Stocks Make U-Turn Cutting Losses, Dow and S&P 500 Briefly in the Green

Stocks did a U-turn and turned positive in Thursday's midday trading. Major markets were mixed with the Nasdaq in the red and the S&P 500 wavering on the flat line. The Philadelphia Fed said manufacturing in that region expanded but at a slower pace in October. Its index showed growth was still strong beating estimates at 20.7. Homebuilder sentiment unexpectedly fell in October. The National Association of Home Builders Index showed confidence dropped 5 points to a level of 54. Toll Brothers (TOL), KB Home (KBH) and Hovnanian (HOV) are all in positive territories. Goldman Sachs (GS) is trading lower in midday trading despite blowing away the street with its earnings. The financial giant reported a 50% jump in quarterly profit. Total revenue rose 25% to $8.39 billion. Earnings is pushing shares of Delta (DAL) higher. The airline beat expectations by two cents, earning $1.20 a share. Other airlines are getting lift. American, United Continental and JetBlue are all in the green.