Honeywell to separate aerospace and automation services
Tapestry jumps after raising yearly sales and revenue forecast
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 numerous upbeat revenues reports while awaiting Friday's key jobs report and any trade policy moves.
Drugmaker Eli Lilly increased 3.4% after the company forecast yearly earnings mainly above estimates, while style house Tapestry jumped 12.6% on a yearly sales and profit projection boost.
Philip Morris International advanced 10.2% after the cigarette maker published better-than-expected quarterly results and forecast 2025 earnings above estimates.
Amazon.com ticked up 0.7% ahead of its quarterly profits report, expected after the bell. Investors will look for updates on its synthetic intelligence financial investments, after Chinese startup DeepSeek's less expensive AI design sharpened investor analysis of the billions U.S. tech giants have actually invested developing the technology.
"Today, the main focus is corporate 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 theme has been under quite a great deal of volatility over the last few weeks with the DeepSeek news ... We ´ re seeing tonight for any ideas that (Amazon) needs to state around that," Hill said.
Honeywell fell 5.5% after the industrial and aerospace giant said it would split into three independently noted business and projection 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 0.20%, to 6,073.04 and the Nasdaq Composite gained 67.37 points, or wolvesbaneuo.com 0.34%, to 19,759.70.
Eight of the 11 S&P 500 sectors traded greater, with consumer staples leading gains, and energy stocks losing the most ground.
Markets saw a depressing 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, an essential metric in determining the state of the labor market and the Federal Reserve's rate path.
Traders do not expect the Fed to make a move on rates of interest in its next meeting in March, however a cut is extensively expected in June, according to the CME's FedWatch.
Data released on Thursday revealed the number of Americans submitting new applications for unemployment advantages increased moderately recently.
Elsewhere in corporate relocations, Skyworks Solutions plunged 23.5% after the Apple supplier forecast decreases in earnings in its mobile segment and projected current-quarter earnings listed below price quotes.
Qualcomm fell 4.8% as the chip designer's executives said its financially rewarding patent-licensing organization would not see sales growth this year after a license arrangement with Huawei Technologies ended.
Ford Motor dropped 6.4% after the automaker projection up to $5.5 billion in losses in its electrical car 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 new 52-week highs and 9 new lows while the Nasdaq Composite tape-recorded 111 new highs and 77 brand-new lows. (Reporting by Abigail Summerville in New York City, Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Pooja Desai, Shinjini Ganguli and Nia Williams)
