Major indexes rose on positive signs for a coronavirus vaccine and improved consumer confidence data.
The S&P 500 was up 1.6% to 3,003.19 during midday trading.
The Dow Jones Industrial Average rose 2.4% to 25,059.38.
The Nasdaq climbed 0.9% to 9,406.23.
The yield on a 10-year Treasury bond surged 5.8% to 0.7%.
The price of gold decreased 1.6% to $1,709.
The price for a barrel of oil rose 1.3% to $33.68.
REAL ESTATE
Irvine-based hospitality REIT Sunstone Hotel Investors Inc. (NYSE: SHO) rose 5.7% to $9.02 a share for a market cap of $1.9 billion. Some travel-related stocks were rising on expectations of benefits from the relaxation of pandemic restrictions.
FINANCE
Pacific Premier Bancorp Inc. (NASDAQ: PPBI) in Irvine rose 7.8% to $20.97 per share for a market cap of $1.3 billion. Analyst site SimplyWallSt.com said the day before that “the stock seems fairly valued at the moment” and that “the risk of future uncertainty is high, at least in the near term.”
