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  <div class="sailthru-emco-preheader" style="display: none; max-height: 0px; overflow: hidden;">
   Both the S&amp;P 500 and Russell 2000 set new all-time closing highs on Thursday. Technology was the worst-performing sector ETF, as Oracle’s underwhelming quarterly results kneecapped the AI trade, sending the Nasdaq 100 lower.
  </div>
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                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   Hey Snackers,
                  </span>
                 </h1>
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                  <p style="margin:0;margin-bottom:16px">
                   Companies in the air taxi market, dominated by
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Archer Aviation
                    </strong>
                   </a>
                   ,
                   <strong>
                    Joby Aviation
                   </strong>
                   , and the newly public
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Beta Technologies
                    </strong>
                   </a>
                   , are not shy about letting their investors know what they’re up to. Press releases about partnerships, new acquisitions, new markets, and certification updates hit our inboxes frequently. One might say
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     <em>
                      very
                     </em>
                    </strong>
                    <strong>
                     frequently
                    </strong>
                   </a>
                   , and we’re not the only ones who’ve noticed this: SMG Consulting made a
                   <strong>
                    “
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     tongue-in-cheek infographic
                    </strong>
                   </a>
                   <strong>
                    ”
                   </strong>
                   mapping each company’s “flight hours flown per press release” ratio.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   Both the S&amp;P 500 and Russell 2000 set
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     new all-time closing highs
                    </strong>
                   </a>
                   on Thursday. Technology was the worst-performing sector ETF, as Oracle’s underwhelming quarterly results
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     kneecapped the AI trade
                    </strong>
                   </a>
                   , sending the Nasdaq 100 lower, as we’ll dive into below.
                   <br/>
                   <br/>
                  </p>
                  <p style="margin:0">
                   <strong>
                    🧠 Trivia time…
                   </strong>
                   Test yourself on fun facts, recent news stories, and more 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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                  <ul style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    What was the top song of 2025?
                    <br/>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Check your answer.
                     </strong>
                    </a>
                   </li>
                  </ul>
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                  <!--[if mso]>
<v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" xmlns:w="urn:schemas-microsoft-com:office:word"   style="height:20px;width:296px;v-text-anchor:middle;" arcsize="27%" fillcolor="#5869ff">
<v:stroke dashstyle="Solid" weight="2px" color="#000000"/>
<w:anchorlock/>
<v:textbox inset="0px,0px,0px,0px">
<center dir="false" style="color:#ffffff;font-family:Arial, sans-serif;font-size:14px">
<![endif]-->
                  <span class="button" style="background-color: #5869ff; mso-shading: transparent; border-bottom: 2px solid #000000; border-left: 2px solid #000000; border-radius: 7px; border-right: 2px solid #000000; border-top: 2px solid #000000; color: #ffffff; 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; padding-left: 11px; padding-right: 11px; text-align: center; width: auto; word-break: keep-all; letter-spacing: normal;">
                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     FUTURE UNCERTAIN, ASK AGAIN LATER
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
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                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Oracle’s conference call exacerbated the two biggest reasons why investors are worried about its future
                   </strong>
                  </a>
                 </h1>
                </td>
               </tr>
              </table>
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                  <p style="margin:0">
                   Investors
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     had two major concerns
                    </strong>
                   </a>
                   about
                   <strong>
                    Oracle
                   </strong>
                   heading into its earnings report:
                  </p>
                 </div>
                </td>
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                  <ul style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    How much debt will the company need to support its ambitious capital expenditure plans?
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    How quickly will these outlays turn into high-margin business?
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   Those worries had
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     driven the stock down 30%
                    </strong>
                   </a>
                   from its record close on September 10, the session after its last earnings report, and fostered
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     a surge in its credit default swap spreads
                    </strong>
                   </a>
                   . Its quarterly results weren’t that helpful in knocking back those questions.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-6" 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 style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Oracle’s
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Q2 2026 results showed
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    revenues and cloud computing sales were light compared to expectations, and that capex of $12 billion was $3.8 billion higher than the consensus estimate.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Then, early in the conference call, management said capital spending in this fiscal year (which ends May 31, 2026) would be $15 billion higher than previously envisaged.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Deutsche Bank’s Brad Zelnick asked, “Very specifically, how much money does Oracle need to raise to fund its AI growth plans ahead?” That the reply began with
                    <strong>
                     “
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      it’s hard to answer that question exactly
                     </strong>
                    </a>
                    <strong>
                     ”
                    </strong>
                    was not particularly encouraging.
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-7" 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">
                   Ben Reitzes of Melius Research then noted that the company recently offered guidance for margins among its AI cloud customers to be in the 30% to 40% range over the life of a customer contract. “I guess my question is, how long will it take your AI margins across all your OCI data enters to ramp to that level and what needs to happen to get there?” he asked.
                  </p>
                  <p style="margin:0">
                   Oracle’s principal financial officer, Doug Kehring, began,
                   <strong>
                    “
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Look, the answer is it really depends.
                    </strong>
                   </a>
                   <strong>
                    ”
                   </strong>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
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       <tbody>
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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">
           <tbody>
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             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                <td class="pad" style="padding-bottom:8px;padding-top:24px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   THE TAKEAWAY
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   What makes this answer
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     perhaps a little unsatisfying
                    </strong>
                   </a>
                   is that recent results do not inspire much confidence in the speed of Oracle’s build-out and, in turn, its ability to turn its
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     massive backlogged RPO
                    </strong>
                   </a>
                   into revenues.
                  </p>
                  <p style="margin:0">
                   “Oracle missing estimates on cloud infrastructure sales — up 66% in constant currency, vs. consensus of 69% — we believe were due to supply constraints that are also affecting other hyperscale cloud providers,” wrote Bloomberg Intelligence analysts Anurag Rana and Andrew Girard.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
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                 <div align="center" class="alignment">
                  <a style="color:#ffffff;text-decoration:none;" target="_blank">
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                      Read more
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                 <div align="left" class="alignment">
                  <!--[if mso]>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     STOP SIGNS
                    </strong>
                   </span>
                  </span>
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                 <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>
                    Google had a rough day
                   </strong>
                  </a>
                  <strong>
                  </strong>
                 </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">
                   <strong>
                    Alphabet
                   </strong>
                   fell over 2% yesterday amid a confluence
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     of bad breaks
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   and the fact that, as we mentioned, the AI trade generally was struggling yesterday.
                  </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 style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     OpenAI
                    </strong>
                    CEO Sam Altman
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      said
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    Google’s much-touted Gemini 3 model “had less of an impact on our metrics than maybe we feared.” This is generally not what one hopes to hear from one’s archrival.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Meanwhile, Waymo
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      recalled
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    basically all of its vehicles — 3,067 — for a software update to fix a high-profile problem they had with driving past stopped school buses.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    <strong>
                     Disney
                    </strong>
                    announced a $1 billion investment in competitor OpenAI. It then subsequently
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      sent
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    Google a cease and desist letter accusing it of infringing Disney’s copyrights.
                   </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%">
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                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   The letter alleges that “Google is infringing Disney’s copyrights on a massive scale, by copying a large corpus of Disney’s copyrighted works without authorization to train and develop generative artificial intelligence (‘AI’) models and services, and by using AI models and services to commercially exploit and distribute copies of its protected works to consumers in violation of Disney’s copyrights.”
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
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       <tbody>
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         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
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             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   THE TAKEAWAY
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   The Disney news
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     might be the worst news of the day
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   for Alphabet; it’s never great when the most powerful company in the industry makes a compact with your rival — the agreement will grant Sora and ChatGPT more than 200 characters from Disney properties like Marvel, Pixar, and “Star Wars” — and immediately starts a fight with you.
                  </p>
                 </div>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     THE BEST THING WE READ TODAY
                    </strong>
                   </span>
                  </span>
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                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Would a social media ban see chronically online teens turn to AI chatbots?
                   </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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                  <p style="margin:0">
                   Pew Research Center published an update to its 2025 survey on
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     teens and social media
                    </strong>
                   </a>
                   and found that
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     record numbers
                    </strong>
                   </a>
                   of American teens are using social media like YouTube and TikTok every single day and an
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     alarming number of teens
                    </strong>
                   </a>
                   say they were on them “almost constantly.” Perhaps more concerning, though, is Pew’s findings about young people’s AI chatbot use and what it portends for the future.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
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                     <strong>
                      Go deeper
                     </strong>
                    </span>
                   </span>
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                  </a>
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      <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%">
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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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             <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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                     <span style="word-break: break-word;">
                     </span>
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                 </div>
                </td>
               </tr>
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              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                <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>
                   Snacks Shots
                  </strong>
                 </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 style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     ♞⚓
                    </strong>
                    <strong>
                     College Football:
                    </strong>
                    It’s the annual Army-Navy game on Saturday, and the Midshipmen are roundly considered the favorites, with Navy having a
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      69% chance of victory
                     </strong>
                    </a>
                    per prediction markets* over the Black Knights.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     ✨ AI: OpenAI
                    </strong>
                    ’s release of GPT-5.2 has
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      shaken up the race
                     </strong>
                    </a>
                    for best AI on LMArena’s leaderboard at the end of the year. Gemini’s chances have fallen sharply to just north of 70%, with ChatGPT’s chances increasing to
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      roughly one in four
                     </strong>
                    </a>
                    .
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                     </strong>
                    </a>
                   </li>
                   <li style="Margin:0 0 8px 0">
                    🏈
                    <strong>
                     Heisman:
                    </strong>
                    The Heisman Trophy winner will be announced on Saturday at 7 p.m. ET, and the prohibitive favorite according to Polymarket is Indiana quarterback Fernando Mendoza, who has a
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      95% chance of winning the award
                     </strong>
                    </a>
                    .
                   </li>
                  </ul>
                 </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;padding-top:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;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>
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                   <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-10" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <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-bottom:5px;padding-left:10px;padding-right:10px;padding-top:5px">
                 <div style="margin-left:-20px">
                  <ul style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    It’s not quite killer doll M3GAN-level, but a report found that today’s AI-powered toys are telling kids
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      how to sharpen knives, find matches
                     </strong>
                    </a>
                    , and more
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Now that
                    <strong>
                     TIME
                    </strong>
                    has crowned the “Architects of AI” as its Person of the Year, here’s
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      a brief visual history of the award
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    The US Senate
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      rejected competing healthcare plans
                     </strong>
                    </a>
                    as Biden-era enhanced Affordable Care Act tax credits are set to expire
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    After a quarter century,
                    <strong>
                     Cisco
                    </strong>
                    surpassed its
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      dot-com bubble closing high
                     </strong>
                    </a>
                   </li>
                   <li style="Margin:0 0 8px 0">
                    How delivery fees are eating into tips,
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      charted
                     </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-11" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;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-12" 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:#fff;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>
                     A new pass to access American Airlines’ loyalty program costs $5,000.
                    </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-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;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-14" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
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