The S&P 500 rose 0.82% to 2,000.37 in midday trading.
The Dow Jones Industrial Average rose 0.71% to 17,152.58, and the Nasdaq rose 0.63% to 4,547.75.
The yield on a 10-year Treasury bond fell 0.66% to 2.58%.
The price of gold was flat at $1,238.80.
HEALTHCARE
Biolase Inc. was up another 4.4% at midday to $2.68 and a market capitalization of $117.6 million. The stock rose more than 10.5% yesterday on a Los Angeles Times report of its turnaround efforts. Of four analysts covering the company, one rates it “strong buy,” two “buy,” and one “hold,” with one noting, “the worst is behind Biolase” as it cited expectations the turnaround plan will take hold in coming quarters.
Aliso Viejo-based Avanir Pharmaceuticals Inc. was down 4.6% to $11.92 and a market cap of $2 billion on profit-taking, after nearly doubling in price yesterday on positive results from second-phase clinical trials of a drug to treat agitation in Alzheimer’s patients. Yesterday, 88.7 million shares of the company traded hands; its 90-day average is about 3 million. At midday today, about 15 million shares had traded.
