At U.S. Global Investors, thematic investing starts here. Through our award-winning research and Smart Beta 2.0 methodology, we educate investors on high-conviction themes ranging from luxury markets and precious metals to global airlines, commodities and aerospace & defense. If you’re a curious investor looking to explore the trends shaping tomorrow’s markets, we invite you to learn more about what we offer. Sign up for FREE research and explore our suite of products at usfunds.com.

U.S. spot Bitcoin ETFs recorded $1.08 billion in net inflows over three days, signaling renewed investor demand. However, average daily inflows since July 1 have reached just $86 million, compared with $202 million–$294 million during previous major rallies. The gap suggests that stronger and more sustained institutional buying may be needed to support further Bitcoin price gains.

The AI boom is creating enormous wealth and a new wave of giving. Anthropic, the company behind Claude AI, plans to dedicate 5% of its shares to a public benefit fund, potentially worth $75 billion to $100 billion. Its cofounders have also pledged much of their personal shares to charity. Could AI wealth reshape the future of philanthropy? CEO Frank @bulldogholmes explores this emerging trend in his latest article: usfunds.com/resource/elon-mu…

Widening crack spreads can be good news for refiners. When the gap between crude oil costs and refined fuel prices grows, refiners can earn more from turning oil into gasoline and diesel. Refining margins surged 60% quarter-over-quarter, potentially supporting stronger earnings, more cash flow and shareholder returns. The key? Whether tight fuel supplies continue to support margins. Learn more and follow along at usfunds.com.

Candy may be the treat of the season, but gold has a much longer history of holding value. For centuries, investors have turned to gold as a store of value and a way to diversify their portfolios. This Halloween, enjoy the candy, but don't overlook gold's place in a long-term investment strategy! Learn more about the yellow metal, including ways to gain exposure, at usfunds.com.

Nasdaq connects capital with opportunity, and Winn Bartlett, Nasdaq's managing director of listings, sees Texas as a bellwether for the economic growth and opportunity that drive capital markets.

L’Oréal shares are rising after the beauty giant delivered stronger-than-expected Q3 sales growth of 7.7%, beating forecasts of 5.9%. A rebound in China and strong demand for luxury beauty products are encouraging signs for investors watching consumer spending and the global beauty market. Learn more about the luxury goods space, including ways to gain portfolio exposure, at usfunds.com.

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Airline equities have tended to outperform in the final three months of the year, with the NYSE Arca Global Airlines Index gaining over 3% on average in October. This is followed by an even stronger showing in November and a 3% increase in December on average. According to the Bank of America, the industry has historically outperformed the S&P 500 in three of the last six months of the year—namely September, October and November.

Wheels up! @SouthwestAir (a stock we own!) delivered a strong third quarter, with operating revenue up 21.2% year over year to $8.42 billion, beating estimates of $8.26 billion. Adjusted earnings per share (EPS) of $0.66 also topped expectations of $0.61. For investors, strong results offer encouraging insight into travel demand and the outlook for the aviation industry. Learn more by visiting usfunds.com.

Gold prices don’t move because of a single headline. Long-term forces including growing money supply, government borrowing, central bank buying, rising production costs, constrained new supply and increasing demand from investors and emerging markets are all influencing the outlook for gold. Our interactive report shows how several of these forces are increasingly working in the same direction. Check it out: usfunds.com/resource/whats-d…

Texas is reshaping American finance. From the Alamo to “Y’all Street,” the Lone Star State is becoming a major hub for business, markets, and capital. In the latest episode of Return on Ideas, Holly speaks to @Nasdaq’s Winn Bartlett talks about the launch of Nasdaq Texas and why so many financial institutions are moving here.

Two weeks until the midterms. Nervous? History says don’t be. Since 1962, the S&P 500 has risen in the 12 months after every single midterm election, with an average gain of 14.2%. Are you staying invested through November? usfunds.com/resource/why-inv…

Florida gained $20.6 billion in net income from people moving in. California lost $11.9 billion and New York lost $9.9 billion. Have you, or someone you know, left a high-tax state? What finally made you go? usfunds.com/resource/luxury-…

SSR Mining (a stock we own!) is expanding its growth potential. The company has agreed to buy Roxmore Resources for C$6.75 per share in cash, adding the Converse Gold Project just 6 km from its Marigold mine. Marigold’s updated plan calls for 20 more years of mining and 4.63 million ounces of gold reserves. The nearby project could help SSR extend the mine’s life and create more long-term value. Follow along and learn more at usfunds.com.

Are you planning to travel this holiday season?

A Tesla Roadster that can fly?! Tesla (a stock we own) has investors paying close attention to its latest reveal... Shares moved higher after the debut, but can the momentum last? Production is expected to begin in 2028. Follow along with market moving news like this and more at usfunds.com.

Back in Zurich next month! U.S. Global Investors CEO Frank @bulldogholmes will deliver a keynote address at the Swiss Mining Institute on Nov. 18 at The Dolder Grand. Celebrating its 15th anniversary, SMI brings together leading investors and mining companies from around the world. We look forward to being part of the conversation on the global resources sector!

Global factories are the busiest they’ve been since early 2022. The JPMorgan Global Manufacturing PMI hit 53.0 in September, driven by AI infrastructure, defense spending and inventory building. The PMI has historically been a leading indicator for goods and commodities, and it’s flashing green! Learn more by visiting usfunds.com.