The S&P 500 rose 0.72% to 1,667.01 in afternoon trading Monday.

The Dow Jones industrial average was up 0.78% to 15,038.26, while the Nasdaq was up 0.93% to 3,694.18.

The yield on a 10-year Treasury bond was off 0.95% to 2.91%.

The price of gold fell 0.05% to $1,385.80 per ounce.


Local homebuilders received a boost on Monday after Hovnanian Enterprises Inc. reported revenue growth and an increase in home prices and deliveries for its third quarter ended July 31.

Irvine-based Standard Pacific Corp. rose about 5% to $7.70 for a market value of $2.7 billion.

William Lyon Homes of Newport Beach was up about 2% to $21.17 for a market value of $665.5 million.

TRI Pointe Homes Inc. was up about 2% to $14.35. The Irvine-based homebuilder had a recent market value of $453.4 million.


Shares of Irvine-based Local Corp. were up about 6% to $2.01 for a market value of $45.9 million. The online media company closed up about 20% on Thursday, the same day the company announced a deal to provide local search results for Microsoft Corp.’s Bing search engine.