S&P 500 closes at record high after Facebook earnings

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In the end Amazon down before the bell, Twitter up after the bell.

March 29 - The S&P 500 closed at a record high on Thursday, fueled by gains in Amazon following its strong earnings report while Facebook had extended trading following its quarterly report.

After the world's largest social network beat quarterly revenue and profits on Wednesday, Facebook Inc rose 7.3% to an all-time high.It helped its biggest single-day gain in five months and easily provided the most upside to both the S&P 500 and Nasdaq.

The social media index led the 11 sectors higher with a 2.75% gain and was boosted by Facebook and Alphabet.

Despite showing business and profits late on Wednesday on Wall Street, Apple Inc dipped 0.07% despite strong iPhone and Mac sales.

Investors look at further guidance and also substantially outsized results as they look inward to upcoming quarters, said Greg Bassuk, Chief Executive of AXS Investments.We think that a lot of optimism has already been injected into the market and we are warning investors to expect significant volatility.

In extended trade, Amazon jumped 3% after the quarterly sales did analysts' expectations as the e-commerce giant continued to benefit from the COVID 19 pandemic-driven online shopping boom.

Also after the bell, Twitter dropped 9% with its quarterly report, with the company warning about higher costs and slower growth.

Out of the 265 companies reported in the S&P 500 so far, 87% have topped analyst estimates, with Refinitiv IBES data now forecasting a 45% jump in profits growth.

The U.S. economy accelerated in the first quarter, fueled by massive government relief to homes and businesses, while a labor market report showed last week that 553,000 people filed for unemployment benefits, compared with 566,000 in the previous period.

Caterpillar Inc dipped about 2% after reporting higher quarterly earnings, but warned of supply-chain bottlenecks.

After a quarterly loss, the drugmaker Merck Co Inc slid 4.4%.

McDonald's is 1.2% above estimates of Wall Street for quarterly comparable sales, and said that it returned to prepandemic growth levels.

The Dow Jones Industrial Average rose 0.71% to end at 34,060. 36 points, while the S&P 500 gained 0.68% to 4,211. 47

Volume on the U.S. exchanges was 10.5 billion shares, compared to the 9.9 billion full-session average over the last 20 trading days.

Advancing issue on Nasdaq outnumbered declining ones on the NYSE by a 1.08 to 1 ratio; on Nasdaq, a 1.19 - to 1 ratio favors decliners.

The Nasdaq Composite posted 120 new 52 week highs and no new lows; the S&P 500 recorded 150 new highs and 30 new lows.

The Nasdaq 50 has now made 12% in 2021, while the S&P 500 grew 9%.Taken together, the victims describe themselves as being affected by an unplanned thing called '' after which

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