The S&P 500 rose 2.2% to 3,894.83, while the Dow Jones Industrial Average increased 1.9% to 31,519.14.
The Nasdaq climbed 2.4% to 13,504.70.
Crude oil fell 1.8% to $60.39 a barrel.
Gold was down 0.5% to $1,720.80.
The yield on a 10-year Treasury decreased 0.3% to 1.45%.TECHNOLOGY
Santa Ana-based Iteris Inc. (Nasdaq: ITI) surged 24% to $6.84 after the company rejected an acquisition offer announced Monday by Maryland-based Rekor Systems (NASDAQ: REKR). Iteris Board Chairman Tom Thomas said the “unsolicited proposal significantly undervalues the company and is not in the best interests of our shareholders.” Iteris, which provides high-tech systems and sensors to improve traffic flow and safety, has a current market cap of $283 million.
The New Home Company (NYSE: NWHM) rose 4.8% to $4.98 and a $90 million market cap. The Irvine-based homebuilder announced Monday that it has expanded into the Denver market through the acquisition of Colorado-based Epic Homes. New Home’s stock increase was the largest out of a group of homebuilding competitors.