“Facebook” leads Standard & Poor’s to a record high close


The Standard & Poor’s 500 Index closed at a record high level, Thursday, led by gains in Facebook shares following a strong report on the company’s results, while investors awaited the results of Amazon.
Facebook’s stock rose to its highest levels during the day after revenues and profits exceeded market expectations as announced by the company on Wednesday, supported by growing spending on digital ads during the pandemic and rising advertising prices.
The gains included seven of 11 major sectors on the S&P 500, led by the Communications Services Index, thanks to the performance of Facebook and Alphabet stocks.
Apple shares settled unchanged after the company announced on Wednesday sales and profits that beat market estimates thanks to strong sales of the iPhone and Mac computers.
At the close, the Dow Jones Industrial Average rose 0.71 percent to close at 3,4059.42 points, while the Standard & Poor’s rose 0.64 percent to 4,210.02 points.
The Nasdaq Composite Index advanced 0.19 percent to 14,077.78 points.


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