Happy Friday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟥 | US Stocks Fell on Friday. Stocks slid once again, with each major index losing close to 1%. The S&P 500 posted its worst week since April.

• 📈 | One Notable Gainer: Hawaiian Electric Company’s stock rocketed 37% higher after Bloomberg reported that the utility company has agreed to pay more than $4 billion to resolve hundreds of lawsuits over the Maui wildfires last year.

• 📉 | One Notable Decliner: Shares of CrowdStrike dove 11% after the cybersecurity firm’s product update caused a major IT outage impacting airlines, hospitals, and other businesses.

• 🏆 | Tomorrow's Trade: Playing in the Big Leagues. Scroll down for more.

Plus, today’s partner helps users access investments in multi-million dollar artworks for just a fraction of the cost of an entire piece.

YESTERDAY’S POLL RESULTS

Are you bullish or bearish on Alphabet (GOOG) over the next 12 months?

🟩🟩🟩🟩🟩🟩 Bullish

⬜️⬜️⬜️⬜️⬜️⬜️ Bearish

MARKET MOVERS

Exxon, Travelers, & Nvidia

SLB (+2%) Oil field company Schlumberger saw its shares rise after scoring a beat on both earnings and revenue (Barron’s)

XOM (-2%) ExxonMobile announced it is selling its Malaysian oil and gas assets to Petronas (Reuters)

HBAN (+4%) Shares of regional bank Huntington Bancshares rose after reporting a beat on earnings and revenue estimates (YF)

TRV (-8%) Insurance company Travelers saw its shares fall after its Q2 financial results showed a beat on earnings, but its revenues missed estimates (YF)

NVDA (-3%) Nvidia’s stock slipped as the chip maker looks to expand its investment empire as the market focuses on geopolitical risks (Barron’s)

TOGETHER WITH MASTERWORKS

This market with 63% price growth isn't just for billionaires anymore…

Over the last 20 years, record prices achieved for Banksy’s art have grown at an astounding 63% compound annual rate. Even more impressive? It's not just the ultra-wealthy benefiting from this phenomenal growth. Thanks to Masterworks.  

Masterworks enables its 820,000+ users to access investments in multi-million dollar artworks by artists like Banksy, Basquiat, and Picasso for just a fraction of the cost of an entire piece. 

When Masterworks sells a painting, like the 16 it’s already sold, investors can get a return on their investment. With 3 recent sales, Masterworks investors realized net annualized returns of 17.8%, 21.5% and 27.3%.

Every offering is limited, and shares can sell out in just minutes, but [Newsletter] readers can skip the waitlist with this exclusive link.

Skip the Waitlist

Past performance is not indicative of future returns, investing involves risk. See disclosures masterworks.com/cd

OVERHEARD ON THE STREET

X: Elon Musk took to X to announce that he is deleting Crowdstrike from all of his companies’ systems.

Bloomberg: Apple’s Vision Pro sales won’t cross 500,000 this year, and domestic sales are expected to drop 75% in the current quarter.

CNBC: Darden Restaurants, the owner of Olive Gardens, announced it will acquire Chuy’s Holdings for approximately $605 million in cash.

BI: Pivotal, the flying vehicle company backed by Google co-founder Larry Page, has quietly pushed back the delivery date for its aircraft shipments until 2025.

CNBC: Housing inflation has remained stubbornly high even as inflation in the broad U.S. economy has cooled significantly from peak levels.

TOMORROW’S TRADE IDEA, TODAY

Playing in the Big Leagues

A New Partnership

Morgan Stanley (MS) analyst Andrew Percoco is bullish on Bloom Energy (BE) as an AI play with lots of potential. He thinks the company is “one of the most underappreciated ways to play the Powering AI theme.” 

Percoco reiterated his overweight rating on Bloom stock following the company’s announcement that it was forming a partnership with AI cloud computing startup CoreWeave. This move will allow Bloom to deploy its solid oxide fuel cells to power CoreWeave’s Illinois data center.

Providing Power

CoreWeave expects to begin utilizing Bloom’s fuel cells in the second half of 2025 to benefit its AI cloud solutions in its quest to compete with bigger tech players. 

Percoco estimated that CoreWeave will require around 15 megawatts of power from Bloom. He’s set a $22 price target on Bloom stock, a 50% upside from yesterday’s close.

Other Partnerships

CoreWeave isn’t the only company looking to team up with Bloom. Last week it was announced that Bloom and Amazon (AMZN) had collaborated with Silicon Valley Power to provide 20 megawatts of fuel cells for an Amazon data center. 

Bloom also announced in May that it had partnered with Intel (INTC) to deploy its fuel cells to help the company’s data centers in California. 

These partnerships underscore Bloom’s ambitions, and there’s no doubt that it's beginning to make waves in the AI energy space.

TOGETHER WITH MASTERWORKS

This market with 63% price growth isn't just for billionaires anymore…

Over the last 20 years, record prices achieved for Banksy’s art have grown at an astounding 63% compound annual rate. Even more impressive? It's not just the ultra-wealthy benefiting from this phenomenal growth. Thanks to Masterworks.  

Masterworks enables its 820,000+ users to access investments in multi-million dollar artworks by artists like Banksy, Basquiat, and Picasso for just a fraction of the cost of an entire piece. 

When Masterworks sells a painting, like the 16 it’s already sold, investors can get a return on their investment. With 3 recent sales, Masterworks investors realized net annualized returns of 17.8%, 21.5% and 27.3%.

Every offering is limited, and shares can sell out in just minutes, but [Newsletter] readers can skip the waitlist with this exclusive link.

Skip the Waitlist

Past performance is not indicative of future returns, investing involves risk. See disclosures masterworks.com/cd

ON OUR RADAR

Axios: Streaming usage in the US hit a new record, with Americans spending 40.3% of their TV viewing time on streaming services in June.

Bloomberg: China’s Third Plenum showed signs of a party bracing for slower growth and prepared to unleash major steps to arrest the property slump.

Reuters: In related news… Chinese consumer spending has failed to respond to government measures such as banks slashing interest rates.

Investing.com: Brazil’s Finance Minister unveiled plans to freeze $2.7 billion from the nation’s 2024 budget as it struggles to meet this year’s fiscal target.

The Guardian: UK wage growth slowed in May to the lowest level in two years amid a cooling jobs market.