The S&P 500 was up 0.5% in midday trading to 2,161.76.
The Dow Jones Industrial Average was up 0.7% to 18,289.53.
The NASDAQ was up 0.7% to 5,327.95.
The yield on a 10-year Treasury bond rose 2.1% to 1.72%.
The price of gold was flat at $1,270.
Irvine-based First Foundation Inc. was up 2.9% to $24.70 and a $401 million market cap. The financial services holding company said it would buy two bank branches in Orange County from Pacific Western Bank. After the transaction it will have 11 locations, which includes nine locally.
Irvine-based Boot Barn Holdings Inc. was up 2.5% to $11.30 and a $299 million market cap on moderate volume. The company runs a chain of western wear stores.