Key U.S. market averages were mixed Thursday, as investors sorted through a new wave of earnings reports and labor-market updates, including a jump in job cuts, ahead of Friday's monthly U.S. payrolls report.

Wall Street is drifting Wednesday as gains for most stocks outweigh drops for Alphabet and some other big-name companies following their latest profit reports. The S&P 500 was 0.2% higher in late trading.