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Record-setting markets

12:00 AM ET Thu, 3 July 2014

The Dow topped 17,000 while the S&P was in record territory on Thursday thanks to a strong June jobs report. A fifth straight gain of 200,000 or more jobs created has the markets jubilant, but will this hiring boom last? Pimco Chief Economist Paul McCulley discusses the falling unemployment rate, how the Federal Reserve should react and if the bulls have more room to run.