The S&P 500 was up 0.6% in midday trading to 1,894.17.
The Dow Jones Industrial Average was up 0.5% to 16,028.59.
The NASDAQ was up 0.9% to 4,507.21.
The yield on a 10-year Treasury bond was up 0.7% to 2.02%.
The price of gold was flat at $1,116.
Irvine-based Western Digital Corp. was up 4% to $45.38 and a $10.5 billion market cap. Analysts at Mizuho and Susquehanna upgraded shares of competitor SanDisk Corp., which Western Digital plans to buy. Western Digital reports its quarterly results after markets close today.
Irvine-based Banc of California Inc. was up 7.1% to $14.80 and a $560 million market cap. The bank holding firm reported quarterly and annual results before markets opened: Q4 earnings bested estimates by 11 cents a share, and year-over-year net income doubled to $52 million.
Irvine-based NuGene International Inc. was down 19% to 65 cents and a $25 million market cap. Shares have fallen 40% this week. A company director resigned Friday, and the beauty products firm last month borrowed $250,000 by selling convertible and promissory notes to private investors.