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The Dow reached 25,000 for the first time today.
The move from 24,000 on 11/1 was the fastest (in terms of calendar days) ever for a 1000-point move…
Source: WSJ
But adjusted for the percentage difference that 1000-point gain is at 24k vs 10k etc, this latest move is the 4th fastest gain ever with the 1999 surge from 10k to 11k (at 0.4% per day) as the most aggressive buying ever…
Source: WSJ
Perhaps even more shocking is the fact that the in less than a year, The Dow went from 20k to 25k with only 5 stocks responsible for half of those 5000 points.
Nasdaq remains 2018’s biggest winner with Small Caps and The Dow lagging with only a 1.3% gain in 3 days…
Notably, VIX traded with an 8 handle for the 2nd day in a row – this has never, ever in the history of stocks…
Retailers underperformed (hit hard early then ripped back) as Financials were the winners and Utes the losers…
The S&P 1500 Department Stores Index was having its worst day since Oct. 27 before the dip-buyers rescued them too…
Macy’s and J.C. Penney, both of which reported positive holiday sales this morning, have erased earlier gains: M is now down as 7.5%, JCP off as much as 8.7%
L Brands and Buckle sink after reporting Dec. comp. sales that missed estimates, dragging down all but one component (Zumiez) of the S&P 1500 Apparel Retail Index (which was down as much as 3%, its worst day since Nov. 14, before the afternoon dip-buyers stepped in)
HY Bonds ripped back above their 200-day moving average – highest in 2 months…
