Dow Tops 25k As Gold Surges To All-Time Record Win Streak

“Life’s a bit of shit, when you look at it…”

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…

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.

Boeing +898pts
UnitedHealth +429pts
Caterpillar +407pts
3M +406pts
Home Depot +355pts

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…

While stocks just can’t be stopped, nor can the Treasury yield curve… to the downside…

2s10s traded with a 49bps handle for the first time this cycle…

And 2s30s tumbled to new cycle lows…

Yesterday’s brief bounce in the dollar is over…

Commodities are up for the 14th day in a row – a record win streak…

WTI/RBOB closed higher, bouncing back from early losses…

One more record for the day was in precious metals as gold futures rallied for the 10th straight day – equaling the record win streak of all-time from 7/18/2011 and 9/9/1994… (Gold is up 14 of the 15 days since The Fed hiked rates)