The S&P 500 rose 1.4% in midday trading to 2,963.54.

Dow Jones Industrial Average was 1.2% higher to 24,499.03.

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The Nasdaq increased 1.7% to 9,338.08.

The yield on a 10-year Treasury bond declined 2.5% to 0.69%.

The price of gold ticked 0.3% up to $1,750.

A barrel of oil climbed 3% to $32.90.

FINANCE

OC banks moved higher than the general market, rising 5% to 6% apiece.

Pacific Premier Bancorp Inc. (Nasdaq: PPBI) rose 5.6% to $19.54 and a $1.2 billion market cap. Opus Bank (Nasdaq: OPB) rose 6.4% to $17.64 and a $643 million market cap. First Foundation Inc. (Nasdaq: FFWM) was up 5% to $13.90 and a $620 million market cap. Banc of California Inc. (NYSE: BANC) increased 5.6% to $10.56 and a $529 million market cap. Banc of California is in Santa Ana; the others are in Irvine.