It was a red October for the artificial intelligence (AI) trade as the tech-heavy Nasdaq-100 index slumped by 6.6%. That shift didn't chase investors entirely out of the market, though. Rather, they rotated away from tech into the friendly confines of consumer staples. In fact, some of the most familiar consumer defensive stocks are posting tech-esque returns of late. Just look at Colgate-Palmolive (NYSE: CL). A stock that many market participants know primarily as a Dividend King -- thanks to its payout-hiking streak of at least 50 years -- delivered an October performance that would make an AI stock blush, surging by 12.3%. Image source: Getty Images.
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