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                      Hey Snackers,
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                      Tech analyst and AI bull Dan Ives is leaving Wedbush Securities, not to become a full-time
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        fashion designer
                       </strong>
                      </a>
                      (unfortunately), but to launch a “
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                       <strong>
                        modern merchant bank
                       </strong>
                      </a>
                      ,” combining proprietary research, strategic advisory, capital raising, and investing across technology, energy, and financials.
                     </p>
                     <p style="margin:0;margin-bottom:16px">
                      In last Thursday’s June jobs report, US job growth fell
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        well below analysts’ estimates
                       </strong>
                      </a>
                      , but the unemployment rate unexpectedly dipped. Stocks got an initial bump from this print, but a selloff in chip stocks dragged the Nasdaq 100 lower, while the S&amp;P 500 closed flat on Thursday. Both indexes posted weekly gains, while the Russell 2000 logged both a daily and weekly loss.
                     </p>
                     <p style="margin:0">
                      🧠 Start your week with our
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Snacks Seven Quiz
                       </strong>
                      </a>
                      . Here’s the first question:
                     </p>
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                       Which middle-aged comedian recently modeled underwear for Kim Kardashian’s SKIMS brand?
                      </li>
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                      <li aria-level="1" style="Margin:0 0 8px 0">
                       Adam Sandler
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       Bob Odenkirk
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       Conan O’Brien
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       Will Ferrell
                      </li>
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                        Check your answer
                       </strong>
                      </a>
                      .
                     </p>
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                     <a style="text-decoration: underline; color: #5869ff;">
                      <strong>
                       Meta is starting a cloud business to sell excess AI compute. Wait, why does Meta have extra compute?
                      </strong>
                     </a>
                    </h1>
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                     <p style="margin:0">
                      Last week, Bloomberg
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        reported
                       </strong>
                      </a>
                      that the social media giant
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Meta
                       </strong>
                      </a>
                      is planning to join its Mag 7 hyperscaler peers and
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        start a cloud business that sells excess AI compute
                       </strong>
                      </a>
                      .
                     </p>
                    </div>
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                  <tr>
                   <td class="pad" style="padding-top:10px;padding-bottom:15px;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">
                       In late May, CEO Mark Zuckerberg
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         suggested
                        </strong>
                       </a>
                       that a foray into this business was “definitely on the table.”
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       Investor attitudes toward Meta’s lack of a cloud business have, to date, shifted with the wind. Sometimes, it’s seemingly served as
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         cause to question
                        </strong>
                       </a>
                       <strong>
                       </strong>
                       the rationale for the company’s massive AI capex bill. Other times, harnessing its AI capabilities to accelerate sales has been
                       <strong>
                       </strong>
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         proof positive of the utility of those outlays
                        </strong>
                       </a>
                       .
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       Neocloud and data center companies
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         CoreWeave
                        </strong>
                       </a>
                       ,
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Nebius
                        </strong>
                       </a>
                       ,
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         IREN
                        </strong>
                       </a>
                       , and
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Cipher Mining
                        </strong>
                       </a>
                       got slammed in the wake of the report — Meta having excess compute to sell is a direct shot at firms whose raison d'être is to provide just that.
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       The story of the hyperscalers in 2026 has largely been: “the beatings will continue until the cash flow outlook improves.” You can make the argument that Meta’s move has the potential to improve this situation from either end: more cash in, or less out.
                      </li>
                     </ul>
                    </div>
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                     <p style="margin:0;margin-bottom:16px">
                      Selling compute rather than using it for, say,
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        training models that disappoint
                       </strong>
                      </a>
                      , would offer an immediate short-term financial benefit. And the idea that there’s excess compute to begin with implies that maybe Meta’s AI capex bill won’t be so high going forward.
                     </p>
                     <p style="margin:0">
                      On the other hand, it’s not like the market has been rewarding cloud businesses lately. Hyperscalers recently traded at their lowest forward valuation since the launch of ChatGPT, and at a discount to the S&amp;P 500. Hell,
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Microsoft
                       </strong>
                      </a>
                      just had its worst month since 2000 during the S&amp;P 500’s best quarter since 2020!
                     </p>
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                      THE TAKEAWAY
                     </span>
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                     <p style="margin:0;margin-bottom:16px">
                      The implicit assumption that the market seems to be making here is that admitting you have enough excess compute for a cloud business is the first step toward not spending so damn much on compute. That may be a safe assumption; it may not. Cloud businesses require scale, and
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        moving into the cloud business is a de facto commitment to having excess capacity that you’re able to sell!
                       </strong>
                      </a>
                     </p>
                     <p style="margin:0">
                      And that means it’s not necessarily a clean down-arrow for the forward capex outlook; if anything, it’s a bet on the continuity and breadth of AI downstream demand. So far this year, market participants have routinely preferred to bet on picks-and-shovels or “bottleneck” stocks that benefit from AI capex over any potential ROI from would-be downstream demand.
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                      Home runs are flying fast and furious across baseball right now, with the Chicago Cubs hitting EIGHT of them last Wednesday and 20-year-old Junior Caminero of the Rays going deep for a sixth consecutive game — part of a run with nine home runs in his past eight games. Prediction markets are anticipating an
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                      in a single game.
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                        Who owns AI?
                       </strong>
                       Last Thursday, the Financial Times reported that
                       <strong>
                        OpenAI
                       </strong>
                       CEO Sam Altman is in preliminary talks with the Trump administration
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                       . Altman has advocated that giving the US a financial stake in the company is the best way for the public to reap the benefits of AI. The idea of sharing AI profits with the American people has arisen before, with Senator Bernie Sanders’
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                        </strong>
                       </a>
                       , which would establish a sovereign wealth fund through a 50% equity stake in AI companies.
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       <strong>
                        Beer for people who want less beer:
                       </strong>
                       As we’ve previously covered, alcohol sales are
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         under pressure
                        </strong>
                       </a>
                       as consumers grow more health-conscious and GLP-1s curb appetites for booze. To cater to lighter drinkers,
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Constellation Brands
                        </strong>
                       </a>
                       is putting Pacifico into
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         “pony” beer cans
                        </strong>
                       </a>
                       (7- to 9-ounce cans, compared to the typical 12- or 16-ounce can) after seeing success in sales of its Coronitas and Modelitos. Sales of
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Molson Coors
                        </strong>
                       </a>
                       ’ Miller High Life pony bottles have grown steadily over the past five years, and
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Anheuser Busch
                        </strong>
                       </a>
                       released a Post Malone-branded, limited-edition miniature can of Bud Light, highlighting that smaller cans have the benefit of staying colder while you drink.
                      </li>
                     </ul>
                    </div>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-8" 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;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-left:25px;padding-right:25px">
                 <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
                  <tr>
                   <td align="center" class="pad" style="padding-top:25px;padding-bottom:25px">
                    <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>
                   </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%">
                  <tr>
                   <td align="center" class="pad" style="width:100%;padding-bottom:10px">
                    <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;">
                      Snacks Shots
                     </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 style="Margin:0 0 8px 0">
                       <strong>
                        🇺🇸 USA vs 🇧🇪 Belgium:
                       </strong>
                       Is this the only soccer game today? No. Is this the only one we’re paying attention to?
                       <em>
                        Maybe!
                       </em>
                       The market’s pricing in
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         a 46% chance
                        </strong>
                       </a>
                       * that the US is eliminated in this game, in what is shaping up to be the toughest match the US has faced so far.
                      </li>
                     </ul>
                    </div>
                   </td>
                  </tr>
                 </table>
                 <table border="0" cellpadding="10" cellspacing="0" class="paragraph_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
                  <tr>
                   <td class="pad">
                    <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">
                      *Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
                     </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%">
                  <tr>
                   <td align="center" class="pad" style="padding-top:25px;padding-bottom:25px">
                    <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>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-9" 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;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-left:25px;padding-right:25px">
                 <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 align="center" class="pad" style="width:100%;padding-bottom:10px">
                    <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-2" 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-top:5px;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">
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Tesla
                        </strong>
                       </a>
                       vehicle sales jumped 25% in Q2,
                       <strong>
                       </strong>
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         beating Wall Street’s modest expectations
                        </strong>
                       </a>
                       by a wide margin.
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Microsoft
                        </strong>
                       </a>
                       will
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         combine its consumer and enterprise AI chatbots
                        </strong>
                       </a>
                       in an attempt to compete with Claude and ChatGPT, according to a report from The Information.
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       Is there a
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         fun shortage
                        </strong>
                       </a>
                       in America? The number of spaces to relax and socialize is dwindling.
                      </li>
                     </ul>
                    </div>
                   </td>
                  </tr>
                 </table>
                </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;border-radius:0;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;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-bottom:5px;padding-left:25px;padding-right:25px;padding-top:5px">
                 <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
                  <tr>
                   <td align="center" class="pad" style="padding-top:25px;padding-bottom:25px">
                    <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>
                   </td>
                  </tr>
                 </table>
                </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;background-size:auto" 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:#5869ff;background-size:auto;border-bottom:30px solid #fff;border-left:30px solid #fff;border-radius:10px;border-right:30px solid #fff;border-top:30px solid #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;border-bottom:4px solid #5869ff;border-left:4px solid #5869ff;border-right:4px solid #5869ff;border-top:4px solid #5869ff;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-bottom:15px;padding-left:25px;padding-right:25px;padding-top:15px">
                 <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 align="center" class="pad" style="width:100%">
                    <h1 style="margin:0;color:#fff;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:center;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                     <span class="tinyMce-placeholder" style="word-break: break-word;">
                      Snack Fact of the Day
                     </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-top:10px;padding-bottom:10px;padding-left:40px;padding-right:40px">
                    <div style="color:#fff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:17px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:center;mso-line-height-alt:20px">
                     <p style="margin:0">
                      <a style="text-decoration: underline; color: #ffffff;">
                       <strong>
                        Google’s data centers consumed more than 42 million megawatt-hours of electricity in 2025, rivaling the electricity consumption of Denmark or Nigeria.
                       </strong>
                      </a>
                     </p>
                    </div>
                   </td>
                  </tr>
                 </table>
                </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%">
       <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;border-radius:0;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;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-left:25px;padding-right:25px">
                 <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
                  <tr>
                   <td align="center" class="pad" style="padding-top:25px;padding-bottom:25px">
                    <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>
                   </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%">
                  <tr>
                   <td align="center" class="pad" style="width:100%;padding-bottom:10px">
                    <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;">
                      This Week
                     </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">
                       <strong>
                        Monday:
                       </strong>
                       ISM June Services PMI®
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       <strong>
                        Tuesday
                       </strong>
                       : No major earnings or data releases scheduled
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       <strong>
                        Wednesday:
                       </strong>
                       Postmarket earnings expected from
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Levi Strauss
                        </strong>
                       </a>
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       <strong>
                        Thursday:
                       </strong>
                       Premarket earnings expected from
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         PepsiCo
                        </strong>
                       </a>
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       <strong>
                        Friday:
                       </strong>
                       Premarket earnings expected from
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Delta
                        </strong>
                       </a>
                      </li>
                     </ul>
                    </div>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </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%">
       <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;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-left:25px;padding-right:25px">
                 <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
                  <tr>
                   <td align="center" class="pad" style="padding-top:25px;padding-bottom:25px">
                    <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                      <td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
                       <span style="word-break: break-word;">
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