Major indices were up strongly in midday trading in a cautious signal that the market’s recent decline had bottomed out.
The S&P 500 was up 1.4% to 1,910.98. The Dow Jones Industrial Average was up 1.1% to 16,229.58. The Nasdaq was up 1.9% to 4,602.88.
The yield on a 10-year Treasury bond was up 0.8% to 2.07%.
The price of gold was down 1% to $1,115.
TECHNOLOGY
Irvine-based Western Digital Corp. was up 14% to $78.90 and an $18.3 billion market cap. The storage products maker said a China-based company would buy a 15% stake in the company for $3.8 billion.
RESTAURANTS
Lake Forest-based Del Taco Restaurants Inc. was up 6% to $13.96 and a $542 million market cap on moderately high volume.
