Good monday morning. Welcome to squawk alley. I am carly fiori i am Carl Quintanilla with Morgan Brennan and jon fortt a big week in Northern California more from jon in a moment. What a day tons of record highs for stocks and indexes overall. The dow hits an all time trading high, First Time Since july. We turn to mike santoli with whats happening. The big picture in terms of overall market is removal of points trade deescalation, low yields it is happening at the same time where some more emerging Consumer Tech companies have been punished brutally last month and last week, wayfair, grub hub, etsy, pinterest, beyond meat, yelp struggled. Whats going on here is i think some of the real emerging Business Models are having a reckoning, relationship with the consumer through an app is not enough and essentially after uber and wework debacle, people wonder if the leading edge of Consumer Tech is worth owning the question now is what it means for the overall market in a sense, it ratifies
Best trade of the year, and as those stocks soar, Consumer Staples are selling off. So in a world where investors are hunting for income and appreciation, is energy the place to be . Pete, what do you say . I still there is room to the up side. I like the way energy is trading, and we get towards 51, some of the news pushing the Energy Stocks higher. I think its pretty interesting. You look at the xle today, as a matter of fact, up over 2 . Where has been by far the most active area in the options world over the next couple weeks, energy, baker hughes, halliburton. You look at the earnings report, very, very impressive. So do i think its over for energy . Absolutely not. I think were in a new range and i think right now were probably in the middle part. I think a little more up side. Where in energy would you go . Services, first of all. Halliburton the best of breed in that space. Schlumberger more global. If you listen, north america spend and margins going higher. And i think these