Mid-Afternoon Market Update: Dow Jumps 175 Points; Garmin Shares Slip On Weak Preliminary Q3 Results

Toward the end of trading Thursday, the Dow traded up 1.04 percent to 17,100.39 while the NASDAQ climbed 1.44 percent to 4,851.56. The S&P also rose, gaining 1.21 percent to 2,018.35.

In trading on Thursday, healthcare shares jumped by 1.77 percent. Top gainers in the sector included

, up 20 percent, and

, up 16 percent. In trading on Thursday, basic materials shares rose by just 0.14 percent. Meanwhile, top losers in the sector included

, down 12 percent, and

, off 9 percent.

reported better-than-expected earnings for the third quarter on Thursday. The New York-based bank posted a quarterly profit of $4.29 billion, or $1.35 per share, versus $2.84 billion, or $0.88 per share, in the year-ago period. Excluding accounting adjustments, Citigroup earned $1.31 per share. Its revenue dropped to $18.69 billion from $19.69 billion, while revenue excluding accounting adjustments fell 8 percent to $18.5 billion. Analysts were expecting a profit of $1.28 per share on revenue of $18.5 billion.

shares shot up 64 percent to $27.74 following announcement of worldwide license, collaboration agreement on CSF1R antibody program with

. Shares of

got a boost, shooting up 7 percent to $3.98 after the company reported a $125 million private placement of Convertible Senior Notes due 2020, with the Baupost Group.

shares were also up, gaining 20 percent to $84.62 after the company reported preliminary unaudited revenue for the third quarter of roughly $105 million, up 52 percent year-over-year.

shares tumbled 33 percent to $11.56 after the company reported preliminary third quarter financial results. Shares of

were down 14 percent to $31.68 on weak Q3 preliminary results.

was down, falling 9 percent to $100.75 after the company reported Q3 results. The company added 3.62 million streaming subscribers during the recent quarter. It added 0.88 million new US members in the latest quarter.

In commodity news, oil traded down 0.19 percent to $46.55, while gold traded up 0.59 percent to $1,186.80. Silver traded up 0.33 percent Thursday to $16.17, while copper rose 0.58 percent to $2.43.

European shares were higher today. The eurozone's STOXX 600 climbed 1.46 percent, the Spanish Ibex Index rose 0.64 percent, while Italy's FTSE MIB Index surged 1.74 percent. Meanwhile, the German DAX climbed 1.50 percent, and the French CAC 40 jumped 1.44 percent, while U.K. shares rose 1.10 percent.

The consumer price index dropped 0.2 percent in September, versus economists' expectations for a 0.2 percent decline. US jobless claims declined 7,000 to 255,000 in the week ended October 10. Economists were estimating claims to total 270,000. The Empire State manufacturing index increased to negative 11.36 in October, compared to negative 14.67 in September. Economists were expecting a reading of negative 8. The Philadelphia Fed manufacturing index gained to a reading of negative 4.5 in October, versus a reading of negative 6.0 in September. Economists were expecting a reading of negative 1.0. Crude supplies gained 7.6 million barrels for the week ended October 9, the U.S. Energy Information Administration said. However, analysts were estimating supplies to rise by 1.8 million barrels. Gasoline supplies declined 2.6 million barrels, while distillate stockpiles shrank 1.5 million barrels last week.