JOHN AUTHERS: January the 25th is in the books here on Wall Street. Here's the New York Minute. Hallelujah, we have Dow 20,000 at last. And as you can see, it's not necessarily the best indicator of the US stock market. It's dramatically uncoupled from the S&P 500, since the election. The reason for that is that it's wildy overweighted in Goldman Sachs, which you can see has dramatically outperformed itself, since the election, even though that election was seen as a blow against the financial elite.
Now even if the Dow isn't the greatest of indicators, the main news today that pushed it through the landmark was very important. This is Boeing's share price. They had very strong earnings today. And as you can see, that's moved Boeing, a big industrial bellwether, to an all time high.
There are some other real indicators today that matters. Bond yields rose across the world. You saw the FTSE all worlds index closing in on an all time high, which is very significant. Perhaps, most intriguing, if you take a look at the performance of Mexican stocks, measured in dollars, Mexico of all places has had the strongest stock market since inauguration day in the world. And that's the New York Minute.