Wall Street's major market averages were higher around midday Thursday as traders digested data on producer prices and jobless claims.

The US Producer Price Index rose by 0.4% in January, slower than an upwardly revised 0.5% gain in December, but above the 0.3% increase expected in a survey compiled by Bloomberg. After excluding food and energy prices, core PPI increased by 0.3%, as expected and slower than an upwardly revised 0.4% gain in the previous month.

US initial jobless claims fell to 213,000 in the week ended Feb. 8 from an upwardly revised 220,000 level in the previous week, compared with expectations for a smaller decrease to 216,000 in survey of analysts compiled by Bloomberg.

In corporate news, AppLovin (APP) shares rose over 26% in recent Thursday trading after the company late Wednesday posted higher Q4 net income and revenue and issued Q1 revenue guidance that beat market expectations.

Trade Desk (TTD) shares declined 32% around midday Thursday after the company posted late Wednesday Q4 revenue and issued Q1 revenue guidance that trailed analyst estimates.

Sony Group (SONY) shares rose 6.5% after the company reported higher fiscal Q3 earnings and sales and boosted its revenue outlook for the fiscal year ending March 31.

Hewlett Packard Enterprise (HPE) said it has shipped its first Nvidia (NVDA) Grace Blackwell System, the Nvidia GB200 NVL72 system. Hewlett Packard Enterprise shares were down 0.1% and Nvidia shares were up 2.8%.

Unilever (UL) reported Thursday a lower Q4 turnover, and also said that its plans to separate its ice cream division is on track to be completed by the end of 2025. The company's shares lost 5%.

Price: 482.87, Change: +102.55, Percent Change: +26.96