EDITOR'S NOTE

It's a late-cycle market with slowing economic growth around the world and a stock market that has been bouncing not far below its all-time highs.

What's an investor to do? Well, some are speculating big on Tesla, Virgin Galactic and a hydrogen engine maker called Plug Power — doubling or tripling the value of these stocks, writes CNBC's Michael Sheetz.

These are now the "poster boys for speculation," says Peter Boockvar, chief investment officer at Bleakley Advisory Group. They're the cool stocks — "and what's cooler than electric vehicles and space?"

Beware: Such irrational surges in the face of slowing growth may just be warning signs. And for more warning signs, read CNBC's Maggie Fitzgerald's piece on how to tell if a bear market is on the way.

Also in this edition of Weekend Brief, CNBC's Pippa Stevens writes about new hope for the heavily battered energy industry. Oil and gas companies are finally starting to partner with tech companies that can help them streamline operations and cut costs, creating a market that could grow by 500% over the next five years.

"The digital age is finally dawning for Oil & Gas," Barclays said in January in a note to clients. "We see a market poised to erupt over the next five years."

Enjoy the rest of the holiday weekend and thanks for reading Weekend Brief.  Email your thoughts at EveningBrief@nbcuni.com or message me on Twitter @tellittoal.

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THE WEEK AHEAD

YOUR WEEKEND BRIEFING