Stocks in New York on the Rise

Major indices swing to the upside on another day of turbulent trading
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Updated from 10:06 a.m. EDT

Wall Street had another choppy session Thursday as investors digested mixed economic data and the latest influx of disappointing corporate numbers.

The major averages took a dip mid-morning, but were lately swinging back to the upside.

Dow Jones Industrial Average

was adding 19 points at 12,783, and the

S&P 500

rose 1 point to 1381. The

Nasdaq Composite

climbed 2 points to 2407.

Ford

(F) - Get Report

was among the day's corporate winners after the carmaker posted a surprise first-quarter profit of $100 million thanks to a robust showing in Europe and South America. That offset a loss in its North American segment, which itself was narrowed sharply from last year. Shares bounced 7.9%.

Also rising was

Credit Suisse

(CS) - Get Report

, despite posting its first shortfall in more than five years as it wrote off $5.14 billion in bad assets. That pales in comparison to writedowns at Swiss rival

UBS

(UBS) - Get Report

, and Credit Suisse called its capital position "strong," suggesting it won't need to raise any cash, as UBS was forced to do this month. Credit Suisse shares rose 2.5%.

As for economic data, the Labor Department reported that the number of people filing for unemployment benefits dropped by 33,000 people last week to a better-than-expected 342,000. The consensus called for an unchanged figure.

Also, durable-goods orders -- an important indicator of factory activity -- stepped back 0.3% last month, according to the Commerce Department. That's worse than the flat number economists were expecting, but still an improvement on February's figure, which itself was revised to a 0.9% drop from the prior figure of minus 1.7%.

Separately, the Census Bureau said new-home sales in March sank 8.5% from the prior month to a 526,000 annual pace. A number more on the order of 580,000 had been anticipated.

Back in equities,

Amazon.com

(AMZN) - Get Report

slumped 3.8% after the online retailer eased its 2008 operating-earnings forecast and reporting an essentially flat operating margin in the first quarter. Analysts were hoping for some improvement. The Internet retailer also reported better-than-expected earnings of $143 million on soaring sales of $4.13 billion.

Another tech titan,

Apple

(AAPL) - Get Report

, saw mixed trading after guiding under earnings estimates for the current quarter. In the first quarter, the maker of Macs and iPhones saw its profit jump 36% to comfortably beat analyst estimates. Shares were recently up 0.8%.

Motorola

(MOT)

, meanwhile, surrendered 4.8% after its quarterly loss and weak second-quarter projection.

Outside of tech,

Starbucks

(SBUX) - Get Report

was also losing ground on its soft guidance. The coffee seller said tough economic conditions should keep its customer-traffic numbers down and force a first-quarter profit drop to 15 cents a share from 19 cents last year. That's well under the consensus estimate. Shares were plunging 13.6%.

Energy stocks also took a hit as crude oil went into retreat, recently shedding 83 cents to $117.47 a barrel.

ConocoPhillips

(COP) - Get Report

reported crushing Wall Street targets with leaping earnings of $4.1 billion, or $2.62 a share, thanks to a surging oil futures. But the stock was still losing around 2% along with

Exxon

(XOM) - Get Report

and

Chevron

(CVX) - Get Report

.

Meanwhile, gold miners

Goldcorp

(GG)

,

Barrick Gold

(ABX)

and

Kinross Gold

(KGC) - Get Report

each sank 4.3% or more as gold futures slid $14.20 to $894.80 an ounce.

At the same time, the U.S. dollar jumped 1.3% against the euro at $1.5692 while firming by 0.5% against the yen.

Treasury prices were little changed recently. The 10-year note was up 16/32 in price to yield 3.80%, and the 30-year bond slid 27/32 in price, yielding 4.55%.

Markets overseas were mostly in retreat. The Hang Seng Index in Hong Kong jumped 1.6% overnight at 25.681, but Tokyo's Nikkei 225 lost 0.3%. In Europe, London's FTSE 100 dropped 1.5%, Germany's Xetra Dax shed 0.4%, and the Paris Cac fell 0.9%.