S&P 500 HITS 1,500!

The S&P 500 just passed 1,500 for the first time since 2007.

The index isn't too far from its all-time high of 1,565, which it also high on October 9, 2007.

Markets are defying gravity even as Apple is down 10 percent after its disappointing earnings announcement.

In other big milestones, initial jobless claims fell to 330k last week. This is the lowest reading since January 2008.

Economists were looking for a reading of 355k.

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