The S&P 500 was up 0.8% in midday trading to 2,738.46.

The Dow Jones Industrial Average rose 1% to 24,476.62.

The Nasdaq climbed 0.6% to 7,547.28.

The yield on a 10-year Treasury bond fell 0.4% to 2.84%

The price of gold was 0.5% higher to $1,257.

FINANCE

Santa Ana’s Banc of California Inc. (NYSE: BANC) climbed 2.8% to $19.58 and a $990 million market cap. Orange County’s largest bank by assets yesterday announced plans to cut its workforce by 9% to align its cost structure to focus on commercial banking. It currently employs 786, implying it will trim 71 jobs.

TECHNOLOGY

CalAmp Corp. (NASDAQ: CAMP) in Irvine rose 3.1% to $23.31 and an $828 million market cap. Shares in the fleet management software maker have climbed 10% since June 27 when it reported fiscal first-quarter revenue and profit that topped analyst consensus estimates.