Stocks are struggling for direction midday, following an onslaught of economic data. The producer price index (PPI) dropped 0.5% for April, below the expected 0.3% rise. Jobs data remained stagnant, while retail sales rose of 0.1%, a steep pullback from March's 1.7% increase. The Nasdaq Composite (IXIC) is off 90 points at last check, while the Dow Jones Industrial Average (DJI) is marginally higher, both having pared earlier triple-digit drops. The S&P 500 Index (SPX) is trading just above breakeven, both for the day and the year.

Options traders are flocking toward Cisco Systems Inc (Nasdaq: CSCO), after the tech company posted a fiscal third-quarter earnings and revenue beat. At last check, the equity is trading up 6% at $65.44, trading back near its February highs. So far, 173,000 calls and 41,000 puts have been exchanged, nine times the average daily volume. Most popular are the May 64 and 65 calls, where new positions are being bought to open. For 2025, CSCO sports a 10% lead.

Retailer Boot Barn Holdings Inc (NYSE: BOOT) is one of the top stocks on the New York Stock Exchange (NYSE) today, up 19.8% at $158.15, the footwear concern brushed off a fiscal fourth-quarter earnings miss. An increase in quarterly sales is instead driving share price today. BOOT is eyeing its best daily pop since 2020 and is now back above its year-to-date breakeven mark.

On the flip side of the NYSE is insurance provider UnitedHealth Group Inc (NYSE: UNH) is down 18.6% at $250.63, after the Wall Street Journal broke news of a probe against the company regarding Medicare fraud. This will mark the stock's eighth-straight session in the red, and is pushing the shares below the round 50% year-to-date mark.

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