Stocks held their modest gains at midday Thursday, as volume continued to track lower across the board.
The Nasdaq rose 0.6%, while the S&P 500 gained 0.5%. The Dow Jones industrial average tacked on 0.3%.
On the downside, Mead Johnson Nutrition (MJN) tumbled 8% in huge turnover, hit by news of Wal-Mart (WMT) pulling a batch of the infant formula maker's Enfamil product after the death of an infant. Reports said there was no known link between the infant's death from a bacterial infection and Enfamil, which tested negative for the bacterium, but Wal-Mart was pulling the formula "out of an abundance of caution."
Mead Johnson has plunged below its 50-day moving average, after closing near an all-time high Wednesday. It has an IBD Composite Rating of 78 out of a highest-possible 99.
On the upside, Advance Auto Parts (AAP) gained 1% in fast trade after being up as much as 3% earlier. The stock has sketched a 71.10 handle buy point in a first-stage base. The car parts retailer has a Composite Rating of 96, putting it above all but 4% of the market. Advance also is part of a top-rated IBD industry group.
Intuitive Surgical (ISRG) jumped 1% in above-average volume, as it worked on clearing a 449.16 buy point from a base-on-base pattern. The maker of robotic surgical gear briefly topped 449.16 and touched 450, a new all-time high, but then gave up some of its gain. Intuitive sports a 99 Composite Rating.
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