The S&P 500 rose 0.65% to 1,437 in midday trading Wednesday.

The Nasdaq was up 0.27% to 3,030, while the Dow Jones Industrial Average was up 0.49% to 13,313.

The yield on a 10-year treasury bond rose 2.61% to 1.69%.

The price of gold was up 0.76% to $1,721 per ounce.

Shares of Irvine-based Standard Pacific Corp. rose about 4% to $7 for a market value of about $2.4 billion. Homebuilders were up generally in midday trading Wednesday on news of an increase in mortgage applications.

Newport Beach-based specialty chemicals maker American Vanguard Corp. fell about 9% to $30 for a market value of $840 million. Basic materials companies were mixed in afternoon trading.

Shares of Tustin-based drug developer Peregrine Pharmaceuticals Inc. were up about 12% to $1.36, a day after the company said it had regained compliance with the NASDAQ’s minimum bid price requirement. Peregrine, with a market value of about $181 million, this week reported less second-quarter red ink than analysts had expected amid boosted quarterly revenue.