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  <div class="sailthru-emco-preheader" style="display: none; max-height: 0px; overflow: hidden;">
   Investors and CEOs have completely ditched the idea that tariffs will cause a recession.
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                  (Getty Images)
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                   Presented by
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                   Hey Snackers,
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                  <p style="margin:0;margin-bottom:16px">
                   The makers of virtually every T-shirt ever shot out of a cannon at a minor league baseball game are planning to combine to create a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     basics powerhouse
                    </strong>
                   </a>
                   .
                   <strong>
                   </strong>
                   While we were more familiar with
                   <strong>
                    Hanes
                   </strong>
                   than the company behind Gold Toe socks and basic tees,
                   <strong>
                    Gildan
                   </strong>
                   , it’s the latter that’s acquiring the former in a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     multibillion-dollar deal
                    </strong>
                   </a>
                   .
                   <strong>
                   </strong>
                   Meanwhile, we’re still waiting to catch our first projectile tee (and believe us, we really try).
                  </p>
                  <p style="margin:0">
                   The S&amp;P 500 barely spent a minute in the red all day, rising 0.3% to secure
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     another record closing high
                    </strong>
                   </a>
                   . The Nasdaq 100 lagged, barely breaking even, while small-caps surged as the Russell 2000 advanced 2%. It’s the first time the S&amp;P 500’s advance-decline line has ended above 300 for back-to-back sessions since mid-April, when global stocks were shaking off their tariff-induced drubbing.
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              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px;padding-top:10px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:26px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:31px">
                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Investors and CEOs have completely ditched the idea that tariffs will cause a recession
                   </strong>
                  </a>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   There’s no doubt execs and analysts are still talking a lot about tariffs, but something major has shifted.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   While mentions of
                   <strong>
                    “recession”
                   </strong>
                   and related terms in S&amp;P 500 companies’ quarterly earnings calls
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     have dropped precipitously
                    </strong>
                   </a>
                   to their lowest level since 2005, references to
                   <strong>
                    tariffs
                   </strong>
                   (while down) remain extremely high relative to history — you can see this in our
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     side-by-side chart
                    </strong>
                   </a>
                   .
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   A Bank of America survey of fund managers showed that while a trade war triggering a global recession remains the biggest tail risk, with
                   <strong>
                    29%
                   </strong>
                   deeming it as such, that share is down substantially from
                   <strong>
                    80%
                   </strong>
                   in its April survey. That’s despite expectations for the average US tariff rate to steadily rise from 12% in June to 15%, which tracks with the evolution of
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     effective tariff rates
                    </strong>
                   </a>
                   .
                  </p>
                  <p style="margin:0">
                   So what gives?
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:15px;padding-left:10px;padding-right:10px;padding-top:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Unlike Rumsfeld’s
                    <strong>
                     “
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      unknown unknowns
                     </strong>
                    </a>
                    <strong>
                     ,”
                    </strong>
                    tariffs are a known known and judged to be a manageable risk by the C-suite and market participants.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    The levies are
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      not yet playing the starring role
                     </strong>
                    </a>
                    in defining the average American’s total inflation experience, but are being offset by
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      other factors
                     </strong>
                    </a>
                    .
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    And tariffs haven’t slowed the continued profitability of US megacap tech companies, which has fueled S&amp;P 500 12-month forward
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      earnings-per-share estimates
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    to an all-time high.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Corporate America’s
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      ability to adapt
                     </strong>
                    </a>
                    is another factor preventing tariffs from creating an obviously large hole.
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   Drilling down on why the tariff announcements that brought the S&amp;P 500 to the verge of a bear market in April haven’t produced anything nearly as dire as feared, Markets Editor Luke Kawa looks back at Fed Chair Jay Powell’s 2022 Jackson Hole speech as a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     turning point in the inflation narrative
                    </strong>
                   </a>
                   . It was when people really woke up and noticed that, “Hey, things are getting hot in here!” It wasn’t that the water around us frogs hadn’t been getting warmer, but it had been a slow, sleepy rise that didn’t seem dire…
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     until it did
                    </strong>
                   </a>
                   .
                   <strong>
                   </strong>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   THE TAKEAWAY
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   The third quarter of 2025 may serve as a similar alarm bell regarding the “real growth” side of the US economy. Retail earnings out soon may give us some clues as to whether the
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     lackluster performance of consumer spending year to date
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   is gathering momentum. But there’s also the potential outcome that the fear around these tariffs was worse than the experience of actually living with them.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
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                     Presented by State Street Investment Management
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                     NEUTRON DANCE
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                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Rocket Lab CEO: Neutron still on track for 2025 launch
                   </strong>
                  </a>
                 </h1>
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                  <p style="margin:0;margin-bottom:16px">
                   We’ve been anxiously watching the progress of
                   <strong>
                    Rocket Lab
                   </strong>
                   and glad to hear it’s on track to launch its next-generation Neutron rocket later this year. CEO Peter Beck told Sherwood News, “It’s a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     green light schedule
                    </strong>
                   </a>
                   … We are pushing hard and, you know, we’ll do everything we can to get that vehicle away.”
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   Why so much pressure? Two words: Elon Musk. A successful Neutron launch would allow Rocket Lab to compete directly with Musk’s
                   <strong>
                    SpaceX
                   </strong>
                   , which currently dominates the industry. The
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     market seems to be betting
                    </strong>
                   </a>
                   that there’s a large, untapped demand for alternatives to Musk.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   Rocket Lab shares surged following
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     the Musk-Trump breakup
                    </strong>
                   </a>
                   , adding to gains that have made the space company one of the stock market’s big winners over the last year, rising over
                   <strong>
                    700%
                   </strong>
                   ,
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     as we’ve charted here
                    </strong>
                   </a>
                   .
                  </p>
                  <p style="margin:0">
                   We asked Beck whether there had been an uptick in interest from the US government since the Musk-Trump rupture, and he explained
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     why his company could heal a “general uneasiness”
                    </strong>
                   </a>
                   around SpaceX’s near monopoly.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-10" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:8px;padding-top:24px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   THE TAKEAWAY
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   Though Rocket Lab’s shares slipped a bit after the company reported
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     mixed earnings results
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   last week, Beck is betting that once Neutron is up and running, the company’s flow of red ink will quickly slow as R&amp;D expenditures decline and the prices it can charge for Neutron launches with larger payloads rise.
                   <strong>
                   </strong>
                   Now it just has to literally get off the ground.
                  </p>
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     The two things Beck is still worried about
                    </strong>
                   </a>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:25px;padding-top:25px">
                 <div align="center" class="alignment">
                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
                   <tr>
                    <td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
                     <span style="word-break: break-word;">
                     </span>
                    </td>
                   </tr>
                  </table>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-11" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
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              <table border="0" cellpadding="0" cellspacing="0" class="button_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="text-align:left">
                 <div align="left" class="alignment">
                  <!--[if mso]>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     THE BEST THING WE READ TODAY
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Amazon now has the lowest free delivery minimum among grocery stores
                   </strong>
                  </a>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   Amazon’s announcement Wednesday that Prime members across the country can get
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     free same-day grocery delivery
                    </strong>
                   </a>
                   sent grocery stocks down, but no one got hit worse than
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Instacart
                    </strong>
                   </a>
                   , which sank double digits. The online retail giant’s latest push into the grocery business might do more than gobble up revenue from competitors; it could eat into other grocery chains’ margins by forcing them to lower their free delivery thresholds for subscribers as Amazon undercuts them all.
                  </p>
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Delivery fees, from Amazon to Walmart
                    </strong>
                   </a>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:25px;padding-top:25px">
                 <div align="center" class="alignment">
                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
                   <tr>
                    <td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
                     <span style="word-break: break-word;">
                     </span>
                    </td>
                   </tr>
                  </table>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-12" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="button_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px;text-align:left">
                 <div align="left" class="alignment">
                  <!--[if mso]>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     OFF THE CHARTS
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                  <p style="margin:0">
                   What is the most valuable college football team?
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="image_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                  <div style="max-width:550px">
                   <a target="_blank">
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                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Answer here.
                    </strong>
                   </a>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                 </div>
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             </td>
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           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-13" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;border-radius:0;color:#000;width:600px;margin:0 auto" width="600">
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     Presented by Hylio
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                 </div>
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              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                  <strong>
                   Why Washington's Foreign-Drone Crackdown Could Be Texan Drone Company's
                  </strong>
                  <strong>
                   Big Opportunity
                  </strong>
                 </h1>
                </td>
               </tr>
              </table>
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                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   Potential foreign drone bans could reshape agriculture tech overnight.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Hylio's Texas-made drones
                    </strong>
                   </a>
                   and federal approvals position them perfectly as farmers seek reliable, regulation-proof equipment. With 1M+ acres treated and major customers secured, they're ready to capitalize on market disruption.
                  </p>
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Investment deadline: August 15th
                    </strong>
                   </a>
                   .
                   <sup>
                    2
                   </sup>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
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           </tbody>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     MOVES
                    </strong>
                   </span>
                  </span>
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                </td>
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <strong>
                   Yesterday’s Big Daily Movers
                  </strong>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     CoreWeave
                    </strong>
                    fell after a downgrade from Bank of America based on
                    <strong>
                     “
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      near term overhang
                     </strong>
                    </a>
                    <strong>
                     ”
                    </strong>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     Cava
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      plunged
                     </strong>
                    </a>
                    after it reported sales that missed Wall Street expectations and slashed its outlook
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Stablecoin giant
                    <strong>
                     Circle
                    </strong>
                    dipped after top shareholders and its CEO
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      reduced
                     </strong>
                    </a>
                    their positions
                   </li>
                   <li style="Margin:0 0 8px 0">
                    <strong>
                     Capri
                    </strong>
                    , parent company of
                    <strong>
                     Versace
                    </strong>
                    ,
                    <strong>
                     Jimmy Choo
                    </strong>
                    , and
                    <strong>
                     Michael Kors
                    </strong>
                    ,
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      climbed
                     </strong>
                    </a>
                    after JPMorgan upgraded its rating for the luxury fashion house
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
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         </td>
        </tr>
       </tbody>
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         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
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               <tr>
                <td class="pad" style="padding-bottom:25px;padding-top:25px">
                 <div align="center" class="alignment">
                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
                   <tr>
                    <td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
                     <span style="word-break: break-word;">
                     </span>
                    </td>
                   </tr>
                  </table>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                <td class="pad" style="padding-bottom:10px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   What else we're Snackin'
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Around the world,
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      1 in 10
                     </strong>
                    </a>
                    people live on less than
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      $3 a day
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    The race between On Running
                    <strong>
                    </strong>
                    and Hoka,
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      charted
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Apple
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      claps back
                     </strong>
                    </a>
                    at Elon Musk
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    The US has reportedly
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      placed location trackers
                     </strong>
                    </a>
                    in shipments of AI chips illegally diverted to China
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Standard Chartered raised its price target on ethereum and expects it to reach
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      $7,500 by the end of the year
                     </strong>
                    </a>
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
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             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-left:25px;padding-right:25px;padding-top:5px;vertical-align:top" width="100%">
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                     <span style="word-break: break-word;">
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                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   Snack Fact of the Day
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
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                 <div style="color:#000;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:center;mso-line-height-alt:22px">
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #ffffff;">
                    <strong>
                     The overall crypto market cap hit an all-time high of $4.1 trillion on Wednesday.
                    </strong>
                   </a>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
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           </tbody>
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       </tbody>
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                     <span style="word-break: break-word;">
                     </span>
                    </td>
                   </tr>
                  </table>
                 </div>
                </td>
               </tr>
              </table>
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                <td class="pad" style="text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   Thursday
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
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       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
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             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
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                <td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px;padding-top:5px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    July Producer Price Index
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Earnings expected from
                    <strong>
                     John Deere, JD.com, Tapestry,
                    </strong>
                    and
                    <strong>
                     Applied Materials
                    </strong>
                   </li>
                  </ul>
                 </div>
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              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                <td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px;padding-top:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:left;mso-line-height-alt:22px">
                  <p style="margin:0;margin-bottom:16px">
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   <strong>
                    Advertiser's disclosures:
                    <br/>
                   </strong>
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   <sup>
                    1
                   </sup>
                   <strong>
                    Before investing, consider the funds’ investment objectives, risks, charges, and expenses. To obtain a prospectus or summary prospectus, which contains this and other information, call 1-866-787-2257 or visit
                   </strong>
                   <a style="text-decoration: underline; color: #1d1d1d;">
                    <strong>
                     www.ssga.com
                    </strong>
                   </a>
                   <strong>
                    . Read it carefully.
                   </strong>
                   Investing involves risk. ALPS Distributors, Inc. (fund distributor); State Street Investment Management Funds Distributors, LLC (marketing agent).
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   <a style="text-decoration: underline; color: #1d1d1d;">
                    <strong>
                     State Street Global Advisors (SSGA) is now State Street Investment Management. Please click here for more information.
                    </strong>
                   </a>
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   <sup>
                    2
                   </sup>
                   The minimum investment is $328.60. Please read the offering circular and related risks at
                   <a style="text-decoration: underline; color: #1d1d1d;">
                    https://www.startengine.com/offering/hylio
                   </a>
                   .This is a paid advertisement for Hylio’s Regulation CF Offering. This Reg CF offering is made available through StartEngine Primary, LLC.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   Past performance is no guarantee of future results. Investing in private company securities is not suitable for all investors because it is highly speculative and involves a high degree of risk. It should only be considered a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid, and there is no guarantee that a market will develop for such securities.
                  </p>
                  <p style="margin:0">
                   This was a paid for ad. Sherwood Media has been compensated for this ad by the Hylio Reg CF Campaign hosted on StartEngine.
                  </p>
                 </div>
                </td>
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