U.S. stocks slouched lower midday Tuesday with discounters among the hardest hit issues.
The Nasdaq bowed 0.5% while the S&P 500 and the Dow Jones industrial average trimmed less, 0.4% and 0.3% respectively. Volume in the stock market today was running higher across the board.
Dollar General (DG) skidded 2% in heavy volume, pulling the discounter further under its 50-day moving average line. Others in the discount space also struggled. TJX Companies (TJX) gapped down 3%. Five Below (FIVE) punctured its 50-day line as it sliced off 2.5%.
Blue chips were mostly down, but Dow component Apple (AAPL) tacked on a 0.4% gain. Apple has rebounded nicely after the market's June 27 bottom. The stock is up 20% since then and has retaken its 50-day and 200-day lines.
Some elite stocks were holding together well despite the selling Tuesday. Amazon.com (AMZN), Ulta Beauty (ULTA) and NetEase (NTES) showed no disturbances on their charts.
West Texas intermediate crude oil rose 1.25% to above $46 a barrel. Gold rose 0.5%.
