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The Nasdaq was up 0.62% to 3,140 in midday trading Wednesday, while the Dow Jones Industrial Average rose 0.25% to 13,516.

The S&P 500 was up 0.49% to 1,453.

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The yield on a 10-year treasury bond rose 0.93% to 1.63%.

The price of gold was up 0.24% to $1,780 per ounce.

Shares of Irvine-based Standard Pacific Corp. were up about 8% to $7 for a market value of $2.5 billion. Homebuilders were generally up on positive indicators for mortgage applications.

Biolase Technology Inc. rose 34% to $2, after the Irvine-based dental laser maker said it received FDA and European approvals on its Epic 10 laser. Biolase has a market value of about $71 million.

Shares of Irvine-based online media company Local Corp. were up nearly 10% to $2 for a market value of $46 million.