The S&P 500 was up 0.7% in midday trading to 2,947.19.

The Dow Jones Industrial Average also rose 0.7%, to 26,691.72.

The Nasdaq was 0.6% higher to 8,035.30.

The yield on a 10-year Treasury bond dipped 1.3% to 2.00%.

The price of gold jumped 3.3% to $1,394.

The price of oil was also up, by 5.5% to $56.73 a barrel.

HEALTHCARE

HCP Inc. (NYSE: HCP) was up 3.4% to $33.53 and a $16.3 billion market cap. The health facilities REIT said it will buy back up to $400 million of debt; the notes bear interest of 4% and 4.25%.

REAL ESTATE

First American Financial Corp. (NYSE: FAF) was up 2.8% to $55.74 and a $6.2 billion market cap. The title and financial services firm released it “Potential Home Sales Model” report for May, which showed a 0.4% month-to-month increase to a seasonally adjusted 5.2 million existing home sales. Susquehanna initiated coverage on First American yesterday with a “positive” rating and a $73 price target, sparking a 2% bump.

RESTAURANTS

BJ’s Restaurants Inc. (Nasdaq: BJRI) in Huntington Beach rose 6.3% to $43.94 and a $911 million market cap. It got an upgrade from Oppenheimer earlier this month with a price target of $52; the analyst said the casual dining chain’s share decline of about 15% this year had created the opportunity.