S&P 500 breaks through 1,500 for first time since 2007

11:24 AM, Jan 24, 2013   |    comments
In this Wednesday, Jan. 23, 2013 photo, the screens of specialist Armin Silbersmith are reflected in his glasses as he works at his post on the floor of the New York Stock Exchange.
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NEW YORK (AP) - The Standard & Poor's 500 index is trading above 1,500 for the first time since December 2007.

The S&P has risen for the past six days. Thursday's gain followed a sudden drop in claims for unemployment benefits, another sign that the labor market is healing.

A plunge in Apple's stock pulled the Nasdaq composite index lower. The electronics giant predicted slower sales.

The Dow Jones industrial average was up 69 points at 13,849. The Standard & Poor's 500 index inched above 1,500 in early trading, and was up four points at 1,499 as of 10:15 a.m.

The Nasdaq fell nine points to 3,144. A sharp drop in Apple, one of the country's most valuable companies, is enough to pull down the technology-heavy index.

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