S&P shrugs off Apple, S&P rises to hit 1,500

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January 25, 2013 2:28 AM EST

Stocks advanced on Thursday, as the S&P shrugged off a 10 percent decline in Apple to climb above 1,500 for the first time since December 12, 2007, on positive economic news.

The Dow Jones industrial average <.DJI> gained 77.37 points, or 0.56 percent, to 13,856.70. The Standard & Poor's 500 Index <.SPX> rose 5.61 points, or 0.38 percent, to 1,500.42. The Nasdaq Composite Index <.IXIC> dropped 7.79 points, or 0.25 percent, to 3,145.88.

(Reporting by Chuck Mikolajczak; Editing by Bernadette Baum)

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Copyright 2012 Thomson Reuters. All rights reserved.

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