* Twitter (NYSE: TWTR ) plunges on grim outlook
* Chevron down as profit drops on weaker refining margins
* U.S. consumer spending rebounds in March
* Indexes down: Dow 0.42%, S&P 0.49%, Nasdaq 0.50% (Updates prices to open)
By Shivani Kumaresan
April 30 (Reuters) - Wall Street's three main indexes fell on Friday as investors hit pause after a barrage of strong quarterly earnings and upbeat economic data put the benchmark S&P 500 index on track for a third straight month of gains following a record run.
The Nasdaq .IXIC is also positioned for six consecutive months of gains, boosted by a rally in shares of big technology companies following their impressive results this week. The Dow Jones Industrial Average .DJI is set to end in the positive territory for three months in a row.
"A lot of the earnings is already in, and so the market has entered a fatigue environment and investors are now going to assess the economic picture," said Peter Cardillo, chief market economist at Spartan Capital in New York.
Amazon.com Inc AMZN.O rose 1.6% after posting record profits and signaling that consumers would keep spending in a growing U.S. economy and converts to online shopping are not likely to leave. Inc TWTR.N plunged 13.0% as it offered tepid revenue forecast for the second quarter, saying user growth could slow as the boost seen during the coronavirus pandemic fizzles. high-flying stocks, including Facebook Inc FB.O , Alphabet Inc GOOGL.O , Apple Inc AAPL.O and Netflix Inc NFLX.O , fell between 0.2% and 0.9%.
Data on Friday showed U.S. consumer spending rebounded in March amid a surge in income as households received additional COVID-19 pandemic relief money from the government. 9:44 a.m. ET the Dow Jones Industrial Average .DJI was down 143.96 points, or 0.42%, at 33,916.40, the S&P 500 .SPX was down 20.75 points, or 0.49%, at 4,190.72 and the Nasdaq Composite .IXIC was down 70.11 points, or 0.50%, at 14,012.43.
Chevron Corp (NYSE: CVX ) CVX.N shed 2.2% after its first-quarter profit fell 29%, hit by weaker refining margins and production losses. Inc ABBV.N rose 0.2% after beating estimates for quarterly revenue and profit and raised its 2021 earnings forecast, helped by demand for its rheumatoid arthritis drug in the United States.
Declining issues outnumbered advancers for a 2.20-to-1 ratio on the NYSE and for a 2.05-to-1 ratio on the Nasdaq.
The S&P index recorded 29 new 52-week highs and no new low, while the Nasdaq recorded 23 new highs and 18 new lows.
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