Facebook fuels S&P 500 to record high close

Facebook Inc rallied 7.3 per cent to an all-time high after the world’s largest social network beat quarterly revenue and profit late on Wednesday. It was its biggest single-day gain in five months and easily contributed the most upside to both the S&P 500 and Nasdaq.

The communication services index led the 11 sectors higher with a 2.75 per cent gain, boosted by Facebook and Alphabet.