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Robinhood Registered user
@uifeed.com
Subscribed 4 years, 6 months ago
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Since the first American nuclear power plant came online at the end of 1957, reactors had been built as bespoke, billion-dollar behemoths, designed to pump out hundreds of megawatts of electricity to offset the high up-front construction costs with greater economies of scale.
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Hey Snackers,
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Even in this age of truthiness, words matter — at least
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
in the state of California
</strong>
</a>
. A judge there just ruled that
<strong>
Tesla
</strong>
violated state law by marketing its driver assistance features using “misleading” terms like “Autopilot” and “Full Self-Driving Capability.” The EV maker has 60 days to revise how it uses the term “Autopilot” or it could be
<a style="text-decoration: underline; color: #5869ff;">
<strong>
barred from selling its cars in the state
</strong>
</a>
.
</p>
<p style="margin:0;margin-bottom:16px">
Stocks fell on Wednesday, driven by concerns around
<a style="text-decoration: underline; color: #5869ff;">
<strong>
AI credit risk
</strong>
</a>
,
<strong>
</strong>
which seemed to swell
<a style="text-decoration: underline; color: #5869ff;">
<strong>
following a report
</strong>
</a>
that
<strong>
Blue Owl Capital
</strong>
won’t fund
<strong>
Oracle
</strong>
’s $10 billion Michigan facility. In response, Oracle
<a style="text-decoration: underline; color: #5869ff;">
<strong>
told Bloomberg
</strong>
</a>
that negotiations for that data center project are “on schedule,” but that did little to
<a style="text-decoration: underline; color: #5869ff;">
<strong>
quell investor fears
</strong>
</a>
.
</p>
<p style="margin:0">
💥🏈 We’re kicking off a new newsletter:
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Scoreboard
</strong>
</a>
<strong>
🏀🏅
</strong>
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Stay ahead of the curve on games, stats, and sports news with Sherwood News’ latest daily markets dispatch.
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Sign up here!
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SWORDS INTO PLOWSHARES
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<a style="text-decoration: underline; color: #5869ff;">
<strong>
Inside Oklo’s audacious plan to turn leftover weapons-grade plutonium into a nuclear bridge fuel
</strong>
</a>
</h1>
</td>
</tr>
</table>
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<p style="margin:0;margin-bottom:16px">
Since the first American nuclear power plant came online at the end of 1957, reactors had been built as bespoke, billion-dollar behemoths, designed to pump out hundreds of megawatts of electricity to offset the high up-front construction costs with greater economies of scale.
</p>
<p style="margin:0">
<strong>
Oklo
</strong>
, the
<a style="text-decoration: underline; color: #5869ff;">
<strong>
no-revenue
</strong>
</a>
$12 billion nuclear power startup, is trying to take a different approach, with smaller “microreactors” making it
<a style="text-decoration: underline; color: #5869ff;">
<strong>
easier to ramp up power
</strong>
</a>
.
<strong>
</strong>
</p>
</div>
</td>
</tr>
</table>
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<tr>
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<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
What really makes Oklo stand apart is the design of the reactor. Rather than using water as a coolant like all of the 94 commercial reactors in operation in the US, Oklo intends to use liquid sodium metal. With a coolant that could reach much higher temperatures, Oklo could burn through more of the toxic material that makes the half-life of nuclear waste take centuries to decay.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Sherwood reported about a fascinating new play in that strategy: while American enrichment companies scramble to build the supply chain for the high-assay, low-enriched uranium fuel for these next-generation reactor startups, Oklo
<a style="text-decoration: underline; color: #5869ff;">
<strong>
thinks it has come up with another option: plutonium
</strong>
</a>
.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
During the Cold War bomb-making era, the US government stockpiled plutonium for use in atomic weapons, and still has tons of the stuff lying around. Its long-lived radioactive waste makes plutonium particularly toxic. And Oklo revealed it wants to use that extra plutonium in storage to
<a style="text-decoration: underline; color: #5869ff;">
<strong>
power its reactors
</strong>
</a>
.
<strong>
</strong>
</li>
</ul>
</div>
</td>
</tr>
</table>
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<p style="margin:0">
The US Department of Energy
<a style="text-decoration: underline; color: #5869ff;">
<strong>
had planned
</strong>
</a>
to take as much as 20 metric tons of plutonium, mix it with sand and kitty litter, and bury the material in the desert in New Mexico.The agency halted its disposal process in May, and in August, the Energy Department
<a style="text-decoration: underline; color: #5869ff;">
<strong>
announced a program
</strong>
</a>
<strong>
</strong>
to make the material available for reactor companies.
</p>
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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>
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<p style="margin:0;margin-bottom:16px">
Oklo is in the running to get some. Depending on how much plutonium the company can secure, it could produce enough fuel to generate 2.5 gigawatts of electricity,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
equal to the power demands of nearly 2.5 million American households
</strong>
</a>
.
</p>
<p style="margin:0">
There are other potential sources of plutonium, too. The United Kingdom is planning to dilute and bury its stockpile. Japan, meanwhile, has its own inventory in storage. Between the two countries is as much as 150 tons of material, representing potentially another 10 to 16 gigawatts.
</p>
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</td>
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Learn more about income generating strategies
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GOING ON A QUEST
</strong>
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<a style="text-decoration: underline; color: #5869ff;">
<strong>
Health startups are turning blood testing and analysis into a sales funnel
</strong>
</a>
</h1>
</td>
</tr>
</table>
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<p style="margin:0;margin-bottom:16px">
As the wellness industry surges, a wave of startups are building sleek apps that reinterpret lab results, often using them as a funnel to sell treatments.
</p>
<p style="margin:0">
Behind nearly all of them sits
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Quest, a decidedly non-startup company
</strong>
</a>
that has been publicly traded for nearly three decades. Quest quietly processes the samples while the startups build businesses on top of the data.
</p>
</div>
</td>
</tr>
</table>
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<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
These businesses sell memberships that come with lab tests — typically blood draws — that are done at Quest locations. Then an AI-powered, clinician-reviewed app analyzes the results and recommends action plans.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
While the words “startup” and “blood testing” may conjure images of Theranos, the fraudulent company founded by Elizabeth Holmes that promised to run dozens of tests from a single drop of blood, the testing here is real. It’s the
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
interpretation and upselling that are new
</strong>
</a>
.
<a style="text-decoration: underline; color: #5869ff;">
<strong>
</strong>
</a>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Quest’s own direct-to-consumer channel grew 30% to 40% on a year-to-date basis as of the third quarter of 2025.
</li>
</ul>
</div>
</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">
Startups rely on companies like Quest or Labcorp because of their national footprint. Even as the industry looks toward at-home blood collection as the next frontier, the technology remains difficult to execute. Current at-home kits are generally considered less accurate than in-clinic draws and detect a narrower range of biomarkers.
</p>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
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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;color:#000;width:600px;margin:0 auto" width="600">
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<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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THE TAKEAWAY
</span>
</h1>
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<p style="margin:0">
It’s a somewhat funny situation, where med tech companies spend a fortune on splashy branding, accumulate customers eager to optimize their health and lifestyle, immerse them in all kinds of tracking and monitoring tech, and then, when it’s time to launch a blood-testing business, just put their own branding on top of Quest or Labcorp,
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
two boring but reliable businesses
</strong>
</a>
that have resisted disruption only because boring but reliable tends to go a long way in medicine.
</p>
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THE BEST THING WE READ TODAY
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<strong>
Discount stores are having a moment
</strong>
</a>
</h1>
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<p style="margin:0">
Everyone loves a deal in 2025 — and
<strong>
Aldi
</strong>
,
<strong>
Walmart
</strong>
, and
<strong>
Dollar Tree
</strong>
are all
<a style="text-decoration: underline; color: #5869ff;">
<strong>
cashing in
</strong>
</a>
. It’s not just for boring must-haves like toilet paper and pantry staples, either: in Walmart’s
<a style="text-decoration: underline; color: #5869ff;">
<strong>
third-quarter
</strong>
</a>
earnings, executives outlined a croissant craze that led the retailer to “remove the shelf” for the baked goods. Another unexpected shift is the increasing proclivity of richer cohorts to hunt for bargains.
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Here’s who’s shopping where.
</strong>
</a>
</p>
</div>
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Presented by State Street Investment Management
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<strong>
30 blue chips. 157 industries.
</strong>
</h1>
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<p style="margin:0;margin-bottom:16px">
On the surface, 30 blue chip stocks may not seem like enough diversification to many investors. But the mega-caps that comprise the Dow Jones Index
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
offer exposure to 179 countries and 157 different industries
</strong>
</a>
.
</p>
<p style="margin:0">
Get broad exposure with
<a rel="noopener" style="text-decoration: underline; color: #5869ff;" target="_blank">
<strong>
DIA
</strong>
</a>
.
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<tr>
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<strong>
Snacks Shots
</strong>
</h1>
</td>
</tr>
</table>
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<tr>
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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">
🏈
<strong>
NFL:
</strong>
This week’s
<strong>
</strong>
Thursday Night Football matchup is a game with major playoff implications as two titans of the NFC West — both playoff-bound at the current standings — take on one another, with the Seattle Seahawks narrowly favored* (
<a style="text-decoration: underline; color: #5869ff;">
<strong>
51% to 49%
</strong>
</a>
) over the conference-leading Los Angeles Rams.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
🥊 Boxing:
</strong>
This Friday, internet impresario Jake Paul will take on Anthony Joshua in the ring at the Kaseya Center in a bout that will be broadcast on
<strong>
Netflix
</strong>
. Joshua is the heavy favorite, with the markets pricing in an
<a style="text-decoration: underline; color: #5869ff;">
<strong>
87% chance of victory
</strong>
</a>
for the two-time heavyweight champion over the YouTube personality turned boxer.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
🏛️
<strong>
Government:
</strong>
FBI Deputy Director Dan Bongino was
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
reported as planning an exit
</strong>
</a>
from his position in the Trump administration, sending the
<a style="text-decoration: underline; color: #5869ff;">
<strong>
market-implied chances of his departure
</strong>
</a>
rising sharply from 7% at the beginning of the week to 83% as of yesterday evening.
</li>
</ul>
</div>
</td>
</tr>
</table>
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<tr>
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<p aria-setsize="-1" id="message-list_1761932419.092419" role="listitem" style="margin:0;margin-bottom:16px" tabindex="0">
</p>
<p style="margin:0;margin-bottom:16px">
*Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
</p>
<p aria-label="Start of unread messages." aria-roledescription="separator" aria-setsize="-1" id="message-list_unreadDivider" role="listitem" style="margin:0" tabindex="-1">
</p>
</div>
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</td>
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</tbody>
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</td>
</tr>
</tbody>
</table>
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<tbody>
<tr>
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</div>
</td>
</tr>
</table>
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<tr>
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<span class="tinyMce-placeholder" style="word-break: break-word;">
What else we’re Snackin’
</span>
</h1>
</td>
</tr>
</table>
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<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">
Waymo,
<strong>
Google
</strong>
’s autonomous driving subsidiary, is in talks to raise more than
<a style="text-decoration: underline; color: #5869ff;">
<strong>
$15 billion
</strong>
</a>
in a funding round that would value the company near $100 billion
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Meanwhile,
<strong>
Amazon
</strong>
is reportedly in talks to invest upward of
<a style="text-decoration: underline; color: #5869ff;">
<strong>
$10 billion
</strong>
</a>
in
<strong>
OpenAI
</strong>
at a valuation of more than
<strong>
$500 billion
</strong>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Not to be outdone,
<strong>
SpaceX
</strong>
is reportedly valued at around
<strong>
$800 billion
</strong>
ahead of its slated 2026 IPO, sending
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Elon Musk’s net worth soaring
</strong>
</a>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Here’s how
<strong>
bitcoin
</strong>
is behaving like a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
no-fundamentals tech stock
</strong>
</a>
</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;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-15" 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>
Global coal consumption is forecast to fall by about 3% by 2030.
</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-16" 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;">
Thursday
</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-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;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">
Initial jobless claims
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
November CPI
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Earnings expected from
<strong>
FactSet
</strong>
,
<strong>
CarMax
</strong>
,
<strong>
Darden Restaurants
</strong>
,
<strong>
Birkenstock
</strong>
,
<strong>
Accenture
</strong>
,
<strong>
FedEx
</strong>
,
<strong>
</strong>
and
<strong>
Nike
</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-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%">
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<p style="margin:0;margin-bottom:16px">
<strong>
Advertiser's disclosures:
</strong>
</p>
<p style="margin:0;margin-bottom:16px">
Nasdaq
<sup>
®
</sup>
and Nasdaq Stock Market® are registered trademarks of Nasdaq, Inc. The information contained herein is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing.
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</p>
<p style="margin:0;margin-bottom:16px">
<strong>
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<br/>
</strong>
</p>
<p style="margin:0;margin-bottom:16px">
<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;">
www.statestreet.com/im
<strong>
.
</strong>
</a>
<strong>
Read it carefully.
</strong>
Investing involves risk. ALPS Distributors, Inc. (fund distributor); State Street Global Advisors Funds Distributors, LLC (marketing agent)
</p>
<p style="margin:0">
<strong>
<a style="text-decoration: underline; color: #1d1d1d;">
State Street Global Advisors (SSGA) is now State Street Investment Management. Please click here for more information
</a>
.
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