The S&P 500 was up 0.8% in midday trading to 3,579.55.
The Dow Jones Industrial Average rose 0.1% to 23,421.82.
The Nasdaq jumped 2% to 6,689.84.
The yield on a 10-year Treasury bond declined 0.8% to 2.43%
The price of gold rose 0.2% to $1,272.
New Home Co. Inc. (NYSE: NWHM) in Aliso Viejo was down 2% to $10.90 and a $229 million market cap. The developer and builder reported net income of $4.3 million on revenue of about $158 million in its most recent quarter, down from net income of $5.5 million on revenue of about $178 million.
Peregrine Pharmaceuticals Inc. (Nasdaq: PPHM) was up 7% to $4.62 and a $208 million market cap. Two shareholders that collectively hold about 10% of the company put forth a slate of six directors to the cancer drug developer’s board and called for an annual meeting to be held.