Stocks Erase Drop Before Index Changes; Commodities Rise
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U.S. stocks erased losses in the final 15 minutes as investors bought shares before changes to MSCI Inc. indexes and weighed developments in budget negotiations. Commodities rose. Treasuries were little changed.
The Standard & Poor’s 500 Index closed up less than 0.1 percent at 1,416.18 at 4 p.m. in New York, erasing an earlier 0.3 percent drop and capping a second straight weekly gain. Yields on 10-year U.S. notes were little changed at 1.62 percent after losing seven basis points during the week amid concern about the U.S. budget talks. The S&P GSCI Index of 24 raw materials added 0.1 percent as industrial metals led gains.