Stocks quoted in this article:
In early-afternoon trading, the Morgan Stanley Healthcare Products Index (RXP – 941.3) has jumped back above its 10-day moving average, a trendline it hasn't closed a session above in two-and-a-half weeks. The index is ahead by more than 14 points today, as it continues to approach its overhead 20-day and 10-week moving averages. The RXP also has been supported this week by its uptrending 20-week moving average, which has offered perfect support on a weekly closing basis since the middle of April.
Top index performers this afternoon include Genentech (DNA – 170-15/16), up 4.2 percent; Pfizer (PFE – 42-7/16), up 3.6 percent; AstraZeneca (AZN – 48-1/4), up 3.2 percent; Glaxo Wellcome (GLX – 56), up 3.2 percent; Medtronic (MDT – 49), up 3.1 percent; and Merck (MRK – 70), up 3.1 percent.