S&P; breaks through 1,500; Nasdaq pulled down by one bad Apple
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On Wall Street on Thursday morning, it’s a truly mixed market.
Many prominent stocks were doing so well that the Standard & Poor’s 500 index broke through the 1,500 mark for the first time since 2007 -- before the recession hit.
Boosting shares was a report of a big drop in initial claims for unemployment benefits to 330,000 -- a five-year low.
The Dow Jones industrial average was also sparked by the good news -- it was up more than 65 points in the first hour of trading in New York.
Meanwhile, the loneliest index in town was the Nasdaq, which was pulled down by its biggest company -- Apple.
The tech company’s shares were down about 10% on news of its earnings, announced Wednesday after the market’s close, that disappointed analysts.
But considering the otherwise good economic news, the Nasdaq was almost able to rise above the Apple plunge -- the index was down only about 0.3%.
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