NEW YORK (TheStreet) -- Veterans Day kept volumes light and market chatter quiet as the Dow Jones Industrial Average and S&P 500 held onto record highs without making any big moves.
By midafternoon, the Dow was down 0.11% and the S&P 500 fell 0.06%. The Nasdaq added 0.04%.
Vodafone (VOD) was the best-performing stock on the tech-heavy Nasdaq, gaining 5.5% after raising its full-year core earnings forecast. The European telecom company also announced plans to launch U.K. broadband and TV offerings by spring.
Juniper Networks (JNPR) tumbled 4.3% after its CEO for less than a year, Shaygan Kerapdir, resigned following a board review.
Zynga (ZNGA) popped more than 8.9% after analysts at Jefferies upgraded the stock to "buy" from "hold," crediting new mobile games due for release in 2015.
Alibaba (BABA) shares were correcting around 3% after a 4% increase a day earlier. The Chinese e-commerce site had been rallying after it exceeded expectations for sales on Singles Day, China's largest annual online shopping event. Overall, more than $8 billion worth of transactions were processed in the Alibaba ecosystem.
Rackspace (RAX) was spiking 13.2% after third-quarter profit topped estimates and the company announced a $500 million buyback.
Equities have been drifting higher, and smashing records, over the last few weeks on the back of mostly positive earnings, better-than-expected U.S. jobs data, mid-term elections and signs the country would be resilient in the face of a global slowdown.
Past stock market performance following mid-term elections could portend indices climbing even higher, said Gary Thayer, Wells Fargo's chief macro strategist.
"History suggests that investor optimism is likely to improve after the election," Thayer wrote in a report Tuesday. "The U.S. stock market tends to bottom in late September and early October in mid-term election years and tends to rally into the end of the year after the election."
Wells Fargo predicted some near-term minor retracement for stocks, with a positive trend during the "seasonally stronger period" from October through April.
U.S. government offices and the bond market were closed for Veterans Day.
Though earnings season is winding down, there are still a few big names left to report, including Macy's (M) before and J.C. Penney (JCP) after the bell Wednesday. Of the 450 companies of the S&P 500 that have reported earnings, 74% have beat estimates, according to S&P Capital IQ.
--Written by Keris Alison Lahiff in New York.