Midday Report: U.S. Stocks Jump on Oil; GoPro Falls to Record Lows

U.S. stocks rebounded from earlier lows on Thursday as crude oil regained a level above $33 a barrel thanks to a weaker dollar. Crude is in rally mode for its second straight day. A new economic report showed that U.S. factory orders declined in December for the fourth time in five months. Orders fell nearly 3%, its steepest decline in roughly a year, as activity slowed in the face of weakness from the energy sector and a stronger dollar. ConocoPhillips (COP) slid after further reducing its full-year capital spending plans and cutting its quarterly dividend. Like other oil companies, ConocoPhillips has struggled with lower commodity prices and much lower profit levels. GoPro (GPRO) traded at its lowest level ever after reporting a surprise quarterly loss. TheStreet's Keris Lahiff reports from Wall Street.