U.S. Stocks Rebound From 2-Week Low; Euro Erases Loss

U.S. stocks rose, with benchmark indexes rebounding from two-week lows, as consumer, energy and financial shares led gains. The euro reversed an earlier drop versus the dollar triggered by a surge in yields at auctions in Italy and Spain. Corn and coffee led commodities higher.

The Standard & Poor’s 500 Index advanced 0.5 percent to close at 1,319.99 at 4 p.m. in New York. The euro was little changed at $1.2496 after slumping 0.5 percent. The Spanish two-year note yield added 37 basis points to 5.22 percent and rates on two-year Italian debt jumped 34 basis points. Corn surged as dry weather hurts U.S. crops. Oil rose, while remaining below $80 a barrel for a fourth day. Natural gas climbed 2.7 percent.