The S&P 500 rose 0.94% to 1,768.03 in afternoon trading Thursday.
The Dow Jones Industrial Average was up 0.90% to 15,578.63, while the Nasdaq was up 0.94% to 4,049.45.
The yield on a 10-year Treasury bond rose 1.12% to 2.70%.
The price of gold was up 0.02% to $1,257.10 per ounce.
Homebuilders were generally up on Thursday.
Irvine-based Standard Pacific Corp. rose about 2% to $8.74, a day after reporting better-than-expected results for the fourth quarter. The homebuilder had a recent market value of $3.03 billion.
TRI Pointe Homes Inc. of Irvine was up about 4% to $18.18 for a market value of $574.43 million. The company announced this week its purchase of 892 lots in California and Colorado.
Newport Beach-based William Lyon Homes was up about 3% to $24.72 for a market value of $777.49 million.
Costa Mesa-based circuit board maker TTM Technologies Inc. rose about 3% to $8.13, a day after reporting better-than-expected results for its December quarter. TTM had a recent market value of $671.93 million.
Foothill Ranch-based teen and contemporary retailer Wet Seal Inc. was off about 8% to $1.91, after lowering its loss guidance for the quarter ended Feb. 1. Wet Seal had a recent market value of $161.67 million.
Irvine-based laser maker Biolase Inc. shares surged after the company released preliminary fourth-quarter revenue results. Investors sent Biolase shares up about 19% to $2.74 for a market value of $95.49 million.