US markets gave up afternoon gains Thursday as investors' optimism over stronger-than-expected earnings competed with signs that the labor market is still struggling to recover. The Nasdaq Composite rallied to a record close Thursday as investors showed renewed interest in megacap technology companies ahead of their earnings reports in the weeks ahead. The technology-heavy index climbed 73 points, or +0.5%, to 13,530, propelled higher by shares of Apple, Facebook and Amazon.com. The day marked the Nasdaq's third consecutive day of gains and its fourth record close of the year. Gains for the Nasdaq came amid an otherwise bumpy session for U.S. stocks, with both the S&P 500 and the Dow Jones Industrial Average swinging between small gains and losses throughout the day. The S&P 500 ultimately eked out a gain to finish at a record high, rising +1.22 points, or less than +0.1%, to 3,853.07. The Dow Jones Industrial Average, meanwhile, fell -12 points, or less than +0.1%, to 31,176. Hopes for a robust earnings season from the country’s largest communications and tech stocks have kept the mega-cap stocks trending upward, and the major indexes near records, during the holiday-shortened week. Apple and Facebook have risen +7.7% and +8.6%, respectively, this week ahead of their quarterly results, while Microsoft has gained +5.8%.