The S&P 500 was up 0.3% in midday trading to 2,756.62.

The Dow Jones Industrial Average rose 1% to 24,994.35.

The Nasdaq climbed 0.1% to 7,506.62.

The yield on a 10-year Treasury bond was 0.2% higher to 2.82%

The price of gold was down 0.7% to $1,317.

RESTAURANTS

Shares in Del Taco Restaurants Inc. (Nasdaq: TACO) in Lake Forest were down 11% to $11.25 and a $444 million market cap following yesterday's release of its fourth quarter and full-year results. Net income for the quarter declined and for the year was flat, excluding a $29 million benefit from U.S. tax reform.

SERVICES

Shares in Emerald Expositions Events Inc. (NYSE: EEX) opened higher after a Goldman Sachs upgrade to “neutral” from “sell” with a price target of $20.20 but shares in the trade show operator have declined about 1% on the day to $18.63 and a $1.4 billion market cap.

HEALTHCARE

Avid Bioservices Inc. (Nasdaq: CDMO) was up 16% to $2.75 and a $154 million market cap. Avid this week reported lower third-quarter revenue but maintained full-year guidance. The period included the sale of its developmental cancer drug for $8 million and up to $95 million in milestone payments to focus on drug making for others, a $23 million secondary offering, a name change, and six new independent board members. First Analysis initiated coverage on the contract drug maker with an “overweight” rating and a $4 price target.