The S&P 500 and the Dow industrials extended all-time highs on Thursday as falling bond yields and strong March U.S. retail sales data sparked buying of richly valued technology stocks. The S&P information technology and communication services indexes rose 1.7% and 1.3% respectively, led by components Apple Inc, Microsoft Corp and Facebook Inc. The trio, which had underperformed last month, climbed between 1.3% and 1.9%.

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