Indices whipsawed in early trading but were a little higher by midday after a steep selloff in the preceding two trading sessions on concerns of rising bond yields and higher inflation.
The S&P 500 rose 0.3% to 2,656.72. The Dow Jones Industrial Average climbed 0.5% to 24,462.21. The Nasdaq increased 0.5% to 7,001.73.
The yield on a 10-year Treasury bond fell 0.9% to 2.77%.
The price of gold fell 0.4% to $1,331.
Newport Beach’s William Lyon Homes (NYSE: WLH) rose 5% to $26.31 and a $998 million market cap. Shares of the homebuilder are still down 19% since Jan. 19.
Costa Mesa’s Veritone Inc. (Nasdaq: VERI) fell 10% to $14.08 and a $226 million market cap. Shares of the company, which is attempting to break into the artificial intelligence market for media, have dropped 40% since Jan. 22. The company is scheduled to report fourth-quarter results on Feb. 26.