The S&P 500 was up 0.08% to 1,615.41 in afternoon trading Wednesday.
The Dow Jones industrial average rose 0.38% to 14,988.55, while the Nasdaq rose 0.30% to 3,443.67.
The yield on a 10-year Treasury bond was up 1.30% to 2.50%.
The price of gold was up 0.43% to $1,248.70 per ounce.
Costa Mesa-based Emulex Corp. shares surged 14% to $7.61 after Bloomberg reported that the networking equipment maker hired Goldman Sachs to explore a possible sale. Emulex had a recent market value of $691.43 million.
Aliso Viejo-based Avanir Pharmaceuticals Inc. fell about 6% to $4.28, following an announcement Tuesday that it struck a licensing deal for North America with OptiNose AS to develop a treatment for migraines. Avanir had a recent market value of $621.07 million.