U.S. stocks erased losses in the final hour of trading as Apple Inc. rebounded from a six-week low, helping the market recover from a drop triggered by concern about Spain’s finances. Treasuries rose and the dollar fell.
The Standard & Poor’s 500 Index added less than 0.1 percent to close at 1,445.75 after retreating 0.4 percent in early trading. Ten-year Treasury yields decreased one basis point to 1.62 percent, declining for the 11th time in 12 days. The Dollar Index slipped for a second day, with the euro up 0.3 percent at $1.2920. Australia’s currency weakened at least 0.7 percent against all 16 major peers after the central bank cut its benchmark interest rate to the lowest since 2009.