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CNBC reports:

The S&P 500 opened at a record level on Thursday after blowout earnings results from two of the biggest tech companies in the world: Apple and Facebook.

The Dow Jones Industrial Average gained 140 points while the S&P 500 added 0.7% and notched a new intraday record. The tech-heavy Nasdaq Composite added 0.85% as a host of big-tech names rose across the board. Microsoft, Amazon and Alphabet all rose at least 0.5%.

Investors pointed to strong earnings results from both iPhone maker Apple and social media platform Facebook in explaining Thursday’s gains.

Apple said that sales jumped 54% during the quarter, with each product category seeing double-digit growth. The company also said it would increase its dividend by 7%, and authorized $90 billion in share buybacks…

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