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The S&P 500 was up 0.2% in midday trading to 2,774.86.

The Dow Jones Industrial Average rose 0.2% to 25,287.47.

The Nasdaq was flat at 7,631.95.

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The yield on a 10-year Treasury bond was down 0.2% to 2.93%.

The price of gold was flat at $1,303.


Shares in local home builders rose after two were part of an investment website item on “undervalued” home builder shares.

Tri Pointe Group Inc. (NYSE: TPH) in Irvine was marked out for beating earnings expectations the last four quarters and a low price-to-earnings ratio; its shares were up 2.2% to $18.21 and a $2.7 billion market cap.

William Lyon Homes (NYSE: WLH) in Newport Beach was cited for a low price-to-earnings multiple and its entry into Texas, a high-growth home market, by its acquisition of RSI Communities. Shares traded 3.2% higher to $24.82 and a $937 million market cap.

New Home Co. Inc. (NYSE: NWHM) in Aliso Viejo was up 4.2% to $10.52 and a $221 million market cap.


Kush Bottles Inc. (OTC: KSHB) in Santa Ana was down 26% to $4.97 and a $326 million market cap. The maker of cannabis products and packaging will sell 7.5 million common shares and warrants for another 3.75 million shares at a combined offering price of $4.80 for gross proceeds of $36 million. Warrants are immediately exercisable at $5.28 a share. The offering closes Tuesday.