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The S&P 500 was up 0.5% in midday trading to 2,057.45.
The Dow Jones Industrial Average was up 0.4% to 17,605.11.
The NASDAQ was up 0.9% to 4,755.71.
The yield on a 10-year Treasury bond was up 3.5% to 1.82%.
The price of gold was down 0.2% to $1,274.
Irvine-based Western Digital Corp. was up 5% to $38.56 and an $11 billion market cap on above-average volume. Shares in the storage products maker have climbed 10% in the last two days as Western Digital said it would give updated 2016 guidance next week that accounts for its recent acquisition of SanDisk Corp.
Orange County bank holding companies rose as financial stocks and Treasury yields were up on investors watching for an increase in interest rates.
The largest local banks by market cap, all in Irvine, were up. Opus Bank was up 2.4% to $36.66 and a $1.3 billion market cap. Banc of California Inc. was up 4% to $19.10 and an $814 million market cap. Pacific Premier Bancorp Inc. was up 4.2% to 23.27 and a $618 million market cap. Shares in other local banks rose 1.5% to 2.5%.
Irvine-based Boot Barn Holdings Inc. was down 4.7% to $5.86 and a $154 million market cap. The western wear retailer’s shares have been battered this year; it’s scheduled to report quarterly earnings today after markets close.