And Stock Price,&#8217; Says Gary Black As Investor Sees Recovery In Stock</a></li>
</ul>



Photo courtesy: Wikimedia

Earnings

Futures

Federal Reserve

Pre-Market Outlook

Markets

WYNN

US Stocks Likely To Open In Green Amid Hints Of Tentativeness On Election Eve: Expert Says Brace For Volatility Ahead Of Fed's Rate Decision

On Friday, November 1st, U.S. markets closed higher, rebounding from Thursday&#8217;s drop as Amazon&#8217;s strong earnings provided a boost despite weak October job growth in the U.S.



Amazon&#8217;s solid retail sales helped offset investor worries, while Apple faced pressure due to declining China sales. Other tech giants, including Meta and Microsoft, had reported earnings with caution over AI infrastructure costs, impacting the Nasdaq earlier.



Economic data showed that the U.S. economy added 2,000 jobs, a notable drop from the revised 223,000 positions added in September and falling short of the anticipated 113,000. Average hourly wages rose by 0.4% to $35.46, while the unemployment rate held steady at 4.1%.



The majority of S&amp;P 500 sectors ended down Friday, led by losses in utilities, energy, and real estate, while consumer discretionary and tech stocks closed higher.



The Dow Jones Industrial Average gained 0.69% to close at 42,052.19, the S&amp;P 500 rose 0.41% to 5,728.80, and the Nasdaq Composite increased 0.80% to finish at 18,239.92.



Asia Markets Today



<ul>
<li>Japan Markets closed for the Culture Day holiday.</li>



<li>On Monday, Australia&#8217;s S&amp;P/ASX 200 gained 0.56% and ended the day at 8,164.60, led by gains in the IT, Utilities, and Telecoms Services sectors.</li>



<li>India&#8217;s Nifty 50 traded lower by 1.29% at 23,989.65, and the Nifty 500 was down 1.38% at 22,508.65.</li>



<li>China&#8217;s Shanghai Composite rose 1.17% to close at 3,310.21, and the Shenzhen CSI 300 gained 1.41%, finishing the day at 3,944.76.</li>



<li>Hong Kong&#8217;s Hang Seng gained 0.30% and closed the session at 20,567.52.</li>
</ul>



Eurozone at 05.45 AM ET



<ul>
<li>The European STOXX 50 index was up 0.27%.</li>



<li>Germany&#8217;s DAX gained 0.15%.</li>



<li>France&#8217;s CAC rose 0.40%.</li>



<li>U.K.&#8217;s FTSE 100 index traded higher by 0.63%.</li>
</ul>



Commodities at 05.45 AM ET



<ul>
<li>Crude Oil WTI was trading higher by 2.33% at $71.10/bbl, and Brent was up 2.19% at $74.70/bbl.</li>



<li>Oil prices rose as OPEC+ postponed its planned output increase, signaling support amid weak demand. This gain occurs as markets prepare for a significant week, with the U.S. presidential election, potential Federal Reserve rate cuts, and key economic decisions from China&#8217;s Congress.</li>



<li>Natural Gas declined 1.01% at $2.636.</li>



<li>Gold was trading higher by 0.07% at $2,751.15, Silver gained 0.65% to $32.883, and Copper rose 0.87% to $4.4095.</li>
</ul>



U.S. Futures at 05.45 AM ET



Dow futures were up 0.09%, S&amp;P 500 futures gained 0.22%, and Nasdaq 100 Futures rose 0.21%.



Forex at 05.45 AM ET



<ul>
<li>The U.S. dollar index fell 0.54% to 103.72, the USD/JPY was down 0.76% to 151.82, and the USD/AUD gained 0.30% to 1.5169.</li>



<li>The dollar fell as markets reacted to a surprise poll showing Kamala Harris leading, boosting investor sentiment for continuity. Uncertainty surrounding the close U.S. election and potential Fed rate cut also contributed to caution in currency markets.</li>
</ul>



Photo by Pavel Bobrovskiy via Shutterstock

Asia

Emerging Markets

Eurozone

Forex

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

EEMA

FLAX

IEMG

IEUR

KDIV

SPEM

USDU

Asia Mixed, Europe Market Gains In US Election Week; Crude Oil Up 2% - Global Markets Today While US Slept

Gary Black, managing partner at The Future Fund, shared his outlook on Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), stressing that "many TSLA investors still conflate valuation and stock price."



What Happened: In response to Tesla's electric vehicle price cuts in October 2022, The Future Fund reduced its Tesla earnings estimates and price target, expecting minimal volume growth. 



Black noted, "We cut our TSLA position from 12.2% in Oct 2022 to ~4%," a decision validated as Wall Street's 2024 earnings per share estimate for Tesla fell 60% over the past two years, pulling down valuations and stock price.



Looking ahead, Black sees an opportunity as Tesla prepares to launch a compact EV priced between $25,000 and $30,000, aimed at boosting its total addressable market.



"Analysts are again starting to increase TSLA EPS estimates," he explained, a trend he believes will positively impact Tesla's valuation and stock price.



Contrary to popular assumptions, Black emphasized that his price target "changes as our fundamental outlook changes," not based on stock price movements. As Tesla's gross margins stabilize, Black anticipates a stock rebound, predicting that as "TSLA earnings estimates continue to recover," the stock price should follow suit.



&#8220;We expect [Tesla] stock to continue to recover as TSLA earnings [estimates] continue to recover,&#8221; Black wrote.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Many <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> investors still conflate valuation and stock price. When <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> started cutting EV prices back in Oct 2022, we cut our TSLA earnings estimates and TSLA valuation (i.e. price target) to reflect our view that TSLA would get little or no volume growth from the price cuts,… <a href="https://t.co/tROOTNStxp">pic.twitter.com/tROOTNStxp</a>&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1853151545057247335?ref_src=twsrc%5Etfw">November 3, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41649350/as-microsoft-meta-slide-after-earnings-calls-jim-cramer-says-hyperscalers-are-not-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">As Microsoft, Meta Slide After Earnings Calls, Jim Cramer Says &#8216;Hyperscalers Are Not Warning About Worsening AI Losses&#8217;</a>



Why It Matters: Black&#8217;s comments come at a time when Tesla is making significant strides in its autonomous driving technology. Despite <a href="https://www.benzinga.com/news/24/11/41699028/tesla-investor-says-ev-giant-will-admit-it-needs-lidar-despite-elon-musk-calling-it-a-crutch">initially dismissing the need for Lidar</a>, the company is now reportedly considering its use.



Additionally, Tesla&#8217;s <a href="https://www.benzinga.com/news/24/10/41651786/tesla-to-expand-actually-smart-summon-feature-beyond-us-eyeing-europe-and-china-rollout">plans to expand its &#8216;Actually Smart Summon&#8217; feature</a> beyond the U.S. and its <a href="https://www.benzinga.com/news/24/11/41676465/tesla-can-make-cybercab-for-the-same-money-it-takes-waymo-to-install-lidar-sensors-on-its-robotaxi-s">cost-efficient Cybercab production</a> are indicative of the company&#8217;s commitment to innovation and growth.



Despite these advancements, Tesla has faced stiff competition from Chinese EV giant BYD, which <a href="https://www.benzinga.com/news/24/10/41647639/teslas-chinese-rival-byd-outshines-elon-musks-ev-giant-in-quarterly-revenue-for-first-time-since-202">recently outperformed Tesla in quarterly revenue</a> for the first time since 2022. This has raised questions about Tesla&#8217;s ability to maintain its market dominance in the face of increasing competition.



Price Action: Tesla Inc.&#8217;s stock closed at $248.98 on Friday, down 0.35% for the day. In after-hours trading, the stock edged up by 0.16%. Year-to-date, Tesla shares have increased by 0.23%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41686435/intel-says-it-wont-even-make-500m-from-gaudi-ai-chips-in-2024-despite-nvidia-minting-billions-ce?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Intel Says It Won&#8217;t Even Make $500M From Gaudi AI Chips In 2024 Despite Nvidia Minting Billions: CEO Gelsinger Says Uptake &#8216;Slower Than We Anticipated&#8217;</a></li>
</ul>



Image Via Shutterstock 



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Tesla Investors Confuse 'Valuation And Stock Price,' Says Gary Black As Investor Sees Recovery In Stock

Leading cryptocurrencies retraced over the weekend as the probability of Donald Trump winning the presidential election fell sharply in prediction markets.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. EDT)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-1.21%</td><td>$68,324.16</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.93%</td><td>$2,438.68</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-4.17%</td><td>$0.1519</td></tr></tbody></table></figure>



What Happened: Bitcoin slipped to a low of $67,500 in the morning hours, a sharp reversal from its near-new highs last week. The leading cryptocurrency recovered to $68,000 late evening.



The pullback looked to be associated with Trump&#8217;s <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1730683254450">declining </a>odds on prediction markets, including Polymarket, which gave him a 54% chance of winning, down from 66% on Oct. 30.



Total cryptocurrency liquidations blasted above $362 million over the last 24 hours, with $264 million in leveraged longs getting wiped out.



Bitcoin's Open Interest rose 1.45% in the last 24 hours. An increase in OI, coming alongside a dip in price, indicated a surge in short selling.



Additionally, more than 61% of all derivatives traders with open positions were short on Bitcoin, according to the Long/Short Ratio.



That said, the market sentiment remained in the "Greed" category, as per the Cryptocurrency Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. EDT)</td></tr><tr><td>Immutable (IMX)</td><td>+2.63%</td><td>$1.10</td></tr><tr><td>Chainlink (LINK)</td><td>+0.98%</td><td>$156.80</td></tr><tr><td>Sui (SUI)</td><td>+0.56%</td><td>$1.92</td></tr></tbody></table></figure>



The global cryptocurrency stood at $2.28 trillion, following a contraction of 1.05% in the last 24 hours.



Stock futures slipped during overnight trading on Sunday. The Dow Jones Industrial Average Futures dipped 151 points, or 0.37%, as of 7:35 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 lost 0.19%, while Nasdaq 100 Futures were down 0.10%.



Investors braced for the high-stakes Nov. 5 presidential election between Trump and Kamala Harris with no clear favorite on <a href="https://www.benzinga.com/general/politics/24/11/41702729/harris-surges-in-prediction-markets-nabs-kalshi-lead-with-just-three-days-to-go">betting markets</a> and <a href="https://www.benzinga.com/general/politics/24/10/41667786/harris-vs-trump-vice-presidents-lead-shrinks-key-demographic-grows-one-week-before-2024-election">national polls</a>.



The other major event to watch is the Federal Reserve&#8217;s FOMC meeting on November 7, with traders pricing in a 25 basis point rate drop, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: CrediBULL Crypto, a popular X account known for providing cryptocurrency trading insights, observed Bitcoin&#8217;s &#8220;constructive&#8221; lower-timeframe trajectory and that the leading cryptocurrency was forming a bottom before a push to new highs.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Lower timeframes looking very constructive here- <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> looks to be forming a bottom here for that push to ATH. The yellow line on my chart that we tapped to mark our pico bottom is a very important retest level- if you want to know where it came from zoom out to the monthly… <a href="https://t.co/XVNmyEAmif">https://t.co/XVNmyEAmif</a> <a href="https://t.co/JVF3F97ZF6">pic.twitter.com/JVF3F97ZF6</a>&mdash; CrediBULL Crypto (@CredibleCrypto) <a href="https://twitter.com/CredibleCrypto/status/1853198498633551915?ref_src=twsrc%5Etfw">November 3, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Contrary to the market's bearish view, widely followed cryptocurrency trader Nihilus believed Ethereum's bull run to begin after the elections.&nbsp;



"Many people think ETH will drop due to the liquidity levels below, but the market maker doesn't think so. Last year around this time, nobody was saying ETH would reach $2,000, and now almost no one is saying that ETH is preparing for a bull season," the trader remarked.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Many people think <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> will drop due to the liquidity levels below, but the market maker doesn't think so. Last year around this time, nobody was saying <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> would reach $2,000, and now almost no one is saying that <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is preparing for a bull season. After the election, the… <a href="https://t.co/JgQ9T1G2BD">pic.twitter.com/JgQ9T1G2BD</a>&mdash; Nihilus (@nihilus_XBT) <a href="https://twitter.com/nihilus_XBT/status/1852766433203118115?ref_src=twsrc%5Etfw">November 2, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by Igor Faun on Shutterstock



Read Next:    



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41424841/donald-trumps-polymarket-odds-rise-to-61-3-after-mcdonalds-appearance">Donald Trump&#8217;s Polymarket Odds Rise To 61.3% After McDonald&#8217;s Appearance</a></li>
</ul>

$BTC

$DOGE

Bitcoin, Ethereum, Dogecoin Reverse As Trump's Odds Fall On Betting Markets: Trader Says 'Bull Run Will Begin' For This Crypto After The Election

In a recent interview with NBC News, former President Donald Trump has shown tentative support for Robert Kennedy Jr.&#8217;s plan to remove fluoride from water.



What Happened: When asked about Kennedy&#8217;s proposal, Trump responded, &#8220;Well, I haven't talked to him about it yet, but it sounds OK to me." Kennedy, a former independent presidential candidate who endorsed Trump, has been known to propagate health-related conspiracies, <a href="https://thehill.com/homenews/state-watch/4969032-trump-rfk-jr-fluoride-water-supply/">reported</a> The Hill.



Kennedy stated on Saturday, on X, that if Trump wins the upcoming election, his administration would encourage all U.S. water systems to eliminate fluoride from public water on its first day in office. He associated fluoride, an industrial waste, with various health issues including arthritis, bone fractures, and neurodevelopmental disorders. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">On January 20, the Trump White House will advise all U.S​. water systems to remove fluoride from public water. Fluoride is an industrial waste associated with arthritis, bone fractures, bone cancer, IQ loss, neurodevelopmental disorders, and thyroid disease. President…&mdash; Robert F. Kennedy Jr (@RobertKennedyJr) <a href="https://twitter.com/RobertKennedyJr/status/1852812012478398923?ref_src=twsrc%5Etfw">November 2, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



However, the Centers for Disease Control and Prevention (CDC) argues that fluoride strengthens teeth and reduces cavities. It has been added to drinking water at low levels and is considered a significant public health achievement in the past century.



While Trump has not confirmed whether Kennedy would be part of his Cabinet if he wins the 2024 election, Kennedy stated that Trump promised him a role in the White House and control of public health agencies.



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41694948/trump-polymarket-whale-has-30m-bet-on-former-president-winning-2024-election-my-intent-is-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Polymarket Whale Has $30M Bet On Former President Winning 2024 Election: &#8216;My Intent Is Just Making Money&#8217;</a>



Why It Matters: The relationship between Trump and Kennedy has evolved over recent months. In August, after securing Kennedy's endorsement, Trump welcomed him at an <a href="https://www.benzinga.com/news/24/08/40540235/after-securing-endorsement-from-rfk-jr-for-his-2024-presidential-bid-donald-trump-welcomes-kennedy-a">Arizona campaign rally</a>, commending Kennedy&#8217;s "extraordinary" presidential campaign and emphasizing their shared values.



In September, Kennedy revealed that Trump might <a href="https://www.benzinga.com/news/24/09/40931166/robert-kennedy-jr-trump-wants-him-to-help-pick-cdc-fda-and-nih-leaders-unravel-the-capture-of-agenci">appoint him to select leaders</a> for key public health agencies if he wins a second term. 



In October, Trump pledged to give Kennedy <a href="https://www.benzinga.com/news/24/10/41565423/trump-says-robert-kennedy-jr-can-run-wild-on-health-and-food-im-going-to-let-him-go-wild-on-the-medi">full authority over health, food, and medicine issues</a> if he secures a second term.



Image Courtesy: Flickr.



Did You Know?



<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Robert Kennedy Jr. Says He Will Advise All US Water Systems To Remove Fluoride On Day 1 Of Trump Administration — Ex-President: 'Sounds OK To Me'

Billionaire investor and entrepreneur Mark Cuban says that the potential of AI could offer the ideal side hustle for teenagers.



What Happened: Cuban suggested that if he were a teenager today, he would venture into an artificial intelligence side hustle.



He <a href="https://www.cnbc.com/2024/10/22/mark-cuban-if-i-was-a-teenager-again-id-start-this-ai-side-hustle.html">proposed</a> a three-step strategy during a CNBC interview: mastering the art of writing prompts for AI language models, teaching peers to utilize these prompts for school assignments, and then extending these services to small and medium-sized enterprises that are yet to leverage AI.



"Then, I would go to businesses, particularly small- to medium-sized businesses that don't understand AI yet. Doesn't matter if I'm 16, I'd be teaching them as well," Cuban told the outlet. 



A LendingTree <a href="https://www.lendingtree.com/debt-consolidation/young-side-hustles-survey/">report</a> indicates that more than half of Gen Zers in the U.S. are currently engaged in side hustles. AI prompt engineering, which involves crafting queries to chatbots to elicit specific responses, can be a profitable opportunity.



As per ZipRecruiter, the average remuneration for AI tutors begins at around $30,000 annually, while full-time AI prompt engineers can earn up to $129,500.



Also Read: <a href="https://www.benzinga.com/news/24/10/41196856/heres-how-mark-cubans-drunken-splurge-of-125-000-turned-into-a-profitable-investment">Mark Cuban Drunkenly Bought A $125,000 Lifetime Flight Pass And Turned It Into A Profitable Investment</a>



Although a college degree is not a prerequisite to become an AI prompt engineer, practice and often certifications are essential to comprehend how large language models function. 



Online certification programs from institutions like Vanderbilt University or IBM can aid in mastering the basics within a month.



Why It Matters: Cuban&#8217;s entrepreneurial journey began with selling garbage bags door-to-door at the age of 12. He later sold collectibles to earn extra money, which aided him in financing his education at Indiana University. 



After a brief period in the banking sector post-college, Cuban ventured into entrepreneurship, selling his first company, MicroSolutions, for $6 million in 1990. 



His second venture, Broadcast.com, was sold to Yahoo for $5.7 billion in 1999, catapulting him into the billionaire&#8217;s club.



Read Next



<a href="https://www.benzinga.com/top-stories/24/06/39241650/heres-how-mark-cuban-made-91-of-his-employees-millionaires" target="_blank" rel="noreferrer noopener">Here's How Mark Cuban Made 91% Of His Employees Millionaires</a>



This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Success Stories

Mark Cuban's Million-Dollar Advice To Teens: 'If I Were 16 Again, I'd Start This Lucrative Side Hustle'

A Republican member of the Federal Communications Commission says that Kamala Harris&#8216; cameo appearance on &#8220;Saturday Night Live&#8221; this weekend <a href="https://www.benzinga.com/news/24/08/40667209/trump-vs-harris-new-polls-reveal-this-candidate-is-outperforming-in-swing-states">violated the &#8220;equal time&#8221; rule</a>.



What Happened: FCC Commissioner Brendan Carr, who was appointed by Donald Trump, expressed his concerns on social media platform X two hours before Harris&#8217; appearance.



Carr said that Harris&#8217; appearance was a &#8220;clear and blatant effort to evade the FCC's Equal Time rule.&#8221;



Carr elaborated that the rule is intended to curb &#8220;biased and partisan conduct&#8221; by broadcasters, who should not exploit public airwaves to favor one candidate over another. The rule provides rival candidates the opportunity to request equal air time.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is a clear and blatant effort to evade the FCC&#39;s Equal Time rule. The purpose of the rule is to avoid exactly this type of biased and partisan conduct &#8211; a licensed broadcaster using the public airwaves to exert its influence for one candidate on the eve of an election.… <a href="https://t.co/LliZF0po9t">https://t.co/LliZF0po9t</a>&mdash; Brendan Carr (@BrendanCarrFCC) <a href="https://twitter.com/BrendanCarrFCC/status/1852887210330341693?ref_src=twsrc%5Etfw">November 3, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div><figcaption class="wp-element-caption">Also Read: <a href="https://www.benzinga.com/news/24/11/41702887/harris-takes-lead-in-red-state-iowa-in-shock-poll">Harris Takes Lead In Red State Iowa In Shock Poll</a></figcaption></figure>



During the show&#8217;s cold open, Harris appeared alongside Maya Rudolph, who plays Harris on the show. Trump was the show&#8217;s guest host in 2015, after he declared his candidacy for the Republican presidential nomination, and Hillary Clinton made a cameo in October of that same year. &#8220;SNL&#8221; executive producer Lorne Michaels had previously announced that neither Harris nor Trump would appear on the show during the election cycle, citing &#8220;election laws and the equal time provisions.&#8221;



Sen. Tim Kaine (D-Va.), Clinton&#8217;s 2016 running mate, also made an appearance on Saturday&#8217;s show. Kaine is seeking re-election to the Senate this week.



Why It Matters: The FCC&#8217;s &#8220;equal time&#8221; rule is a crucial component of election laws, designed to ensure fair and unbiased coverage of candidates. 



Carr&#8217;s accusation against Harris raises questions about the application of this rule and the role of broadcasters in maintaining political neutrality.



The controversy also highlights the potential influence of popular media platforms like &#8220;SNL&#8221; on public opinion during election cycles.



Read Next



<a href="https://www.benzinga.com/news/24/09/40669286/harris-vs-trump-this-candidate-leading-in-numerous-polls-transforming-political-landscape" target="_blank" rel="noreferrer noopener">Harris Vs Trump: This Candidate Leading in Numerous Polls, Transforming Political Landscape</a>



This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

FCC Commissioner: Harris 'SNL' Cameo Violated Equal Time Rule

The past week has been a whirlwind of economic debates, election predictions, and market uncertainties. From the public dispute between economist&nbsp;Justin Wolfers&nbsp;and Republican vice presidential candidate&nbsp;JD Vance&nbsp;over inflation and grocery prices to warnings about the potential inflationary impact of a Republican sweep in the upcoming elections, the week was rife with speculation and anticipation. 



Here&#8217;s a quick recap of the top stories.



Wolfers Challenges Vance&#8217;s Inflation Promise



Economist Justin Wolfers publicly disputed claims made by JD Vance regarding the impact of former President Donald Trump&#8217;s policies on inflation and grocery prices. Vance had asserted that Trump would lower grocery prices and secure the southern border, a claim Wolfers countered by stating that economists anticipate Trump's plans would lead to a significant inflation increase.



<a href="https://www.benzinga.com/news/24/10/41593510/economist-justin-wolfers-challenges-jd-vances-inflation-promise-couldnt-find-a-single-economist-who">Read the full article here.</a>



Republican Sweep Could Increase Inflation, Economists Warn



As the U.S. heads into the elections on Nov. 5, economists warn that a Republican victory across the White House and Congress could significantly increase inflationary pressures. The impact, they say, would stem primarily from higher tariffs, a swelling budget deficit, and restricted immigration policies.



<a href="https://www.benzinga.com/government/24/11/41695926/a-republican-sweep-might-be-the-most-inflationary-election-outcome-economists-warn">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/news/earnings/24/11/41692530/tech-stocks-surge-but-s-p-500-faces-second-weekly-decline-amazon-rallies-bitcoin-drops-below-70-000?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tech Stocks Surge But S&amp;P 500 Faces Second Weekly Decline, Amazon Rallies, Bitcoin Drops Below $70,000</a>



Trump Tariffs Could Slow Global Growth, Warns Temasek



Singapore's state-owned investment firm Temasek cautioned that a potential re-election of former President Donald Trump could lead to a slowdown in global growth, impacting U.S. companies and financial markets. Rohit Sipahimalani, Chief Investment Officer at Temasek International, expressed concerns about the long-term impact of a Trump presidency on the global economy.



<a href="https://www.benzinga.com/markets/equities/24/10/41592365/trump-tariffs-will-be-negative-not-just-for-emerging-markets-but-across-the-world-says-singapore">Read the full article here.</a>



Fed Interest Rate Cuts Expected Amid Cooling Inflation



A 0.25% interest rate cut at the Federal Reserve's Nov. 7 meeting is almost fully priced in by markets, with another similar cut likely in December as cooling inflation allows the Fed to gradually ease its policy stance. The latest inflation data from September showed a deceleration that aligns with the Fed&#8217;s 2% target.



<a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41658542/fed-interest-rate-cuts-expected-but-economists-warn-of-bumpy-course-in-this-last-">Read the full article here.</a>



Shock October Jobs Report Leaves Fed In &#8216;Tight Spot&#8217;



The October employment report released Friday morning showed the U.S. economy added only 12,000 jobs in October, well below estimates of 113,000. Economists are weighing in on the impact of the hurricanes on the report and the potential for future interest rate cuts. Jeffrey Roach, chief economist for LPL Financial, sees the Fed cutting rates at its next two meetings as economic conditions weaken.



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41690154/shock-october-jobs-report-leaves-fed-in-tight-spot-experts-say-interest-rate-cuts-a">Read the full article here.</a>



Read Next:



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41605605/gold-hits-record-highs-defies-market-gravity-why-the-precious-metal-is-decoupling-f?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gold Hits Record Highs, Defies Market Gravity: Why The Precious Metal Is Decoupling From Treasury Yields</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Inflation Fears, Election Outcomes, And Market Uncertainties: This Week In Economics

The week was a whirlwind of AI-related news, with major companies like Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), OpenAI, and Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) making headlines. From AI-driven hiring strategies to bold predictions about the future of AI, the weekend was a testament to the growing influence of artificial intelligence in various sectors.



<h3 class="wp-block-heading">Chipotle Leverages AI To Boost Hiring Efficiency</h3>



Interim CEO of Chipotle Mexican Grill, Scott Boatwright, revealed that the company is using AI to reduce hiring time by 75% during the busy &#8216;Burrito Season&#8217;. The company&#8217;s initiatives to improve service times have significantly boosted revenue growth.



<a href="https://www.benzinga.com/news/24/10/41615835/chipotle-is-using-an-ai-tool-to-slash-hiring-time-by-75-during-busy-burrito-season">Read the full article here.</a>



<h3 class="wp-block-heading">Elon Musk Foresees AI Matching Human Capabilities</h3>



Tesla CEO Elon Musk predicted that AI could reach human-level capabilities by 2029. Musk highlighted that AI is advancing at an impressive rate, improving roughly tenfold each year.



<a href="https://www.benzinga.com/news/24/10/41618261/elon-musk-predicts-ai-will-match-human-capabilities-in-few-years-the-cup-is-80-full-maybe-90">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/news/24/11/41698648/elon-musks-x-reportedly-hit-with-new-wave-of-layoffs-engineering-department-faces-major-cuts-amid-un?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s X Reportedly Hit With New Wave Of Layoffs: Engineering Department Faces Major Cuts</a>



<h3 class="wp-block-heading">Nvidia Executive Predicts AI Taking Human Form</h3>



A top executive at Nvidia believes AI will soon take on a "human form." Masataka Osaki, the Vice President of Worldwide Field Operations at Nvidia, made this bold prediction at the Global Management Dialogue event in Tokyo.



<a href="https://www.benzinga.com/markets/equities/24/10/41591438/nvidias-executive-says-ai-will-soon-take-human-form-the-machine-is-to-the-body-what-ai-is-to-the">Read the full article here.</a>



<h3 class="wp-block-heading">OpenAI Challenges Google With Chatgpt Search</h3>



OpenAI announced that its flagship product, ChatGPT, is now capable of crawling the web for up-to-date news, sports scores, stock quotes, and more, posing a potential challenge to Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) search dominance.



<a href="https://www.benzinga.com/news/24/10/41663190/openai-rolls-out-chatgpt-search-google-shares-slide">Read the full article here.</a>



<h3 class="wp-block-heading">Intel&#8217;s Gaudi AI Chips Fall Short Of Revenue Targets</h3>



Intel CEO Pat Gelsinger revealed that the Gaudi AI accelerator program will fall short of revenue targets due to a transition from second to third generation.



<a href="https://www.benzinga.com/markets/equities/24/11/41686435/intel-says-it-wont-even-make-500m-from-gaudi-ai-chips-in-2024-despite-nvidia-minting-billions-ce">Read the full article here.</a>



Read Next:



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41678522/jim-cramer-warns-apple-stock-should-have-never-been-up-that-much-after-q3-earnings-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Warns Apple Stock Should Have &#8216;Never Been Up That Much&#8217; After Q3 Earnings</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

GOOG

GOOGL

Chipotle's Hiring, Musk's Predictions, And Nvidia's Human-Like AI: This Week In Artificial Intelligence

The past week has been a rollercoaster ride in the world of cryptocurrency and politics. Trump-themed meme coins are making waves with impressive gains, leaving popular cryptos like Dogecoin and Shiba Inu in the dust. Meanwhile, the 2024 U.S. presidential race is heating up, with the odds favoring Donald Trump over Kamala Harris. In the crypto sphere, Bitcoin broke the $70k mark, and Gen-Z is redefining financial freedom. Let&#8217;s dive into the details.



Trump-Themed Meme Coins Rally



Tokens like Maga Memecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>), MAGA Hat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MAGA</a>), and Donald Tremp (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TREMP</a>) experienced a surge on Monday, thanks to Trump&#8217;s increasing election odds. Data from Coinmarketcap showed these political meme coins nearing a total market cap of $700 million, up 11% in just 24 hours. Trump currently holds a 66.1% chance of winning, with Kamala Harris trailing at 33.9%, according to Polymarket traders.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41580519/trump-themed-meme-coins-ripping-higher-with-gains-of-over-20-leaving-dogecoin-shiba-inu-si">Read the full article here.</a>



Nate Silver&#8217;s Election Forecast



American statistician Nate Silver sees the 2024 U.S. presidential race as &#8220;a near coin flip,&#8221; with Trump narrowly leading Harris. As of Oct. 31, Silver&#8217;s forecast gives Trump a 53.4% chance of winning, compared to Harris&#8217;s 46.2%. This tight margin underscores the intense polarization and competitiveness of this election.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41687739/nate-silver-says-kamala-harris-may-need-backup-plans-if-the-blue-wal-is-split-but-sees-the">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41644730/shytoshi-kusama-schools-x-user-who-said-shib-will-remain-chump-change-meme-unless-it-can-r?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shytoshi Kusama Schools X User Who Said SHIB Will Remain &#8216;Chump Change Meme&#8217; Unless It Can Rise Above A Penny</a>



Gen-Z&#8217;s Path to Financial Freedom



According to Chamath Palihapitiya, Gen Z is decoupling financial freedom from traditional 9-5 jobs. Palihapitiya noted that an increasing number of young men are engaging in side activities such as trading cryptocurrencies like Bitcoin BTC/USD and options on platforms like Robinhood and Coinbase. This shift signifies a departure from the traditional notion that wealth is primarily earned through one's job.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41575679/chamath-palihapitiya-says-gen-z-has-decoupled-financial-freedom-from-traditional-9-5-jobs-">Read the full article here.</a>



Bitcoin Breaks $70K



Leading cryptocurrencies surged Monday, with Bitcoin breaking through $70,000 after an almost five-month hiatus. The world&#8217;s largest cryptocurrency breached this elusive level late evening, building on the positive momentum from the weekend. Ethereum also sailed to $2,585 after shifting sideways for the early part of the day.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41590577/bitcoin-breaks-70k-ethereum-and-dogecoin-rise-amid-stock-rally-ahead-of-mag-7-earnings-ana">Read the full article here.</a>



Cat-Themed Coins Rally



Cat-themed coins like Mog Coin MOG/USD and Popcat POPCAT/USD rallied on Tuesday as the broader altcoin market cheered Bitcoin&#8217;s BTC/USD leap above $70,000. Coinmarketcap data showed cat-themed tokens coins approaching a total market capitalization of $5 billion, up 9.3% over 24 hours. Meme coin trader meme-millions predicted cat coins could reach a valuation of $20–$50 billion.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41598248/mog-coin-popcat-outshine-dogecoin-shiba-inu-as-bitcoin-leapfrogs-71-000-buy-the-cats-and-w">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41635489/bitcoin-ethereum-dogecoin-dip-after-strong-tuesday-analysts-predict-unprecedented-highs-ca?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Dip After Strong Tuesday—Analysts Predict &#8216;Unprecedented Highs Can Be In Development&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock



 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

$TREMP

Trump Meme Coins Soar, Bitcoin Breaks $70K, Cat-Themed Coins Rally And More: This Week In Crypto

The U.S. stock market experienced a setback at the end of October, breaking a five-month winning streak as election uncertainties and mixed tech <a href="https://www.benzinga.com/earnings">earnings dampened risk sentiment</a>.



A key measure of market turbulence, the CBOE Volatility Index, or VIX, surged by 34% last month, marking the third-largest increase for an October <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41665265/vix-index-notches-third-strongest-october-spike-in-an-election-year-s-p-500-snaps-5">in an election year.</a>



Tech giants' earnings were underwhelming, except for Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). None of the other &#8220;Magnificent Seven&#8221; companies posted positive weekly performance. As a result, the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) fell nearly 2% for the week. This marks the worst weekly performance in two months.



Among mega-cap companies, the top performers for the week were Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) and Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), both rising approximately 9%. Booking also marked the strongest weekly gains since August 2022. 



The main laggards were Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), down 9% and 8%, respectively, for the week. 



On the macroeconomic front, the U.S. economy saw a surprising slowdown in job growth in October, with <a href="https://www.benzinga.com/news/econ-s/24/11/41684710/us-economy-adds-only-12-000-jobs-in-october-sharply-misses-estimates-as-hurricane-strikes-pummel-hir">nonfarm payrolls increasing by just 12,000</a>—nearly a four-year low and well below the expected 113,000.



Factors such as hurricanes and strikes likely contributed to the hiring slowdown, while unemployment held relatively steady, indicating no significant rise in layoffs.



The labor market report has strengthened expectations for Federal Reserve rate cuts. Markets are fully pricing in a 25-basis-point cut at Thursday's meeting and assigning an 85% probability to a similar cut at the Fed&#8217;s final meeting of the year in of December.



<h3 class="wp-block-heading">State Betting Odds</h3>



As the 2024 U.S. presidential election approaches, state-by-state betting odds reveal a tight race between Donald Trump and Kamala Harris, with key battleground states like Pennsylvania, Michigan, and Arizona showing narrow margins, making them pivotal <a href="https://www.benzinga.com/general/sports-betting/24/10/41589659/trump-vs-harris-state-by-state-2024-election-betting-odds-which-candidate-is-favored-to-wi">in the final outcome.</a>



<h3 class="wp-block-heading">Gold ETF Surge</h3>



The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) saw $1.8 billion in inflows during October, its highest in over two years. Rising investment demand continues pushing gold toward record highs as investors turn to this safe-haven asset at a time of political <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41663633/biggest-gold-etf-posts-highest-monthly-inflows-in-2-5-years-as-investors-rush-to-">upheaval and fiscal uncertainty.</a>



Ford Halts F-150 Lightning Production



Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) is pausing F-150 Lightning production from Nov. 18 to Jan. 6, responding to Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)'s Cybertruck sales surge. The move aims to recalibrate production with demand and improve profitability for <a href="https://www.benzinga.com/news/24/11/41677673/ford-f-150-lightning-pickup-truck-production-to-be-halted-temporarily-after-teslas-cybertruck-races">the Michigan-based automaker.</a>



Now Read:



<ul>
<li><a href="https://www.benzinga.com/general/24/11/41693751/biden-can-blame-boeing-for-massive-jobs-data-miss">Biden Can Blame Boeing For Massive Jobs Data Miss</a></li>
</ul>



Image: Shutterstock

Broad U.S. Equity ETFs

BKNG

CHTR

MAGS

Market Volatility Soars Ahead Of Elections, Tech Earnings Mixed, Strikes And Hurricanes Knock Employment Down: This Week In The Markets

The past week was a whirlwind of political news, with the 2024 presidential election taking center stage. From Senator Bernie Sanders criticizing Donald Trump&#8216;s tax plan to a leading economist making his election prediction, the political landscape was buzzing with activity. Here&#8217;s a quick recap of the top stories.



Sanders Criticizes Trump&#8217;s Tax Plan



Senator Bernie Sanders has voiced strong opposition to Donald Trump&#8216;s proposal to eliminate all income taxes. Sanders described the plan as &#8216;insane economics&#8217; that would disproportionately benefit the wealthy while harming the poorest members of society. He also suggested that the plan&#8217;s popularity among billionaires was due to their potential financial gain.



<a href="https://www.benzinga.com/news/24/10/41642184/bernie-sanders-says-trumps-plan-to-eliminate-all-income-taxes-is-insane-economics-will-trigger-the-b">Read the full article here.</a>



Market Expert Makes 2024 Election Prediction



With just a week left in the head-to-head matchup between Donald Trump and Vice President Kamala Harris, leading market economist Christophe Barraud made his prediction on who will win the 2024 presidential election. Barraud has earned the title of &#8220;the world&#8217;s most accurate economist&#8221; over the years thanks to his accurate predictions on the U.S. economy.



<a href="https://www.benzinga.com/general/politics/24/10/41614533/market-expert-makes-2024-election-prediction-did-worlds-most-accurate-economist-pick-harris-or-t">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41635149/2024-election-odds-on-polymarket-kalshi-show-trump-will-win-why-they-might-be-wrong?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Trump&#8217;s Polymarket, Kalshi Election Odds Might Be Wrong</a>



Kamala Harris Receives Endorsement From Puerto Rico&#8217;s Largest Newspaper



El Nuevo Día, Puerto Rico's largest newspaper, endorsed Kamala Harris for the presidency. This endorsement comes amidst a recent controversy involving derogatory remarks about Puerto Rico made at a Donald Trump rally.



<a href="https://www.benzinga.com/news/24/10/41615257/floating-island-of-garbage-fallout-kamala-harris-recieves-endorsement-from-puerto-ricos-largest-news">Read the full article here.</a>



Trump&#8217;s Billionaire Ally Plans To Join Elon Musk&#8217;s DOGE



John Paulson, a billionaire investor and a close ally of former President Donald Trump, has revealed his plans to work with Elon Musk on substantial federal spending cuts if he were to be appointed Treasury secretary in a second Trump administration.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41619022/trumps-billionaire-ally-plans-to-join-elon-musks-doge-if-named-treasury-secretary-recommen">Read the full article here.</a>



GOP Megadonor Predicts Trump&#8217;s Victory



Citadel LLC CEO Ken Griffin, a significant Republican donor, predicted that Donald Trump would reclaim the U.S. presidency during the Future Investment Initiative summit in Saudi Arabia.



<a href="https://www.benzinga.com/news/24/10/41645236/gop-megadonor-ken-griffin-says-expectation-today-is-that-donald-trump-will-win-the-white-house">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/news/24/11/41698607/kamala-harris-ready-if-trump-decides-to-falsely-declare-victory-we-are-prepared-to-respond?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris &#8216;Ready&#8217; If Trump Decides To &#8216;Falsely&#8217; Declare Victory: &#8216;We Are Prepared To Respond&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock



 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Sanders Slams Trump's Tax Plan, John Paulson Plans To Join Elon Musk's DOGE, GOP Megadonor Predicts Trump's Victory And More: This Week In Politics

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