The S&P 500 was up 0.6% in midday trading to 2,277.47.
The Dow Jones Industrial Average was up 0.6% to 19,911.70.
The NASDAQ was up 0.6% to 5,587.22.
The yield on a 10-year Treasury bond rose 2.4% to 2.46%.
The price of gold fell 0.2% to $1,215.60.
Irvine-based Western Digital Corp. was up 4.6% to $75.99 and a market cap of $21.7 billion. Jefferies reiterated its “buy” rating of the memory products maker and raised its price target to $90.
Home builder stocks are up after the nation’s largest builder reported a double-digit increase in new home orders.
Irvine-based CalAtlantic Group Inc. was up 4% to $34.90 and a market cap of $4.1 billion. Irvine-based Tri Pointe Group Inc. was up 5.5% to $12.58 and a $2.0 billion market cap. Newport Beach-based William Lyon Homes was up 5.9% to $17.62 and a $560 million market cap. Aliso Viejo-based New Home Company Inc. was up 2.4% to $11.25 and a $233 million market cap.
Irvine-based Pacific Premier Bancorp Inc. was up 8.6% to $39.10 and a market cap of $1.1 billion. The bank for its most recent quarter reported net income of $12 million, or 45 cents per share after adjusting for mergers and acquisitions, and annual net income of $40.1 million, or $1.46 per share, on revenue of $172.7 million.