U.S. Stocks Erase Gains on Index Changes; Treasuries Rise

U.S. stocks erased gains as investors sold equities in the final 30 minutes of trading before changes to MSCI Inc. indexes, trimming an earlier rally after improved housing data. Treasuries advanced while Europe’s benchmark gauge fell for the first time in three days.

The Standard & Poor’s 500 Index rose less than 0.1 percent to 1,802.75 by 5 p.m. in New York, paring a gain of as much as 0.3 percent, while the Nasdaq Composite Index closed above 4,000 for the first time since 2000. The Stoxx Europe 600 Index lost 0.6 percent. Five-year U.S. Treasury yields slid three basis points to 1.31 percent on stronger-than-forecast auction demand. The euro and the yen gained 0.5 percent versus the dollar, while crude oil slipped a third day and silver sank.