The S&P 500 was up 0.4% in midday trading to 2,734.68.

The Dow Jones Industrial Average rose 0.4% to 25,186.59.

The Nasdaq climbed 0.7% to 7,124.22.

The yield on a 10-year Treasury bond jumped 1.1% to 2.48%.

The price of gold was flat at $1,321.

TECHNOLOGY

Microsemi Corp. (Nasdaq: MSCC) in Aliso Viejo was up 2.4% to $56.10 and a $6.6 billion market cap. The company makes semiconductors.

Universal Electronics Inc. (Nasdaq: UEIC) in Santa Ana was up 4% to $50.20 and a $718 million market cap. The company makes remote controls, audio-video accessories and software.

FINANCE Impac Mortgage Holdings Inc. (NYSE: IMH) in Irvine was down 4.2% to $10.68 and a $224 million market cap. The company is a mortgage lender.