Indexes climbed strongly in midday trading for a second consecutive day following two days of steep declines.
The S&P 500 was up 1.5% to 2,066.64. The Dow Jones Industrial Average was up 1.4% to 17,649.24. The NASDAQ was up 1.8% to 4,773.98.
The yield on a 10-year Treasury bond was up 0.7% to 1.47%.
The price of gold was up 0.7% to $1,327.
Irvine-based Western Digital Corp. was up 4.5% to $46.10 and a $13 billion market cap. Shares rose in the storage products maker as RBC Capital Markets said Western Digital competitor Seagate Technology in July could report better-than-expected results for its most recent quarter.
Irvine-based Opus Bank was up 3.5% to $33.42 and a $1.1 billion market cap. Credit Suisse initiated coverage on the bank holding company with an “outperform” rating and a $44 price target.