The Week Clothes with the S&P 500 and the NASDAQ both hitting new record highs.

The biggest percentage gainer on the day though was the Dow Jones, but it did not hit a new

record high.

See, the problem with the Dow Jones is it doesn't have enough tech companies in it.

The Dow Jones is not a market cap weighted index.

It's a price weighted index and so it is not being distorted as much as the other indexes

by these mega cap stocks that are up.

Although the big gainer of the day, Apple, which is another one of these stocks that is

doing a split, I talked about Tesla.

Apple is going to be doing a four for one stock split.

Again, it's meaningless as far as the valuation of the company.

But when you have a speculative mania like the one we have now, it's just another reason

for speculators to pile into the stock.

Apple now is the world's only $2 trillion company.

I think the market cap is about $2.1 trillion.

It was up almost five and a half percent today.

So Apple was responsible for almost all of the Dow Jones 190 point gain on the day.

Now Apple has a 10% weighting in the Dow Jones.

So it is responsible for 10% of the move in the Dow.

But the reality is that Apple represents a much larger percentage of the Dow when it comes

to market cap.

In fact, Apple is about 23.3% of the market cap of the Dow 30 companies.

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