The S&P 500 rose 1.6% to 1,957.95.

The Dow Jones Industrial Average rose 1.7% to 16,736.08 and the Nasdaq rose 1.9% to 4,466.88.

The yield on a 10-year Treasury bond went up 2.6% to 2.29%.

The price of gold was down 1.3% to $1,229.40.

SERVICES

Newport Beach-based Acacia Research Corp. was up 2.6% to $15.65 and a market cap of $782.7 million on a positive quarterly report. The patent licensing company reported revenue in its third quarter of $37.1 million, up 140% from the same period last year and beating estimates of $22.7 million. It said net income was $5 million, compared with a net loss of $13.2 million last year.

FINANCE

Santa Ana-based First American Financial Corp. was up 1.7% to $28.90 and a market cap of $3.1 billion. The financial services company said it earned $80.7 million in its third quarter, good for 74 cents per share and beating analyst expectations of 59 cents a share by 25%.