Stocks Advance on U.S. Manufacturing as Euro, Spanish Bonds Rise

Stocks climbed, rebounding from the worst weekly drop in four months, as U.S. manufacturing unexpectedly expanded. Spanish bonds gained with the euro as stress-test results bolstered confidence in Spain’s banking system. Gold touched the highest price since November.

The Standard & Poor’s 500 Index rose 0.3 percent at 4 p.m. in New York, trimming earlier gains as Apple Inc. slumped. Spanish 10-year yields declined for a third day, slipping six basis points to 5.88 percent. The euro advanced against all 16 major peers. The S&P GSCI gauge of commodities added 0.2 percent as natural gas and sugar led gains. Gold futures pared gains after rising as much as 1.2 percent to $1,794.40. Treasury yields traded near three-week lows.