Mid-Day Market Update: US Stocks Turn Higher; Plexus Shares Gain On Strong Results

Midway through trading Thursday, the Dow traded up 1.02 percent to 15,927.40 while the NASDAQ climbed 0.85 percent to 4,509.61. The S&P also rose, gaining 1 percent to 1,877.91.

On Thursday, cyclical consumer goods & services shares surged by 2.05 percent. Meanwhile, top gainers in the sector included

, up 11 percent, and

, up 9 percent. In trading on Thursday, technology shares dipped by 2.64 percent. Meanwhile, top losers in the sector included

, down 4 percent, and

, down 4 percent.

reported better-than-expected earnings for the fourth quarter. Verizon reported a quarterly profit of $5.39 billion, or $1.32 per share, versus a year-ago loss of $2.23 billion, or $0.54 per share. Excluding items, the company earned $0.89 per share for the quarter. Its revenue rose 3.2 percent to $34.25 billion. However, analysts were expecting earnings of $0.88 per share on revenue of $34.06 billion.

shares shot up 12 percent to $33.33 as the company reported better-than-expected FQ1 results. Shares of

got a boost, shooting up 11 percent to $6.03 after the company reported upbeat Q4 earnings.

shares were also up, gaining 9 percent to $25.54 after the company posted stronger-than-expected Q4 profit.

shares dropped 40 percent to $36.06 following announcement of failed depression drug trial. Shares of

were down 39 percent to $17.65 after the company issued a weak FY16 outlook.

was down, falling around 9 percent to $23.33. Unifi reported adjusted earnings of $0.37 per share on revenue of $156.3 million in its fiscal second quarter.

In commodity news, oil traded up 0.56 percent to $28.51, while gold traded down 1.09 percent to $1,094.10. Silver traded down 1.77 percent Thursday to $13.91, while copper rose 1.22 percent to $1.98.

European shares were higher today. The eurozone's STOXX 600 rose 1.82 percent, the Spanish Ibex Index gained 1.78 percent, while Italy's FTSE MIB Index surged 3.85 percent. Meanwhile, the German DAX rose 1.93 percent, and the French CAC 40 gained 1.89 percent, while U.K. shares climbed 1.59 percent.

US initial jobless claims rose 10,000 to 293,000 in the latest week. However, economists were expecting claims to reach 278,000 in the week. US Philadelphia Fed manufacturing index rose to a reading of -3.50 in January, versus a prior reading of -5.90. However, economists were expecting a reading of -5.00. Supplies of natural gas slipped by 178 billion cubic feet for the week ended January 15, the U.S. Energy Information Administration reported. However, economists were expecting a drop of 184 billion cubic feet. US crude oil supplies rose by 4 million barrels for the week ended January 15, the U.S. Energy Information Administration said. However, economists were projecting a gain of 2.81 million barrels. Gasoline supplies gained 4.6 million barrels, while distillate stockpiles declined 1 million barrels last week.