Happy Monday 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 rose on Monday. All three major indexes made advancements, continuing the market’s comeback as investors keep their eyes on the Federal Reserve symposium later this week.

• 📈 | One Notable Gainer: Fubo TV’s stock rallied 18% following a judge’s ruling that temporarily blocked a sports streaming service joint venture, Venu, from Walt Disney, Fox, and Warner Bros. Discovery.

• 📉 | One Notable Decliner: Shares of Sweetgreen fell 7% after receiving a downgrade from analysts.

• ☢️ | Tomorrow's Trade: Taking Data Centers Nuclear

Plus, Cboe is providing a list of brokers and trading platforms that offer Cboe index options. Click here to see their recommended brokers.

MARKET MOVERS

AMD, Estee Lauder, Zim Integrated Shipping

AMD (+5%) AMD Buys AI Equipment Maker for Nearly $5 Billion, Escalating Battle With Nvidia (WSJ)

EL (-2%) Estee Lauder forecasts bleak annual results; CEO Freda to depart (Reuters)

ZIM (+17%) Zim Integrated Shipping stock soars on Q2 earnings results (Yahoo Finance)

TMHC (3%) BTIG raises Taylor Morrison Home to buy, sets stock target on growth strategy (Investing.com)

SHAK (1%) Shake Shack stock cut to neutral by Piper Sandler with revised price target (Investing.com)

TOGETHER WITH CBOE

OVERHEARD ON THE STREET

QZ: Another ten states have joined the federal government’s bid to break up Ticketmaster and Live Nation’s alleged illegal monopoly.

Reuters: General Motors said it is laying off more than 1,000 salaried employees at its software and service units worldwide.

BI: Tesla is paying up to $48 per hour for people to wear motion-capture suits to help train its humanoid Optimus robot

WSJ: Starbucks’ new CEO, Brian Niccol, will live in his home in Southern California and can commute to Starbucks’s head office via corporate jet.

TechCrunch: Amazon may shift its India payments into a standalone app to boost Amazon Pay usage.

TOMORROW’S TRADE IDEA, TODAY

Taking Data Centers Nuclear

Powering the Future

Talen Energy’s (TLN) efforts to provide power to data centers via nuclear power plants have resulted in a 107% rise in its stock price since the start of the year. It now boasts an almost $7 billion market cap.

Much of this growth came following the announcement of its $650 million deal with Amazon Web Services (AMZN) to provide a data center facility powered by a nearby nuclear plant.

Now, industry insiders believe this deal could serve as a blueprint for how energy companies can provide for growing tech industry power demands.

Changing the Game

According to Talen’s CEO Mac McFarland, data centers tend to be grouped in clusters, so this one deal could grow into something much larger.

McFarland says that data center deals like this one present a lucrative opportunity for economic development and job creation. According to Ian Zaffino of Oppenheimer, the AWS deal could bring in $225 million in incremental EBITDA for Talen over the next several years.

While the deal has faced industry pushback, Constellation Energy (CEG) and Vistra Corp (VST) have supported Talen in their endeavors, saying that it represents a turning point for the industry.

Poised for Success

McFarland has indicated that in addition to nuclear power, Talen is also interested in providing natural gas to data centers. The CEO recently floated the idea of allowing tech companies to underwrite the construction of new gas plants by inking long-term power contracts before construction starts.

According to Zaffino, Talen’s power business is currently in a strong position. Data center power demand will be a hot topic for years to come, and Talen is at the forefront of innovation to meet rising demand.

TOGETHER WITH CBOE

ON OUR RADAR

CNBC: The SEC fined billionaire Carl Icahn $2 million in a settlement where he allegedly failed to disclose personal margin loans pledged against his stock.

CNN: The Canadian owner of Circle K convenience stores has made a bid for Japanese-owned 7-Eleven.

The Verge: Waymo previewed its new robotaxi, an electric minivan manufactured by the Chinese automaker Zeekr with fewer sensors.

CNBC: Despite higher prices, most Americans can handle moderate expense shocks, says a JPMorgan analysis of 5.9 million households.

Reuters: Fed Chair Jerome Powell now faces a key test as joblessness rises, inflation eases, and interest rates remain at a 25-year high.

FRIDAY’S POLL RESULTS

Are you bullish or bearish on D.R. Horton (DHI) over the next 12 months?

🟩🟩🟩🟩🟩🟩 Bullish 🐂 

🟨⬜️⬜️⬜️⬜️⬜️ Bearish 🐻