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The S&P 500 was up 0.8% in midday trading to 2,157.79.

The Dow Jones Industrial Average was up 1.1% to 18,528.94.

The NASDAQ was up 0.6% to 5,226.64.

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The yield on a 10-year Treasury bond was up 11% to 2.07%.

The price of gold was flat at $1,278.


Irvine-based Biolase Inc. was up 18% to $1.70 and a $115 million market cap. The dental laser maker reported a net loss of $4.2 million on revenue of $13.2 million in its most recent quarter. The loss was 41% lower and revenue was 18% higher year-over-year and Biolase reported improvements in higher margins and lower costs.

Irvine-based Aerie Pharmaceuticals Inc. was up 10% to $38 and a $1.3 billion market cap on moderate trading volume. The company is developing drugs to treat eye diseases.

Costa Mesa-based Nemus Bioscience Inc. was down 20% to 44 cents and a $9 million market cap. The company develops cannabis-related therapies whose commercial prospects may be adversely affected by wider personal use of marijuana, approved by voters in several states yesterday.


Two makers of cannabis-related products were also down on these concerns. Santa Ana-based Kush Bottles Inc. was down about 13% to $3.97 and a $189 million market cap and Terra Tech Corp. in Newport Beach was down 7% to 46 cents and a $225 million market cap.