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The S&P 500 was up 1% in midday trading to 2,091.77.
The Dow Jones Industrial Average was up 1% to 17,617.24.
The Nasdaq was up 1% to 5,087.27.
The yield on a 10-year Treasury bond was up 0.8% to 2.25%.
The price of gold was flat at $1,096.
Orange County homebuilders were up after the S&P/Case-Shiller index of home prices nationally rose 4.4% for the 12 months ending in May. The 10-city and 20-city indexes were up by similar amounts and all three measures were equal to or greater than April price increases.
Irvine-based Standard Pacific Corp. was up 2.4% to $8.88 and a $2.4 billion market value on its common stock. Irvine-based Tri Pointe Group was up 1.2% to $14.67 and a $2.3 billion market cap. Newport Beach-based William Lyon Homes was up 2% to $24.31 and a $756 million market cap.
Irvine-based Opus Bank was up 2.1% to $39.70 and a $1.1 billion market cap. The holding company reported a second quarter profit yesterday that beat analyst expectations. J.P. Morgan today maintained an “overweight” rating on Opus shares with a price target of $45.