Wall Street is breaking out the party hats — the Dow 15,000 party hats, that is.
The stock market has been on a tear lately, culminating in the Dow Jones Industrial Average closing above 15,000 for the first time ever Tuesday.
This is cause for either celebration or concern, depending on whether you're a bull or a bear.
On Wednesday, the Wall Street Journal highlighted just how quickly the Dow's meteoric rise has occurred.
It took just 64 trading days for the market to go from 14,000 to 15,000, the Journal reported, making it one of the fastest thousand-point runs in the index's history.
In fact, the market hasn't had a three-day losing streak in 87 trading days — the longest such streak since 1958.
To put this in perspective, during the "irrational exuberance" of the late 1990s, it took the Dow 104 trading days to go from 7,000 to 8,000, another 181 days to make it to 9,000, 245 days — and a brief bear market — to break 10,000 before taking just 23 days to surge to the 11,000 mark.
Of course, then the bubble burst and it took the market about seven years to start hitting new highs again.
But as Wall Street surges, it's interesting to take a look at how the local economy is doing in comparison.