The S&P 500 was up 0.9% to 2,009.59 in midday trading.
The Dow Jones Industrial Average was up 0.6% to 17,419.51, and the Nasdaq was up 0.8% to 4,608.59.
The yield on a 10-year Treasury bond rose 2.1% to 1.81%.
The price of gold rose 1% to $1,277.
Huntington Beach-based BJ’s Restaurants Inc. was down 8.6% to $43 and a $1.1 billion market cap on an analyst downgrade and revenue guidance lower than a consensus estimate. Wunderlich lowered shares of the casual dining chain to “hold” from the “buy” rating it offered in December, with the new price target $50, down from $56. BJ’s said December quarter same-store sales would grow 1.2% and revenue would be 7% higher at $213.9 million, but that was lower than a consensus of $214.6 million.
Newport Beach-based William Lyon Homes was up 1.6% to $18.30 and a market cap of about $571 million on news it would form a mortgage lending arm with Santa Ana-based Stearns Lending LLC.
Foothill Ranch-based Wet Seal Inc. was down 49% to 4 cents a share and a $3.4 million market cap on the apparel retailer’s Chapter 11 bankruptcy filing.