"We had some good news from the 'social' sector this morning with Twitter," said JJ Kinahan, chief market strategist at TD Ameritrade. "What's exciting about it is that it shows the resilience of the market."
"These are stocks that are coming off of a few quarters in a row of disappointing expectations," he added, noting Buffalo Wild Wings's earnings beat on Wednesday. "What's nice about them is that they've found a way to rejigger their business model to make money."
News related to the two biggest central banks also dominated Wall Street.
The European Central Bank announced it would extend its bond-buying program until September 2018. The announcement sent the euro down against the dollar; it was last trading at $1.165, down 1.4 percent.
In the U.S., Politico reported, citing a source, that current Fed Chair Janet Yellen was out of the running for the position heading into next year. Yellen's term is up in 2018.
"Earnings are dominating investor interest followed by policy," said Eric Wiegand, senior portfolio manager at the Private Client Reserve at U.S. Bank. "For stocks to advance further, we're going to need further evidence" of earnings growth. "We're also waiting" to find out who the next Fed chair will be.
Stock futures briefly dipped on the report, but managed to regain most of their losses.
Equities have been trading near record highs recently on increasing hope of U.S. tax reform. The House narrowly passed a Senate version of the 2018 budget, marking a significant step toward the GOP passing tax reform.