The S&P 500 climbed 0.7% in midday trading to 2,821.87.

The Dow Jones Industrial Average was up 0.6% to 25,467.97.

The Nasdaq rose 0.7% to 7,684.80.

The yield on a 10-year Treasury bond dropped 0.6% to 2.96%.

The price of gold increased 0.3% to $1,235.

FINANCE

Irvine-based First Foundation Inc. (Nasdaq: FFWM) dropped 5.6% to $15.63 and a $694 million market cap. Shares of the company, which provides banking and wealth-management services, have fallen 13% since yesterday, when it reported second-quarter profit that missed analysts’ consensus estimate.

RESTAURANTS

BJ’s Restaurants Inc. (Nasdaq: BJRI) in Huntington Beach climbed 4% to $63.35 and a $1.32 billion market cap. Shares dropped 3.9% yesterday, the biggest one-day drop in more than a year, as its sector fell. The casual-dining chain’s shares are still up 74% year-to-date.