CHART OF THE DAY: The Global Stock Market Is At An All-Time High

The MSCI World Index closed at an all-time-high Thursday, blowing past the pre-recession peak in October 2007 for the first time.

This coincided with the S&P 500's all-time-high, which came on the fifth anniversary of the U.S. bull market.

As American Enterprise Institute's Mark Perry notes, the MSCI has spiked 17.5% in the past year.

"Bottom Line: The global stock market rally over the last five years to a record high yesterday for the MSCI world index has added back more than $36 trillion to world equity values since 2009, and demonstrates the incredible resiliency of economies and financial markets to recover and prosper, even following the worst financial crisis and global economic slowdown in at least a generation," Perry concludes.

MSCI