The S&P 500 rose 0.81% to 1,970.91 in midday trading Monday.
The Dow Jones Industrial Average rose 1% to 16,833.89 and the Nasdaq rose 0.86% to 4,503.33.
The yield on a 10-year Treasury bond rose 1.66% to 2.38%.
The price of gold dropped below $1,300, down 0.51% to $1,298.10.
HEALTHCARE
Irvine-based drug maker Allergan Inc. is down 1.4% to $156.05 and a market cap of $46.4 billion. Hostile takeover bidder Quebec-based Valeant Pharmaceuticals International Inc. said after markets closed on Friday it would seek to extend its tender offer to Dec. 31. The offer was set to expire Friday. Valeant’s shares were down 1.7% to $110.33 and a market cap of $37 billion.
HOMEBUILDING
Tri Pointe Homes Inc. was up 3.4% to $14.21 and a market cap of $2.3 billion. The Irvine-based builder bought 649 lots in seven communities in California, Nevada, Washington and Virginia. 258 of the lots are in Southern California, with 112 of those in the Villages of Portola Springs development in Irvine.
