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Amazon ( AMZN ) drops after report on EU investigation next year

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Alphabet slips after Justice Department pushes for Chrome

sale

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Deere shares up after Q4 profit beats estimates

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Indexes up: Dow 1.19%, S&P 500 0.65%, Nasdaq 0.22%

(Updates with mid-afternoon trading)

By Abigail Summerville and Johann M Cherian

Nov 21 (Reuters) - Wall Street's main indexes turned

positive after choppy trading on Thursday, with the blue-chip

Dow touching a one-week high.

Dow Jones Industrial Average gains were aided by cloud

company Salesforce's ( CRM ) 5.2% advance after three brokerages

lifted their price targets on the stock.

Shares of Wall Street's biggest company, Nvidia ( NVDA ),

were up 0.8% after teetering following its earnings release on

Wednesday. The chip company surpassed expectations for quarterly

results, and projected fourth-quarter revenue above estimates.

"[Nvidia's ( NVDA )] earnings report was really, really good. Some of

the whisper numbers were higher and they disappointed there, but

the fundamentals of AI and Nvidia ( NVDA ) continue to fire on all

cylinders and the outlook for next year is positive," said

Anthony Saglimbene, chief market strategist at Ameriprise

Financial.

Some investors were unimpressed that the forecast was its

slowest in seven quarters.

The broader Philadelphia SE Semiconductor index was

up 1.5%.

At 2 p.m. ET, the Dow rose 516.64 points, or 1.19%,

to 43,925.11, the S&P 500 gained 38.62 points, or 0.65%,

to 5,955.73 and the Nasdaq Composite gained 42.92

points, or 0.22%, to 19,008.22.

Alphabet slid 5.4% to touch a more than two-week

low after the Justice Department argued to a judge that Google

must sell its Chrome browser and take other measures to end its

monopoly on online search.

The stock's losses weighed on the communication services

sector, which fell 1.93% and was the biggest sectoral

decliner on the S&P 500.

Amazon.com ( AMZN ) lost 2% after a report said it will

likely face an EU investigation next year into whether it favors

its own brand products on its online marketplace.

On the data front, a weekly report on jobless claims showed

they fell unexpectedly last week, suggesting a rebound in job

growth in November.

Investors will be closely monitoring commentary from Federal

Reserve officials before the mid-December FOMC meeting.

Money-market bets are in favor of a 25-basis-point interest

rate cut by the Fed in December, according to the CME Group's

FedWatch.

"We've moved on from the election a bit, we got the Nvidia ( NVDA )

report, so the next thing markets will look for is the Fed

meeting, and some policy speak from Fed officials this week have

pointed to maybe a pause in the making for December," Saglimbene

said.

Richmond Fed President Tom Barkin said the United States is

more vulnerable to inflationary shocks than in the past,

according to a media report.

Chicago Federal Reserve President Austan Goolsbee said on

Thursday he supports further interest rate cuts and is open to

doing them more slowly.

Traders also monitored geopolitical tensions between Ukraine

and Russia that sent crude prices higher and aided a 1.1% gain

in the energy sector.

Shares of machinery manufacturer Deere gained 9%

after reporting an upbeat fourth-quarter profit, while AI

company Snowflake jumped 34% after raising its annual

product revenue forecast.

Advancing issues outnumbered decliners by a 3.46-to-1 ratio

on the NYSE and by a 2.25-to-1 ratio on the Nasdaq.

The S&P 500 posted 62 new 52-week highs and four new lows

while the Nasdaq recorded 122 new highs and 127 new lows.