Mid-Morning Market Update: Markets Mostly Lower, GM Posts Upbeat Profit

Following the market opening Thursday, the Dow traded down 0.39 percent to 15,480.91 while the NASDAQ rose 0.09 percent to 3,582.68. The S&P also fell, declining 0.16 percent to 1,683.32. Top Headline
General Motors Co GM reported a better-than-expected Q2 profit. GM's quarterly earnings dropped to $1.2 billion, or $0.75 per share, from $1.5 billion, or $0.90 per share, in the year-ago period. Excluding one-time items, General Motors earned $0.84 per share, beating analysts' estimates of $0.76 per share. Its revenue increased 4% to $39.1 billion from $37.6 billion, versus estimates of $38.37 billion. Equities Trading UP
Facebook FB shot up 25.16 percent to $33.18 after the company reported stronger-than-expected second-quarter results. Shares of Baidu BIDU got a boost, shooting up 15.71 percent to $131.18 on upbeat Q2 results. Boston Scientific BSX was also up, gaining 9.89 percent to $10.56 after the company posted a profit in the second quarter. Equities Trading DOWN
Shares of Crocs CROX were down 21.70 percent to $13.30 after the company reported downbeat Q2 results and issued weak forecast for the third quarter. PulteGroup PHM was down, falling 8.35 percent to $16.91 on downbeat Q2 results. DR Horton DHI shares tumbled 7.69 percent to $19.57 after the company reported weaker-than-expected FQ3 revenue. Commodities
In commodity news, oil traded down 0.10 percent to $105.28, while gold traded up 0.22 percent to $1,323.00. Silver traded up 0.50 percent Thursday to $20.12, while copper fell 0.08 percent to $3.18. Eurozone
European shares were mostly lower today. The UK economy grew 0.6% in the second quarter versus the earlier three-month period. The German Ifo business confidence index surged to 106.2 in July, versus 105.9 in June. The Spanish unemployment rate declined to 26.26% in the second quarter from 27.16%. The Spanish Ibex Index surged 0.60 percent and the Italian FTSE MIB Index dropped 0.55 percent. Meanwhile, the German DAX declined 1.14 percent and the French CAC 40 dropped 0.42 percent while U.K. shares fell 0.51 percent. Economics
US jobless claims increased by 7,000 to 343,000 in the recent week ended July 20, versus a revised 336,000 in the earlier week. However, economists were estimating claims to surged to 342,000. US durable-goods orders gained 4.2% in June. However, economists were estimating a 2.3% increase. The Bloomberg Consumer Comfort Index rose to -27.30 in the week ended July 21, versus a prior reading of -28.40. The Kansas City Fed manufacturing index for July will be released at 11:00 a.m. ET. The Treasury is set to auction 3- and 6-month bills and 7-year notes. Data on money supply will be released at 4:30 p.m. ET.