Stocks today weren't moving much in afternoon trading Tuesday, after solid gains Monday. Trading could be lackluster this week ahead of the July 4 holiday. Outperformers in the Dow Jones included Verizon stock and Cisco stock. Chip stocks lagged in the Nasdaq 100, including Applied Materials (AMAT), Micron Technology (MU) and Lam Research (LRCX).
VanEck Vectors Semiconductor ETF (SMH) fell 1.5%, but the weakness didn't spread into the Nasdaq composite. The index was down 0.2% in afternoon trading. The Dow Jones industrials and S&P 500 edged lower by 0.1%. Selling was more pronounced in small caps, with the Russell 2000 down 0.8%. Volume on the NYSE and Nasdaq was tracking well below Monday's levels in the stock market today.
In economic news, the IBD/TIPP Economic Optimism index jumped 3.4 points to 56.6, a strongly optimistic reading at the start of July.
Dow Jones Today
Shares of Verizon (VZ) were up 1.9% to 57.74. It's holding support at its 200-day moving average as the stock sits about 6% off its high.
Cisco Systems (CSCO) picked up 1.2% to 55.40. It's near its 50-day moving average after a short-lived breakout attempt over a 57.62 buy point.
Walt Disney (DIS) also outperformed in the Dow Jones, up 0.4% to 142.20. It reclaimed a 142.47 buy point earlier in the session, but the stock backed off highs.
Other Stock Market Movers
In other stock market news, Delta Air Lines (DAL) was up 0.7% to 58.22 after the company released monthly traffic data and raised its earnings guidance. It's trying to break out over a 59.09 entry.
Roku (ROKU) turned higher after a soft start. Shares slumped early after RBC Capital downgraded shares to sector perform from outperform. It's getting support at the 10-week moving average for the first time after a breakout during the week ended May 10.
Leaderboard stock Baozun (BZUN) was a nice gainer in the IBD 50, up 1.4% to 54.35. It's following through nicely after Monday's breakout over a 52.14 buy point. The China-based leader was featured in Monday's Sector Leaders column.
Elsewhere, furniture maker Herman Miller (MLHR), a member of the MarketSmith Growth 250, is holding gains nicely after shares soared nearly 20% last week on strong earnings.
Also in the MarketSmith Growth 250, Zscaler (ZS) outperformed as it works on an ascending base. The buy point is 82.35. Shares of Zscaler, on the Leaderboard watch list, were up nearly 3% to 78.75.
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