The S&P 500 was up 1% to 1,993.21 in midday trading.
The Dow Jones Industrial Average was up 0.9% to 17,216.42 and the Nasdaq rose 0.8% to 4,583.64.
The yield on a 10-year Treasury bond rose 1.4% to 2.1%.
The price of gold was flat at $1,194.
TECHNOLOGY
Irvine-based Western Digital Corp. was up 2.7% to $107.38 and a market cap of $25 billion as Citigroup analysts issued a report on personal computers that projected higher unit sales for the product, and countered “the widely held belief that traditional PCs will go the way of the dodo” because of the rise of tablet devices.
RETAIL
Foothill Ranch-based the Wet Seal Inc. was up 15% to 6 cents and a market cap of about $5 million. The teen apparel retailer said it would offer certain rights to shareholders designed to “act as a deterrent to any person acquiring 4.99% of more” of the company’s shares without board of directors’ approval. Any shareholders currently holding more than 5% of Wet Seal’s shares are exempt, subject to conditions, the company said.
