U.S. Stocks Rebound While Yen Plunges on Stimulus Efforts

U.S. stocks advanced, rebounding from yesterday’s drop, as central banks in Japan and Europe reassured investors that they will keep economies awash in cash to bolster growth. Commodities slid for a fifth day and the yen weakened the most since October 2011.

The Standard & Poor’s 500 Index added 0.4 percent at 4 p.m. in New York, rebounding from yesterday’s 1.1 percent retreat from a record. The S&P GSCI Index of 24 commodities lost 1 percent and has tumbled about 3.9 percent in five days. Ten-year Treasury yields fell five basis points to 1.76 percent, the lowest since Jan. 2. Japan’s currency depreciated 3.3 percent to 96.25 yen per dollar while Korea’s won slid to a six-month low. The euro reversed early losses to rally 0.7 percent to $1.2934.