The S&P 500 climbed 0.4% in midday trading to 2,590.87.

The Dow Jones Industrial Average increased 0.5% to 23,760.25.

The Nasdaq rose 0.1% to 6,878.69.

The yield on a 10-year Treasury bond increased 1.5% to 2.77%.

The price of gold dropped 0.7% to $1,338.

FINANCE

Impac Mortgage Holdings Inc. (NYSE: IMH) in Irvine rose 4.2% to $7.96 and a $259 million market cap. Shares of the mortgage lender are still down 52% from their 52-week high last May.

MANUFACTURING

Anaheim-based Bridgford Foods Corp. (Nasdaq: BRID) increased 3.7% to $14.93 and a $135 million market cap. Volume was about 6% of its daily average of the past three months. Bridgford, which makes frozen and snack food products, has plunged 30% since its 52-week high on March 6.