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Dow posts record close as Wall Street shakes off Amazon's fall

U.S. equities closed well off session lows on Friday investors shook off a sharp pullback from Amazon.com.

The Nasdaq composite ended 0.1 percent lower at 6,374.68 after falling as much as 0.7 percent. The tech heavy-index climbed its lows as Facebook, Netflix and Google-parent Alphabet erased earlier losses.

The Dow Jones industrial average closed 33.76 points higher at 21,830.31, notching intraday and closing highs.

The S&P 500 declined 0.13 percent to close at 2,472.10 after falling as much as 0.43 percent. Consumer staples led seven sectors lower.

Amazon.com shares fell as much as 4.3 percent on the back of much weaker-than-expected quarterly results. Amazon posted second-quarter earnings per share of 40 cents. Analysts polled by Reuters expected earnings of $1.42 a share. Sales, however, came in above expectations.

The stock closed 2.5 percent lower.

"What you're seeing here is a market that's being driven largely by earnings," said Matthew Peterson, chief...


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