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Alphabet earnings top estimates as online advertising remains robust

Reuters

Wall Street closes at record but Facebook weighs

U.S. stock indexes closed modestly higher on Tuesday, with the Dow Industrials and S&P 500 hitting fresh records, and gains were subdued as Facebook shares fell in the wake of its quarterly earnings. Facebook Inc, down 3.92%, was the biggest drag on the S&P 500 and Nasdaq, after the company warned that Apple Inc’s new privacy changes would weigh on its digital business. “Facebook has other issues, certainly the earnings report wasn’t as stellar,” said Ken Polcari, managing partner at Kace Capital Advisors in Boca Raton, Florida.

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