U.S. indexes rallied Monday following a sell-off Friday, with the Nasdaq surging 1.5% to 9.284.39; the S&P 500 increasing 0.9% to 3,255.87; and the Dow Jones jumping 0.7% to 28,453.07.
The yield on a 10-year Treasury bond rose 0.7% to 1.53%.
The price of gold decreased 0.5% to $1,580.
A barrel of oil fell 1.5% to $50.78.
FINANCE
Irvine-based Pacific Premier Bancorp (Nasdaq: PPBI) was down 1.6% to $29.26 and a $1.7 billion market cap on news it will buy cross-town rival Opus Bank for about $1 billion in stock. Opus was 2.5% lower to $25.96 and a $927 million market cap. In earlier trading, each had initially declined about 5%.
REAL ESTATE
Aliso Viejo-based New Home Company Inc. (NYSE: NWHM) was up 5.1% to $5.49 and a $110 million market cap. The homebuilder today opened a 135-home Inland Empire community. Shares are up 20 % year to date.
