The S&P 500 was down 0.2% in midday trading to 2,381.17.
The Dow Jones Industrial Average was down 0.1% to 20,934.31.
The NASDAQ was down 0.1% to 5,896.57.
The yield on a 10-year Treasury bond rose 0.8% to 2.53%.
The price of gold rose 2.4% to $1,230.
Masimo Corp. in Irvine was down 4% to $92.54 and a $4.7 billion market cap. Piper Jaffray & Co. downgraded shares in the medical device maker to “neutral.”
Glaukos Corp. in San Clemente was up 4% to $47.51 and a $1.6 billion market cap. The glaucoma treatment device maker said an American Medical Association panel gave five-year extensions to three medical procedures that can include Glaukos products; such AMA actions allow for Medicare reimbursement of the procedures.
OC home builders were up after the Federal Reserve Board raised interest rates, a move that’s expected to goose new home closings in the short term and is being taken as a sign of a strong economy.
CalAtlantic Group Inc. in Irvine was up 3.4% to $38.27 and a $4.5 billion market cap. Tri Pointe Group Inc. in Irvine was up 3.6% to $13.23 and a $2.2 billion market cap. William Lyon Homes in Newport Beach was up 1.6% to $20.60 and a $659 million market cap. New Home Co. Inc. in Aliso Viejo was up 1% to $10.74 and a $227 million market cap.