The S&P 500 rose 0.82% to 1,756.16 in afternoon trading Tuesday.
The Dow Jones Industrial Average was up 0.58% to 15,462.33, while the Nasdaq was up 1.04% to 4,038.53.
The yield on a 10-year Treasury bond rose 1.82% to 2.63%.
The price of gold fell 0.61% to $1,252.20 per ounce.
Irvine-based drug maker Allergan Inc. was up about 2% to $114.79, after Citi raised its rating on the company's stock from "neutral" to "buy." Allergan had a recent market value of $34.34 billion.
Aliso Viejo-based drug maker Avanir Pharmaceuticals Inc. was up about 5% to $3.63 for a market value of $551.90 million. The company is expected to report its quarterly results on Wednesday.
Newport Beach-based agriculture chemicals maker American Vanguard Corp. was off about 3% to $23.15 for a market value of $663.48 million.