S&P 500 new record close | Amazon’s earnings beat | Inflation appears in earnings

The S&P 500 clinched a new closing record on Thursday, rising just shy of 0.7% to end the day at 4,211.47. Meanwhile, the Dow Jones Industrial Average gained 239.98 points, climbing to 34,060.36.

VIEW IN BROWSER | SUBSCRIBE THU, APR 29, 2021 EVENING BRIEF AS OF THU, APR 29, 2021 • 05:19 ET DJIA 34060.36 +0.71% +239.98 S&P 500 4211.47 +0.68% +28.29 NASDAQ 14082.55 +0.22% +31.51   Most Active DOW NAME LAST CHG %CHG AAPL 133.48 -0.10 -0.07% MSFT 252.51 -2.05 -0.81% MRK 73.68 -3.41 -4.42% S&P 500 NAME LAST CHG %CHG F 11.26 -1.17 -9.41% AAPL 133.48 -0.10 -0.07% FB 329.51 +22.41 +7.30% NASDAQ NAME LAST CHG %CHG AAPL 133.48 -0.10 -0.07% FB 329.51 +22.41 +7.30% AMD 83.91 -0.11 -0.13%   EDITOR'S NOTE The S&P 500 clinched a new closing record on Thursday, rising just shy of 0.7% to end the day at 4,211.47. Meanwhile, the Dow Jones Industrial Average gained 239.98 points, climbing to 34,060.36.   The tech-heavy Nasdaq Composite also ended the day in positive territory, inching to 14,082.55, a gain of 0.2%.   Amazon released first-quarter results after the bell, beating analysts' expectations.   The e-commerce giant posted earnings per share of $15.79 on revenue of $108.52 billion. Analysts polled by Refinitiv expected a profit of $9.54 per share on revenue of $104.47 billion. More than half of S&P 500 companies have now reported results for the previous quarter, and the blended year-over-year earnings growth rate stands around 44%, FactSet data shows.   Indeed, the I-word – inflation – is beginning to creep into companies' results and into strategists' conversations.   Inflation isn't necessarily bad news – if companies can find a way to pass the expense onto the consumer. Nonetheless, it's something economists and investors are watching as the recovery continues.   "If share prices are being driven by the possibility that second-half earnings growth is even stronger than anticipated, the worry is we may be underestimating the growth in inflation," said Sam Stovall, CFRA chief investment strategist.   Strong earnings results aren't the only sign that the economy is getting back on its feet. First-quarter gross domestic product grew at a 6.4% rate, while last week's initial jobless claims slid to a fresh pandemic-era low of 553,000. Darla Mercado | CNBC Markets and Investing Editor @Darla_Mercado TOP NEWS  S&P 500 notches record close after strong earnings from Facebook Consumer-fueled economy pushes GDP to 6.4% first-quarter gain Digital currency ether hits a record high, stealing bitcoin's limelight New York City will reopen 100% on July 1, Mayor Bill de Blasio says Apple is in the middle of a supercycle for everything it sells, and the Mac and iPad are on a tear Cramer says investors are 'misjudging entirely' Apple's strong quarterly results. Here's why After a bullish start, here's the stock market outlook for Biden's next 100 days Inflation – feared by investors – is showing in earnings. Here's why it can be good news FDA to propose ban on menthol-flavored cigarettes, with industry likely to challenge Goldman admits it was wrong on Apple, upgrades stock   TOP VIDEO How the Fed could respond to inflation concerns, according to MKM partners's Michael Darda   CNBC PRO Hedge funds reversed course on these stocks and are now betting on them   SPECIAL REPORTS 2 million homeowners may be eligible for this new mortgage refinancing program 'Dream scenario for the bulls': Four market analysts talk Apple's blowout quarter   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS