GitLab

Honeywell to separate aerospace and automation organizations

Tapestry jumps after raising annual sales and earnings projection

Amazon ticks up ahead of revenues

Indexes: Dow down 0.4%, S&P 500 up 0.2%, Nasdaq up 0.34%

(Updates at mid afternoon)

By Abigail Summerville and Sukriti Gupta

Feb 6 (Reuters) - The S&P 500 and the Nasdaq rose on Thursday, as investors sifted through a number of positive profits reports while awaiting Friday's key tasks report and any trade policy relocations.

Drugmaker Eli Lilly increased 3.4% after the business anticipated yearly earnings mainly above estimates, while fashion home Tapestry leapt 12.6% on an annual sales and revenue projection boost.

Philip Morris International advanced 10.2% after the cigarette maker published better-than-expected quarterly outcomes and forecast 2025 earnings above quotes.

Amazon.com ticked up 0.7% ahead of its quarterly earnings report, anticipated after the bell. Investors will search for updates on its expert system financial investments, after Chinese startup DeepSeek's cheaper AI design sharpened financier scrutiny of the billions U.S. tech giants have actually invested establishing the innovation.

"Today, the main focus is business revenues. Tariffs remain in the background," said Zachary Hill, head of portfolio management at Horizon Investments.

"Amazon will be the sixth of the Magnificent Seven to report. The AI style has actually been under quite a lot of volatility over the last few weeks with the DeepSeek news ... We ´ re viewing tonight for any thoughts that (Amazon) has to say around that," Hill said.

Honeywell fell 5.5% after the industrial and aerospace giant said it would divide into three independently noted companies and forecast downbeat sales and revenue for 2025. The sharp decrease dragged down the Dow.

At 1:45 p.m. ET (1845 GMT), the Dow Jones Industrial Average fell 179.25 points, or 0.40%, to 44,694.03, the S&P 500 gained 11.56 points, or wiki.rolandradio.net 0.20%, to 6,073.04 and the Nasdaq Composite gained 67.37 points, or 0.34%, to 19,759.70.

Eight of the 11 S&P 500 sectors traded greater, with customer staples leading gains, and energy stocks losing the most ground.

Markets saw a disappointing start to the week when U.S. President Donald Trump announced sweeping trade tariffs over the weekend, however suspended the levies on items from Mexico and Canada on Monday for a month.

The January nonfarm payrolls report is due on Friday, a crucial metric in assessing the state of the labor market and the rate course.

Traders do not expect the Fed to make a relocation on rate of interest in its next conference in March, but a cut is commonly prepared for in June, according to the CME's FedWatch.

Data released on Thursday showed the number of Americans filing brand-new applications for joblessness advantages increased reasonably last week.

Elsewhere in corporate relocations, Skyworks Solutions plunged 23.5% after the Apple supplier projection decreases in income in its mobile sector and predicted current-quarter revenues below quotes.

Qualcomm fell 4.8% as the chip designer's executives said its profitable patent-licensing company would not see sales development this year after a license contract with Huawei Technologies ended.

Ford Motor dropped 6.4% after the automaker forecast up to $5.5 billion in losses in its electrical automobile and software application operations this year.

Advancing problems outnumbered decliners by a 1.07-to-1 ratio on the New York Stock Exchange, and by a 1.04-to-1 ratio on the Nasdaq.

The S&P 500 posted 30 brand-new 52-week highs and nine new lows while the Nasdaq Composite taped 111 brand-new highs and 77 new lows. (Reporting by Abigail Summerville in New York, Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Pooja Desai, Shinjini Ganguli and Nia Williams)