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Facebook, Alphabet bolster S&P 500 as investors await Covid-19 stimulus

Snap Inc surged 26.6% after the Snapchat messaging app owner beat user growth and revenue forecasts, as more people signed up to chat with friends and family during the Covid-19 pandemic

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FILE PHOTO: A trader works on the floor of the New York Stock Exchange (NYSE) in New York City. Reuters

Reuters
The S&P 500 climbed on Wednesday helped by gains in internet companies Facebook and Alphabet, while investors waited for signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery.
 
Snap Inc surged 26.6% after the Snapchat messaging app owner beat user growth and revenue forecasts, as more people signed up to chat with friends and family during the Covid-19 pandemic.
 
The results boosted the shares of social media companies Facebook Inc and Twitter Inc, which were up 4.7% and 7.2%, while image sharing company Pinterest Inc gained 11.6%.
 
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