Wall Street drifted through mixed trading Thursday as rising fashion and cigarette stocks worked against drops for Ford Motor and Qualcomm.

The S&P 500 rose 0.4% following healthy gains for stock markets across much of Europe and Asia. The Dow Jones industrial average dipped 125 points, or 0.3%, and the Nasdaq composite gained 0.5%.

Tapestry, the company behind the Coach and Kate Spade brands, helped lead the market and jumped 12%. It reported stronger profit for the latest quarter than analysts expected after attracting new, younger customers.

Philip Morris International, which sells Marlboro cigarettes and smokeless tobacco products around the world, was one of the strongest forces pushing upward on the S&P 500 and rallied 10.9% after reporting a better profit than expected.

They helped offset a 7.5% drop for Ford Motor, which fell even though the automaker delivered a stronger profit and revenue for the latest quarter than analysts expected.

Qualcomm also kept indexes in check after falling 3.7%. The company, whose products help power smartphones and other devices, reported profit for the latest quarter that topped analysts’ forecasts, and analysts called the performance solid.

In the bond market, Treasury yields held relatively steady after a report said more U.S. workers filed for unemployment benefits last week than expected.

Elsewhere on Wall Street, another company reliant on spending by consumers around the world, Ralph Lauren, rallied 9.7% after reporting stronger profit and revenue than expected.

Eli Lilly rose 3.3% after the drugmaker showed how demand for its hot-selling diabetes and obesity treatments is swelling its profits.

Honeywell fell 5.6% and was one of the heaviest weights on the S&P 500. It announced it will split into three independent, publicly-traded companies.

All told, the S&P 500 rose 22.09 points to 6,083.57. The Dow Jones Industrial Average dropped 125.65 to 44,747.63, and the Nasdaq composite rose 99.66 to 19,791.99.

The yield on the 10-year Treasury held steady at 4.43%, where it was late Wednesday.

— Associated Press