The S&P 500 rose 0.9% to 1,977.90 in midday trading Tuesday.
The Dow Jones Industrial Average was up 0.98% to 16,991.34, while the Nasdaq was up 1.4% to 4,469.80.
The yield on a 10-year Treasury bond rose 1.71% to 2.56%.
The price of gold was up 0.48% to $1,328.30.
TECHNOLOGY
Irvine-based Western Digital was up 3.1% to $95.10 and a market cap of $22.35 billion. New York City-based Brean Capital LLC said it expects the company to beat expectations when it reports earnings at the end of the month. The analyst said Western Digital could report EPS as high $1.90 versus a consensus $1.71. It maintained a price target of $125 for the drive drive maker’s.
APPAREL
Foothill Ranch-based Wet Seal Inc. was up 13.2% to $1.03 and a market cap of $87 million. Los Angeles-based B. Riley & Co. upgraded the company to “neutral” from “sell”—a reversal from its downgrade of the company in March. By midday Wet Seal had traded 1.8 million shares vs. a 90-day full-day average of 1.64 million shares.
The move drew other OC companies upward. Huntington Beach-based Quiksilver Inc. rose 2.2% to $3.66 and a market cap of $624 million. Irvine-based Tilly’s Inc. was up 3.7% to $8.34 and a market cap of $233 million. Anaheim-based Pacific Sunwear of California Inc. was up 2.1% to $2.43 and a market cap of $168 million.
