The S&P 500 was up 1.14% to 1,645.30 in midday trading Monday.
The Dow Jones industrial average rose 1.20% to 15,250.97, while the Nasdaq rose 1.30% to 3,467.94.
The yield on a 10-year Treasury bond was up 0.94% to 2.15%.
The price of gold slipped 0.39% to $1,382.20 per ounce.
The National Association of Home Builders/Wells Fargo Housing Market Index reached 52 this month, the first time since 2002 the index has surpassed 50. Readings above 50 are generally seen as positive and sent homebuilders’ stock up on Monday.
Irvine-based homebuilder Standard Pacific Corp. was up about 4% to $9.36 for a market value of $3.25 billion.
Newport Beach-based William Lyon Homes rose about 3% to $25.26 for a market value of $794.10 million.
Irvine-based dental laser maker Biolase Inc. was up about 13% to $4.20 for a market value of $133.23 million. Analysts at WallachBeth Capital initiated coverage of Biolase with a "buy" rating on the company's stock. Biolase also said Monday that it was added to the Russell 3000 and Russell Global indices.