U.S. Stocks Rebound, Commodities Rise as Dollar Slips After Fed

U.S. stocks rebounded following a two-day slump and commodities rose, while the dollar fell, as Federal Reserve Chairman Ben S. Bernanke said the central bank will use monetary tools if necessary to safeguard the economic recovery. Treasuries erased losses.

The Standard & Poor’s 500 Index climbed 1.6 percent to close at 1,237.90 at 4 p.m. in New York. The Stoxx Europe 600 Index ended up 0.9 percent. The Dollar Index slipped 0.2 percent, trimming an earlier drop of 0.7 percent. Treasury 10-year yields were little changed at 1.99 percent after jumping 9 points earlier. The euro gained versus 10 of 16 major peers as European leaders ratcheted up pressure on Greece to accept a bailout. Copper halted a two-day drop and oil rose.