Mid-Morning Market Update: Markets Open Higher; McDonald's Tops Q3 Views

Following the market opening Thursday, the Dow traded up 1.11 percent to 17,358.78 while the NASDAQ jumped 1.16 percent to 4,896.19. The S&P also rose, gaining 1.07 percent to 2,040.49.

In trading on Thursday, basic materials shares jumped by 1.95 percent. Top gainers in the sector included

, up 8 percent, and

, up 7 percent. In trading on Thursday, healthcare shares dipped by 0.17 percent. Meanwhile, top losers in the sector included

, down 29 percent, and

, off 14 percent.

reported better-than-expected results for the third quarter on Thursday. The Oak Brook, Illinois-based company posted quarterly net income of $1.31 billion, or $1.40 per share, compared to $1.07 billion, or $1.09 per share, in the year-ago period. Its revenue declined to $6.62 billion from $6.99 billion. However, analysts were expecting earnings of $1.28 per share on revenue of $6.41 billion.

shares shot up 22 percent to $27.89 after the company reported upbeat Q3 sales and issued a strong sales forecast. Baird upgraded Trueblue from Neutral to Outperform. Shares of

got a boost, shooting up 13 percent to $62.72 on upbeat Q3 results.

shares were also up, gaining 12 percent to $44.69. CIT Group reported the retirement of CEO John Thain and named Carol Hayles as CFO. The company also reported that it will explore strategic alternatives for its $10 billion commercial air business.

shares tumbled 28 percent to $26.24 after the company reported weaker-than-expected Q3 results and lowered its FY15 earnings outlook. Shares of

were down 29 percent to $28.78 after the company reported weak preliminary operating results for the third quarter.

was down, falling 15 percent to $35.61 on weaker-than-expected Q3 results.

In commodity news, oil traded up 1.11 percent to $45.70, while gold traded down 0.28 percent to $1,163.80. Silver traded up 0.35 percent Thursday to $15.77, while copper rose 1.42 percent to $2.39.

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.93 percent, the Spanish Ibex Index rose 1 percent, while Italy's FTSE MIB Index surged 0.65 percent. Meanwhile, the German DAX climbed 0.91 percent, and the French CAC 40 jumped 0.75 percent, while U.K. shares fell 0.13 percent.

US jobless claims gained 3,000 to 259,000 in the week ended October 17. However, economists were expecting claims to reach 266,000. The FHFA House Price Index rose 0.30 percent in August, versus economists' expectations for a 0.40 percent growth. Existing home sales climbed 4.7 percent to an annual rate of 5.55 million in September. However, economists were projecting a sales rate of 5.34 million. The Consumer Board's Leading Index declined 0.20 percent in September, versus economists' expectations for a 0.00 percent growth.