Dow Up 100

As the Dow Jones Industrial Average continues to hit new highs, 100-point moves become less and less impressive from a percentage perspective.

Nevertheless, it reflects an upward move and stocks are very much in the green today.

The Dow is currently 10 points away from its all-time intraday high of 16,695.

The S&P 500 is just 6 points from its all-time high of 1,897.

It's worth pointing out that indexes like the Dow and S&P 500 are heavily skewed toward large- and mega-cap companies. According to FBN Securities' J.C. O'Hara, the average stock in the Russell 2000 and Nasdaq Composite, which include many small-cap companies, is down by more than 20% from its 52-week high.

State-side, things are pretty quiet.

India, however, is in the process of wrapping up the biggest election in history. According to new exit polls, Narendra Modi is set to become the country's next prime minister.

Modi is widely known as the pro-growth candidate. But some experts warn that we're all being a bit too optimistic.

"He's selling a dream," said Ruchir Sharma, head of emerging markets and global macro at Morgan Stanley Investment Management. "We don't have specifics as yet."