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
Launches. Tv googleour top story, agreeing to buy fitbit for 2. 1 billion in cash. Taylor San Francisco blockchain the fitness tracking Device Company jumped on the news. Will week is wrapping up. Divina. Ned by garrett there is still a lot of skepticism around the world what does fitbit know about about blockchain and cryptocurrencies. Here to break it all down and hardware and software and health that google doesnt . Tell us all about it is the garrett a good question. Firms head of research. Google has been rumored about yourt to talk about what talking about a smartwatch. Firm is. On your website you have it very clear picture of solving the scaling issues of going and the but the operating system has been a collapsed and is not as Security Issues is that how you popular as android. What they are doing is saying lets buy fitbit and double our business from that and build our business from that. Fitbit is seeing its third annual year of sales decline. Why is it an attractive choice
Workers are not celebrating. To infinity and beyond. Richard bransons Virgin Galactic could be the first Space Tourism business to go public. We will analyze demand. But first, top stories. Alphabet earnings. The report was impacted by heavy investment in googles Cloud Computing business. Google has been Building Data centers and hiring sales people for its cloud unit that runs services over the internet. Joining me, our correspondent from bloomberg intelligence. Cloud is all the rage, potential for future growth. What did you make of it . Like you said, they are spending. They are showing results. What we are seeing for the next year, they will take the center focus and you will get success here and they have the capacity to compete. Microsoft. And you will see this being a bigger deal for google but at a cost. Taylor what is your take on keeping up in the Cloud Business . It will take continued investment as we just said, but there is a huge potential for payoff. Taylor i want to tal
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