Midday Market: Dow Rockets Past 25,000 as Volatility Plummets to Low Streak

U.S. stocks continued to rally about halfway through Thursday's trading session as the Dow Jones Industrial Average rocketed past 25,000 for the first time. The blue-chip index added over 150 points to trade higher about half a percentage point. The road from passing 24,000 points to passing 25,000 was covered in just 23 trading days, the shortest-ever time it's taken the Dow to add 1,000. The S&P 500, which also passed a psychological barrier to close above 2,700 points yesterday, gained about one-third of a percent. The Nasdaq topped its own barrier of 7,000 points Tuesday and traded higher Thursday as well.

As Wall Street cheered on market gains, its "fear index" dipped to a record low streak. The Cboe VIX Volatility Index reached below 9 on Thursday for the second consecutive day. It's the first time the index has read below 9 for two-straight days ever. It's only reached a sub-9 level seven times in its nearly 30-year history - six of those seven times happened within the last six months.

Want more exclusive investing insight from Jim Cramer? Get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!