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   After three bad years, energy stocks have emerged as the biggest market winners so far in 2026
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                   Presented by
                  </p>
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                   Hey Snackers,
                  </span>
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                  <p style="margin:0;margin-bottom:16px">
                   If you’ve ever wondered how Californians can possibly afford the state’s sky-high home prices, the answer is simple: they’re
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     inheriting their homes
                    </strong>
                   </a>
                   . Inherited homes made up nearly one in five property transfers in California last year,
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     more than double the rate
                    </strong>
                   </a>
                   across the rest of the US.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   The S&amp;P 500, Nasdaq 100, and Russell 2000
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     rebounded on Wednesday
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   as strong economic data, including a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     surprise jump in private sector hiring
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   and
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     better-than-expected growth
                    </strong>
                   </a>
                   in the US service economy, helped buoy stocks. The consumer discretionary and tech sectors led gains.
                  </p>
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Bitcoin
                    </strong>
                   </a>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     soared above $70,000
                    </strong>
                   </a>
                   , exceeding a key resistance area flagged by
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     multiple analysts
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   in
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     recent weeks
                    </strong>
                   </a>
                   . Amid the crypto rally,
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     solana
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   rose after a
                   <strong>
                    “
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     breakout month
                    </strong>
                   </a>
                   <strong>
                    ”
                   </strong>
                   for stablecoins.
                  </p>
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                    With the US on the offensive, energy stocks have shot to the top of the S&amp;P 500 this year. What comes next?
                   </strong>
                  </a>
                 </h1>
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                  <p style="margin:0">
                   After three straight years of dismal performance, energy stocks have emerged
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     as the biggest market winners so far in 2026
                    </strong>
                   </a>
                   , posting the biggest gains of the 11 sectors that constitute the S&amp;P 500.
                  </p>
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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">
                    This group of large-cap oil and gas producers, refiners, fuel retailers, and field services companies has jumped more than 20% since American special forces captured and extradited Venezuelan President Nicolás Maduro and
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      launched a clampdown
                     </strong>
                    </a>
                    on sanctioned oil vessels seeking to transport Venezuelan crude.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Energy stocks coasted to the top of the stock market charts thanks to new Iran-related risks, but the gains came before the rockets, drones, and F-35s actually started flying.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    But going forward, further surges seem far from guaranteed. That’s partly because in a war,
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      the enemy gets a vote
                     </strong>
                    </a>
                    .
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
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                  <p style="margin:0">
                   Iran has responded with strikes on energy infrastructure throughout the region and the partial closure of the Strait of Hormuz — a crucial shipping choke point through which 20% of global oil and gas passes. The longer the partial closure lasts, experts say, the worse it will be for the world economy, and that includes oil and gas companies.
                  </p>
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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">
                    On Monday, Iran hit Saudi Arabia’s largest refinery,
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Ras Tanura
                     </strong>
                    </a>
                    , temporarily halting production.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Qatar Energy halted production of liquefied natural gas at
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      its Ras Laffan facility
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    — the world’s largest LNG plant — after an attack.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Iranian strikes have also reached a refinery in Kuwait, shuttered production in Iraqi Kurdistan, and closed down several Israeli gas fields, according
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      to Reuters
                     </strong>
                    </a>
                    .
                   </li>
                  </ul>
                 </div>
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                  <p style="margin:0">
                   The disruptions help explain the evolving reaction of markets to the situation. After rising on Monday, US
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     energy stocks had a mixed reaction
                    </strong>
                   </a>
                   to the spreading war on Tuesday.
                  </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>
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                  <p style="margin:0">
                   Commodities analysts are carefully watching whether any element of Iranian leadership emerges as a potential partner to work with the US, essentially reprising the role of
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Venezuela’s Delcy Rodríguez
                    </strong>
                   </a>
                   , who has been a relatively pliant acting president since the American military captured and transported her predecessor, Maduro, to face trial in the US. That sort of scenario is harder to imagine in Iran. Regime antipathy to the US has been central to the Iranian government since the founding of the Islamic Republic in the late 1970s. But it’s
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     not impossible
                    </strong>
                   </a>
                   .
                  </p>
                 </div>
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                   Actively trading the S&amp;P 500? Futures offer unique capital efficiencies that give traders the opportunity to enter positions with 5-10% of the position size.
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                   Margin comes with increased risks. Losses as well as gains will be magnified with the greater amount borrowed.
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                     IS WATER WET?
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                    Does Live Nation-Ticketmaster have a monopoly on the live music industry?
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                   During his opening statement on Tuesday, David Dahlquist, attorney for the
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                     US Justice Department
                    </strong>
                   </a>
                   ,
                   <strong>
                   </strong>
                   told jurors: “The concert ticket industry is broken, in fact the concert industry itself is broken. It is controlled by a monopolist.
                   <strong>
                   </strong>
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                     It is controlled by Live Nation
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                   .”
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                      Live Nation
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                    </a>
                    posted
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      record-breaking total revenues
                     </strong>
                    </a>
                    of $25.2 billion in 2025, up 9% from the year before, with its biggest quarter landing, as it often does, in the summer months of Q3.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    The company’s concert division posted around $20.9 billion in revenue across 2025 (equivalent to 83% of its year-end total) while its ticketing division accounted for just $3 billion (~12%).
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Though concerts have long been the beating heart for revenue in the Live Nation business, its ticketing system is actually the profit center, with a 37% adjusted operating profit margin, netting $1.1 billion over the period — compared with a much smaller 3% margin for concerts (~$687 million).
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Even with concert ticket prices much higher than before — a 2025 survey from
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Pollstar
                     </strong>
                    </a>
                    found that the average US ticket price for the top 100 tours in the US was $135.92, up 41% from 2019 — more people than ever are going to live events.
                   </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%">
               <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">
                   The DOJ first filed the antitrust lawsuit back in 2024, accusing Live Nation — which merged with ticket sales and distribution company Ticketmaster
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     in 2010
                    </strong>
                   </a>
                   — of
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     illegally monopolizing the live music market
                    </strong>
                   </a>
                   .
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-6" 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-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">
                   By contrast, Live Nation’s opening remarks for what could be
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     the most consequential legal battle
                    </strong>
                   </a>
                   the modern music industry has seen took a more jovial tone. The Verge
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     reported
                    </strong>
                   </a>
                   that the entertainment giant’s counsel pointed mostly to the good times, with slides of popular artists’ concerts underscoring its argument that the company is “all about bringing joy to people’s lives and doing it lawfully.”
                  </p>
                  <p style="margin:0">
                   <strong>
                    Go Deeper:
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     How LiveNation quietly takes your money at every possible opportunity
                    </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-8" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;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>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-9" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;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:20px;width:259px;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>
                     THE BEST THING WE READ TODAY
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <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">
                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Investors are itching to buy the dip in memory stocks
                   </strong>
                  </a>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   The intense drubbing in South Korean stocks, with the benchmark Korean index falling nearly 20% in its first two trading days of the week, represented a serious threat to the hottest AI trade: memory stocks like
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Micron
                    </strong>
                   </a>
                   ,
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Sandisk
                    </strong>
                   </a>
                   ,
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Western Digital
                    </strong>
                   </a>
                   , and
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Seagate Technology Holdings
                    </strong>
                   </a>
                   . South Korea’s market is
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     dominated by two high-bandwidth memory giants
                    </strong>
                   </a>
                   :
                   <strong>
                    SK Hynix
                   </strong>
                   and
                   <strong>
                    Samsung
                   </strong>
                   . But on Wednesday, US investors rushed to buy the dip. And then Sherwood News Markets Editor Luke Kawa noticed something
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     even more interesting
                    </strong>
                   </a>
                   .
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="10" cellspacing="0" class="button_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad">
                 <div align="center" class="alignment">
                  <a style="color:#ffffff;text-decoration:none;" target="_blank">
                   <!--[if mso]>
<v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" xmlns:w="urn:schemas-microsoft-com:office:word"  href="https://link.sherwood.news/click/44498827.1423130/aHR0cHM6Ly9zaGVyd29vZC5uZXdzL21hcmtldHMvaW52ZXN0b3JzLWFyZS1pdGNoaW5nLXRvLWJ1eS10aGUtZGlwLWluLW1lbW9yeS1zdG9ja3MvP3V0bV9zb3VyY2U9c25hY2tzJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXNuYWNrc18yMDI2MDMwNSZ1dG1fY29udGVudD1lYmMwZjg1MWI0NDJmNDQ4MjljMWE0ZWViODE0ODFlOA/65c45ba339ac936dfb3135a2Ebffbec02"  style="height:47px;width:152px;v-text-anchor:middle;" arcsize="9%" fillcolor="#5869ff">
<v:stroke dashstyle="Solid" weight="0px" color="#5869ff"/>
<w:anchorlock/>
<v:textbox inset="0px,0px,0px,0px">
<center dir="false" style="color:#ffffff;font-family:Arial, sans-serif;font-size:18px">
<![endif]-->
                   <span class="button" style="background-color: #5869ff; mso-shading: transparent; border-bottom: 0px solid transparent; border-left: 0px solid transparent; border-radius: 4px; border-right: 0px solid transparent; border-top: 0px solid transparent; color: #ffffff; display: inline-block; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 18px; font-weight: 400; mso-border-alt: none; padding-bottom: 5px; padding-top: 5px; padding-left: 20px; padding-right: 20px; text-align: center; width: auto; word-break: keep-all; letter-spacing: normal;">
                    <span style="word-break: break-word; line-height: 36px;">
                     <strong>
                      Mind the gap
                     </strong>
                    </span>
                   </span>
                   <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                  </a>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td 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-10" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom: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-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">
                 <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>
                     Rates:
                    </strong>
                    A war in the Middle East, and the resultant
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      upward pressure on oil prices
                     </strong>
                    </a>
                    ,
                    <strong>
                    </strong>
                    has caused traders to reverse bets that the Federal Reserve will cut interest rates in the first half of this year. The prediction market-implied
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      odds* of a rate cut in June are less than 38%
                     </strong>
                    </a>
                    . Last week, the odds of a rate cut in June were around 60%.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    📊
                    <strong>
                     Elections:
                    </strong>
                    The Texas Senate Republican primary is headed for a runoff between incumbent Sen. John Cornyn and Attorney General Ken Paxton. With
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      a potential endorsement from President Trump teased
                     </strong>
                    </a>
                    , Cornyn’s seen as having the edge, with prediction markets
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      favoring him by 89%
                     </strong>
                    </a>
                    .
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="10" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad">
                 <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>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-11" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <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">
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Nvidia
                     </strong>
                    </a>
                    gained after billionaire Tesla bull Leo KoGuan tweeted that he purchased
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      1 million shares
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Bank of America upgraded
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Tesla
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      on its robotaxi future
                     </strong>
                    </a>
                    .
                    <strong>
                    </strong>
                    Meanwhile, CEO Elon Musk predicts Tesla will
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      reach AGI first
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Apple
                     </strong>
                    </a>
                    is releasing a
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      $599 Google Chromebook competitor
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    The Hustle spotlights bizarre businesses actually making money, strange trends gaining traction, and unconventional paths to profit.
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Subscribe today
                     </strong>
                    </a>
                    .
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
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                    Earnings expected from
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                     <strong>
                      Ciena
                     </strong>
                    </a>
                    ,
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                      JD.com
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                    ,
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                      Kroger
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                    ,
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                      Victoria’s Secret
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                    ,
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                      Costco
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                    , and
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                      Marvell Technology
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                   SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025
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