S&P, Dow Hit Five-Year Highs alongside U.S. Home Sales
The S&P 500 broke the 1,500 ceiling recently, smashing through a major psychological threshold on the road to the 2007 all-time high of 1,565.15. This is particularly exciting considering the persistently flagging performance of the biggest component on the index, Apple (AAPL), and something which clearly illustrates how much banking and commodity stocks have helped bolster performance across the board. Apple is around 35% off its September high and obviously the S&P would be higher if not for this fact. Bank and commodity share performance also helped peg the 5-year high for the Dow, pulling hard and fast out of…