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The US is now locked in a trade war with China, with the Trump administration wielding the American economy as a weapon against a nation incidentally responsible for inordinate amounts of trade with the US. Today, the US imports almost three times as much from China as they do from us. Really: we charted it, every dollar of it — take a look.
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Presented by
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<h1 style="margin:0;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:30px;font-weight:700;letter-spacing:-2.5px;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:36px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
Hey Snackers,
</span>
</h1>
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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">
Apple pulled the ultimate AirDrop to beat President Trump’s tariffs: airlifting
<a style="text-decoration: underline; color: #5869ff;">
<strong>
600 tons of iPhones
</strong>
</a>
— as many as 1.5 million devices — from India to the US via chartered cargo flights.
</p>
<p style="margin:0;margin-bottom:16px">
US stocks had a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
nasty hangover yesterday
</strong>
</a>
and gave back a big chunk of the prior session’s gains as the relief rally petered out. The S&P 500 fell 3.5%, the Nasdaq 100 slumped 4.2%, and the Russell 2000 finished with a 4.3% decline.
</p>
<p style="margin:0;margin-bottom:16px">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Every S&P 500 sector ETF declined
</strong>
</a>
, save for consumer staples. Energy brought up the rear with a massive 6.5% loss, while tech also lagged.
</p>
<p style="margin:0">
❓ Quizchella: Test your knowledge of recent news and trivia 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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<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">
How many pending lawsuits is TikTok currently facing?
<br/>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Check your answer.
</strong>
</a>
</li>
</ul>
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<strong>
WITH APOLOGIES TO SIR TERRY PRATCHETT
</strong>
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<strong>
<a rel="noopener" style="text-decoration: underline; color: #5869ff;" target="_blank">
<span class="mce-content-body mce-edit-focus" data-position="60-0-1" data-qa="tinyeditor-root-element" id="7ef5d017-7f25-4ccc-9cbf-3fd36943670a" style="word-break: break-word; position: relative;">
<strong>
May you live in interesting times
</strong>
</span>
</a>
</strong>
</h1>
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<p style="margin:0;margin-bottom:16px">
The US is now locked in a trade war with China, with the Trump administration wielding the American economy as a weapon against a nation incidentally responsible for inordinate amounts of trade with the US. Today, the US imports almost three times as much from China as they do from us. Really:
<a style="text-decoration: underline; color: #5869ff;">
<strong>
we charted it, every dollar of it — take a look
</strong>
</a>
.
</p>
<p style="margin:0;margin-bottom:16px">
This fight is poised to disrupt a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
consistent and otherwise growing trade
</strong>
</a>
between the two nations, and anyone with skin in the game on the global economy is going to have to trade through it.
</p>
<p style="margin:0">
While it’s almost certainly just apocryphal that the phrase originated in China, we certainly do live in interesting times. Here are just a few things beguiling traders.
</p>
</div>
</td>
</tr>
</table>
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<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">
<strong>
May you live in interesting times:
</strong>
After tanking with the rest of the market, a basket of US stocks with the biggest sales exposure to China had its
<a style="text-decoration: underline; color: #5869ff;">
<strong>
second-best session ever
</strong>
</a>
on Wednesday. On Thursday, those stocks underperformed by 2% and were down over 5%, a very bad session. If you don’t like the weather, just wait a few hours.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
May you come to the attention of those in authority:
</strong>
Trump has now slapped 145% tariffs on most Chinese imports. Meanwhile, China announced that it would increase the 34% tariffs it had in place on US imports to 84%.
<a style="text-decoration: underline; color: #5869ff;">
<strong>
This is not the kind of tit-for-tat sparring that typically signals a deescalation.
</strong>
</a>
If you’re a CEO, good luck planning your orders for the next 60 to 90 days.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
May the gods give you everything you ask for:
</strong>
Semiconductors were spared this.
<em>
For now.
</em>
Nvidia is back to being one of the heaviest weights in the stock market, but
<a style="text-decoration: underline; color: #5869ff;">
<strong>
at what cost
</strong>
</a>
? Analysts are saying most in the industry think that semiconductors’ exemption just means the semiconductor tariffs are going to be
<a style="text-decoration: underline; color: #5869ff;">
<strong>
handled differently anyway
</strong>
</a>
. Not exactly a reprieve!
</li>
</ul>
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<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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<p style="margin:0">
Traders will have to do their best to anticipate the moves of two superpowers that are doing
<em>
their
</em>
best to keep their next moves unpredictable.
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Good luck!
</strong>
</a>
</p>
</div>
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Presented by Nasdaq
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Unlock the Full Picture
</h1>
</td>
</tr>
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<div align="center" class="alignment">
<div style="max-width:550px">
<a style="outline:none" tabindex="-1" target="_blank">
<img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F6su869qw%252Fqzn%252Fpxh%252Fgit%252Fnasdaq-image1.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQzNjgwODguODQ5MTV9:1u3BpA:wK9JN5DfAJsrAXlLfnjJVdV-ofQ-QbAB1w2tuQYyVvQ" style="display:block;height:auto;border:0;width:100%" title="" width="550"/>
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<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">
Pro traders don’t just use the current buy and sell price to make a decision. They keep real-time visibility on other traders’ buy and sell orders (aka the order book) to anticipate potential shifts.
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Nasdaq TotalView
</strong>
</a>
unlocks that view for pros
<strong>
<em>
and
</em>
</strong>
non-pro retail investors.
</p>
<p style="margin:0;margin-bottom:16px">
TotalView is pro-level information at a non-pro-level price,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
providing deeper insights into the true supply and demand for a particular security
</strong>
</a>
. This professional-grade view is available through many brokerages (like Robinhood Financial, if you are a Robinhood Gold member).
</p>
<p style="margin:0">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
See clearly with Nasdaq TotalView
</strong>
</a>
<strong>
.
</strong>
</p>
</div>
</td>
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</table>
</td>
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</table>
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</tbody>
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<tr>
<td class="pad" style="text-align:left">
<div align="left" class="alignment">
<!--[if mso]>
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<![endif]-->
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<span style="word-break: break-word; line-height: 16.8px;">
<strong>
EARNINGS WARNINGS
</strong>
</span>
</span>
</div>
<!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="heading_block block-3" 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>
This earnings season isn’t about corporate results anymore
</strong>
</a>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" 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" 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">
Today marks the unofficial start of earnings season, with JPMorgan and other big financial firms reporting right around the time this email hits your inbox. As earnings kick off, one of the most tried-and-true stock market rules for the reporting period has been
<a style="text-decoration: underline; color: #5869ff;">
<strong>
completely torn asunder by the trade war
</strong>
</a>
.
</p>
<p style="margin:0;margin-bottom:16px">
Typically, the implied correlation of S&P 500 stocks — that is, how much the members of the index are priced to move independently or in unison — tumbles as we approach the start of earnings. That makes sense, as different things matter for different companies, so stocks are expected to react to company-specific news rather than larger macro trends.
</p>
<p style="margin:0">
But not this time, as everyone and their mother is focused on one common factor: how much do tariffs change a company’s outlook. So far, the answer is, “I’m not sure.”
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="list_block block-5" 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">
That uncertainty is why Walmart pulled its
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Q1 operating income guidance
</strong>
</a>
and Delta
<a style="text-decoration: underline; color: #5869ff;">
<strong>
yanked its full-year outlook
</strong>
</a>
.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Same goes for
<strong>
Constellation Brands
</strong>
, which reported on Wednesday and noted uncertainty on what to price in tariffs on. Cans? The beer inside the cans?
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Both?
</strong>
</a>
</li>
</ul>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-6" 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">
So, what we’re seeing is implied correlations doing the opposite of what they usually do in this window, as
<a style="text-decoration: underline; color: #5869ff;">
<strong>
this chart shows
</strong>
</a>
.
</p>
</div>
</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>
<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">
As the old adage goes, in a crisis, all correlations go to one. And a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
recession
</strong>
</a>
, for both markets and humans, is a crisis, because as much as you might hate to hear it, the stock market is the economy. We’re living in
<a style="text-decoration: underline; color: #5869ff;">
<strong>
historically volatile times
</strong>
</a>
and even a story about how tariffs could push down inflation — which sounds like good news! — turns out to be
<a style="text-decoration: underline; color: #5869ff;">
<strong>
bad news in the end
</strong>
</a>
.
<strong>
</strong>
</p>
</div>
</td>
</tr>
</table>
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Read more
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<strong>
THE BEST THING WE READ TODAY
</strong>
</span>
</span>
</div>
<!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
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<a style="text-decoration: underline; color: #5869ff;">
<strong>
Apple is the world’s most valuable company again
</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%">
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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">
Apple added nearly $400 billion to its market cap on Wednesday, with shares soaring more than 15% on Wednesday — the company’s biggest single-day gain since 1998.
</p>
<p style="margin:0">
To put that into perspective, that’s about the entire market cap of
<strong>
McDonald’s
</strong>
plus
<a style="text-decoration: underline; color: #5869ff;">
<strong>
five other consumer giants
</strong>
<strong>
<em>
combined
</em>
</strong>
</a>
<em>
.
</em>
</p>
</div>
</td>
</tr>
</table>
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Read more
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</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%">
<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;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="text-align:left">
<div align="left" class="alignment">
<!--[if mso]>
<v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" xmlns:w="urn:schemas-microsoft-com:office:word" style="height:30px;width:361px;v-text-anchor:middle;" arcsize="24%" strokeweight="1.5pt" strokecolor="#000000" fillcolor="#5869ff">
<w:anchorlock/>
<v:textbox inset="0px,0px,0px,0px">
<center dir="false" style="color:#ffffff;font-family:Arial, sans-serif;font-size:14px">
<![endif]-->
<div class="button" style="background-color:#5869ff;border-bottom:2px solid #000;border-left:2px solid #000;border-radius:7px;border-right:2px solid #000;border-top:2px solid #000;color:#fff;display:inline-block;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:14px;font-weight:400;mso-border-alt:none;padding-bottom:5px;padding-top:5px;text-align:center;text-decoration:none;width:auto;word-break:keep-all">
<span style="word-break: break-word; padding-left: 13px; padding-right: 13px; font-size: 14px; display: inline-block; letter-spacing: normal;">
<span style="word-break: break-word; line-height: 16.8px;">
<strong>
Disseminated on behalf of SolarBank Corporation
</strong>
</span>
</span>
</div>
<!--[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%">
<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: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>
Real-world proof that solar’s overtaking — even in developed, historically coal-reliant economies
</strong>
</h1>
</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%">
<tr>
<td class="pad" style="padding-bottom:15px;padding-top:15px;width:100%">
<div align="center" class="alignment">
<div style="max-width:550px">
<a style="outline:none" tabindex="-1" target="_blank">
<img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F6su869qw%252F5th%252Fmz8%252Fhfb%252Fsolarbank-custom-chart-2-apr-min.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQzNjgwODguODQ5MjcyN30:1u3BpA:F2NK24pnivH4NB02GGSzO0ITgwoet1jHN3oslTjncTE" style="display:block;height:auto;border:0;width:100%" title="" width="550"/>
</a>
</div>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" 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" 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">
If renewables can take down coal in Europe, they could do it anywhere.
</p>
<p style="margin:0;margin-bottom:16px">
Renewables are forecast to supply 44% of US electricity by 2050 — and solar energy is set to produce
<strong>
half
</strong>
of that.
</p>
<p style="margin:0">
<strong>
<a rel="noopener" style="text-decoration: underline; color: #5869ff;" target="_blank">
SolarBank (Nasdaq: SUUN)
</a>
</strong>
is an independent power producer with a plan — plus 100+ clean and renewable solar energy plants under management.
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
Learn more
</strong>
</a>
<strong>
.
</strong>
<sup>
<strong>
1
</strong>
</sup>
</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-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;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
<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 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="button_block block-2" 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]>
<v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" xmlns:w="urn:schemas-microsoft-com:office:word" style="height:24px;width:76px;v-text-anchor:middle;" arcsize="30%" strokeweight="1.5pt" strokecolor="#000000" fillcolor="#5869ff">
<w:anchorlock/>
<v:textbox inset="0px,0px,0px,0px">
<center dir="false" style="color:#ffffff;font-family:Arial, sans-serif;font-size:14px">
<![endif]-->
<div class="button" style="background-color:#5869ff;border-bottom:2px solid #000;border-left:2px solid #000;border-radius:7px;border-right:2px solid #000;border-top:2px solid #000;color:#fff;display:inline-block;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:14px;font-weight:400;mso-border-alt:none;padding-bottom:2px;padding-top:2px;text-align:center;text-decoration:none;width:auto;word-break:keep-all">
<span style="word-break: break-word; padding-left: 11px; padding-right: 11px; font-size: 14px; display: inline-block; letter-spacing: normal;">
<span style="word-break: break-word; line-height: 16.8px;">
<strong>
MOVES
</strong>
</span>
</span>
</div>
<!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="heading_block block-3" 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: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">
Royal Caribbean
<a style="text-decoration: underline; color: #5869ff;">
<strong>
sank
</strong>
</a>
after analysts chopped their price target for the cruise line
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Carmakers Tesla, GM, and Ford
<a style="text-decoration: underline; color: #5869ff;">
<strong>
all fell
</strong>
</a>
<strong>
</strong>
after UBS analysts slashed price targets
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Nvidia also sank (notice a trend?) after an analyst’s warning that tariff trouble
<strong>
“
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
is not over
</strong>
</a>
<strong>
”
</strong>
</li>
</ul>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-14" 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="divider_block block-1" 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>
<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;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">
Consumers tried to
<a style="text-decoration: underline; color: #5869ff;">
<strong>
unload a record number
</strong>
</a>
of used
<strong>
Teslas
</strong>
in March
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
But that’s not helping
<strong>
CarMax
</strong>
, which
<a style="text-decoration: underline; color: #5869ff;">
<strong>
hit the skids
</strong>
</a>
as management removed the element of time from its goals
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
What is… a losing battle: it looks like CBS can’t stop Sony from
<a style="text-decoration: underline; color: #5869ff;">
<strong>
distributing “Jeopardy!”
</strong>
</a>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Meanwhile, soccer star Kylian Mbappé is battling his former club for
<a style="text-decoration: underline; color: #5869ff;">
<strong>
€55 million in unpaid wages
</strong>
</a>
and bonuses
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Will the Fed intervene? A look at
<a style="text-decoration: underline; color: #5869ff;">
<strong>
five market crises
</strong>
</a>
<strong>
</strong>
and the tipping points that forced the Fed’s hand
</li>
</ul>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-15" 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;padding-bottom:5px;padding-left:25px;padding-right:25px;padding-top:5px;vertical-align:top" width="100%">
<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 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-16" 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-size:auto;background-color:#5869ff;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;padding-bottom:15px;padding-left:25px;padding-right:25px;padding-top:15px;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="text-align:center;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-bottom:10px;padding-left:40px;padding-right:40px;padding-top:10px">
<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>
Amazon CEO Andy Jassy mentioned AI 25 times in his shareholder letter.
</strong>
</a>
</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-17" 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;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
<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 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%">
<tr>
<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;">
Friday
</span>
</h1>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-18" 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="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%">
<tr>
<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">
March Producer Price Index
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Earnings expected from
<strong>
JPMorgan Chase, Morgan Stanley, Wells Fargo,
</strong>
and
<strong>
BlackRock
</strong>
</li>
</ul>
</div>
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