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S & P, Nasdaq expand revenue results on Facebook, business talks deal with Reuters

© Reuters. Traders work on the NYSE floor in New York

Sruthi Shankar

(Reuters) – Nasdaq and Thursday prolonged the rally as a strong profit Facebook Inc (NASDAQ 🙂 added to optimism after the consequences of the Federal Reserve System, while investors waited for the outcome of US-China trade talks.

Facebook jumped 12.2 percent to best drive from January 2016 after quarterly earnings surpassed analysts' estimates, suggesting that advertisers were still staying and spending money on the service after a series of significant embarrassment.

General Electric (NYSE :), which grew 14.7 percent after the industrial conglomerate defeated quarterly revenue and cash flow estimates, and said it expects industrial revenue growth in 2019 to be a low to moderate one-digit percentage.

Stocks plunged on Wednesday from the Fed's pledge Thursday to patiently raise interest rates this year, alleviating investors' concerns about tightening financial conditions that affect economic growth.

"There are positive revenues from key companies, but it is mostly a yesterday's rally," said Scot Lance, chief executive of Titus Wealth Management in Larkspur, California.

In the fourth quarter of earnings that predominantly exceed market expectations and the Fed is more flexible, the S & P 500 is on its way to see the best monthly performance since October 2015.

Of the 210 S & P 500 companies that reported fourth-quarter results, according to Refinitiv, they reached 71 percent of the earnings estimate.

Investors are waiting to conclude high-level talks between the United States and China aimed at mitigating the six-month trading war that has derailed the financial markets.

US President Donald Trump has expressed optimism about business talks, but said no final agreement would be reached unless he meets with Chinese President Xi Jinping in the near future.

"There are many pious thoughts about trade negotiations that lead to a long-term beneficial plan for both sides, because despite the positive income and the strong global economy, the issue of trade is still overwhelming," Lance said.

At 12:57 ET decreased by 58.98 points, ie 0.24 percent, to 24,955.88, the S & P 500 grew by 18.56 points, or 0.69 percent to 2,699.61, and it was 95.79 points, or 1.33 percent to 7,278.87.

S & P's communications services sector reached 3.68 percent, resulting in 11 of the largest S & P sectors.

Communication charter Inc. (NASDAQ 🙂 jumped 14.6 percent after it achieved quarterly revenue estimates as the cable operator attracted more customers to Internet services.

Dow was dragged down by DowDuPont Inc., which dropped 8.5 percent after the incomes of the chemical manufacturer failed to meet expectations. The S & P material sector declined by 1.4 percent.

Microsoft Corp. (NASDAQ 🙂 dropped 1.4 percent as its Azure cloud computing sales grew slower than a year ago, although its quarterly results and forecasts have surpassed Wall Street estimates.

Intel Corp (NASDAQ 🙂 dropped 2.2 percent after chipmaker appointed interim CEO Robert Swan to play on a permanent basis.

Advanced issues have outpaced declines for the NYSE ratio of 2.47 to 1 and a market share of 1.73 per 1 on the Nasdaq market.

The S & P index recorded 23 new 52-week maximums and no new values, while Nasdaq recorded 38 new highs and 18 new minima.

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