U.S. Stocks Regain Advance With Late-Day Rally; Dollar Weakens

Stocks gained, with the Standard & Poor’s 500 Index rising from a 10-month low, on speculation earnings growth will help the market rebound from its lowest valuation since 2009, while a Spanish bond sale quelled concern the nation will struggle to fund its deficit. The dollar fell.

The S&P 500 ended 0.5 percent higher at 1,028.06 at 4 p.m. in New York, after briefly erasing a 2 percent morning rally and then recovering in the final half hour. The Dow Jones Industrial Average snapped a seven-day losing streak, its longest since the financial crisis in 2008. The dollar slid versus 15 of 16 major currencies. Australia’s dollar rallied as the nation’s central bank paused in lifting interest rates. Treasuries advanced.