Stocks Reverse Declines as Banks Rally; Treasuries, Euro Retreat

Most U.S. stocks rose, reversing an early slump, as banks and technology companies rallied and employment data bolstered optimism in the economy. Treasuries fell, while the euro and commodities dropped.

The Standard & Poor’s 500 Index added 0.3 percent to 1,281.06 at 4 p.m. in New York after losing as much as 0.9 percent. About three shares rose for every two that fell on U.S. exchanges. The Dow Jones Industrial Average slipped 2.72 points, or less than 0.1 percent, to 12,415.7. Ten-year Treasury yields gained two basis points to 2.00 percent. Banks led European stocks lower as the euro weakened to a 15-month low versus the dollar and Italian, Spanish and French bond yields rose. Sugar and natural gas led a drop in commodities.