FEATURED IN TODAYS NEWSLETTER

• What’s Moving the Markets? Financial Services Roundup

• Making Amends: Tech CEOs Shift Tone as Trump’s Influence Grows

• Polymarket Under Fire: Researchers Uncover Fake ‘Wash’ Trading Practices

Business

What’s Moving the Markets? Financial Services Roundup

Front-month gold futures hit a new record high, rising 0.9% to $2,768.40 an ounce, marking four straight sessions of gains with a 2% increase overall. According to Peter Cardillo of Spartan Capital Securities, gold’s rally is driven by reports of China planning to add $1.4 trillion in debt over the next five years, along with uncertainty around the U.S. Presidential election. Cardillo suggests gold could reach $2,850 an ounce in the near term. SPDR Gold shares are also up 1.1%.

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Polymarket Under Fire: Researchers Uncover Fake ‘Wash’ Trading Practices

The prediction market Polymarket has gained significant mainstream attention amid the 2024 U.S. election, reporting a staggering $2.7 billion in bets from users speculating on whether Donald Trump or Kamala Harris will emerge victorious in early November. This surge in activity highlights the growing popularity of prediction markets as a unique way for individuals to engage with political outcomes, turning what was once a niche platform into a major player in the electoral landscape. As interest in these markets grows, many are curious to see how accurately they reflect public sentiment and the potential implications for the election outcome.

TECH

Making Amends: Tech CEOs Shift Tone as Trump’s Influence Grows

Today’s newsletter covers tech CEOs reconnecting with Donald Trump, the risks of AI chatbots, and navigating family discussions about sharing baby photos online.  

With polls showing a tight race, top tech executives are reaching out to Trump, preparing for a possible return to the White House and preempting regulatory backlash. Apple’s Tim Cook, once dubbed “Tim Apple” by Trump, discussed legal issues with him. Alphabet’s Sundar Pichai also called Trump, praising a McDonald’s photo op, which Trump highlighted at a rally and on The Joe Rogan Experience. After criticizing Google for favoring Kamala Harris, Trump received a call from Meta’s Mark Zuckerberg, who later praised his response to an assassination attempt as “badass.” Amazon’s Andy Jassy and Blue Origin executives have also made contact, aiming to stay in Trump’s good graces.