Honeywell to separate aerospace and automation businesses

Tapestry jumps after raising annual sales and profit forecast

Amazon ticks up ahead of profits

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 increased on Thursday, as financiers sorted through numerous positive revenues reports while awaiting Friday’s crucial tasks report and any trade policy relocations.

Drugmaker Eli Lilly rose 3.4% after the company forecast annual profit mainly above estimates, drapia.org while fashion house Tapestry jumped 12.6% on an annual sales and profit projection increase.

Philip Morris International advanced 10.2% after the cigarette maker posted better-than-expected quarterly outcomes and projection 2025 revenue above quotes.

Amazon.com ticked up 0.7% ahead of its quarterly incomes report, expected after the bell. Investors will search for updates on its expert system financial investments, after Chinese startup DeepSeek’s more affordable AI model honed financier examination of the billions U.S. tech giants have actually invested developing the technology.

"Today, the main focus is business profits. 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 actually been under quite a great deal of volatility over the last couple of weeks with the DeepSeek news ... We ´ re seeing tonight for any ideas that (Amazon) has to state around that,” Hill said.

Honeywell fell 5.5% after the commercial and aerospace giant said it would divide into 3 independently listed business and projection downbeat sales and for 2025. The sharp decline 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 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 miserable start to the week when U.S. President Donald Trump announced sweeping trade tariffs over the weekend, but suspended the levies on items from Mexico and Canada on Monday for a month.

The January nonfarm payrolls report is due on Friday, a vital metric in determining the state of the labor market and the Federal Reserve’s rate path.

Traders do not anticipate the Fed to make a move on rates of interest in its next conference in March, however a cut is extensively expected in June, according to the CME’s FedWatch.

Data launched on Thursday revealed the number of Americans submitting brand-new applications for unemployment advantages increased reasonably last week.

Elsewhere in business relocations, Skyworks Solutions plunged 23.5% after the Apple provider projection declines in profits in its mobile sector and predicted current-quarter revenues listed below estimates.

Qualcomm fell 4.8% as the chip designer’s executives said its lucrative patent-licensing company would not see sales development this year after a license arrangement with Huawei Technologies expired.

Ford Motor dropped 6.4% after the automaker projection as much as $5.5 billion in losses in its electric car and software application operations this year.

Advancing concerns 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 nine new lows while the Nasdaq Composite taped 111 brand-new highs and 77 brand-new lows. (Reporting by Abigail Summerville in New York City, Shashwat Chauhan and Sukriti Gupta in Bengaluru