Wall Street is drifting Thursday as gains for fashion brands and cigarette makers help offset drops for Ford Motor and Qualcomm following their latest profit reports. The S&P 500 was up 0.1% in afternoon trading following healthy gains for stock markets across much of Europe and Asia.

Asian shares are trading mostly higher after a Wall Street rally that followed profit reports from major companies

Trading on Wall Street is mixed and subdued with the arrival of more quarterly financial reports from major corporations and new data on the U.S. jobs market due over the final two days of the week. Futures for the S&P 500 and Dow Jones industrials shifted between tiny gains and losses before the bell Thursday,

Wall Street drifted through a mixed day of trading as rising fashion and cigarette stocks worked against drops for Ford Motor and Qualcomm. The S&P 500 rose 0.4% Thursday following