U.S. Stocks Rise on Earnings as Yen Weakens; Gold Tops $1,400

U.S. stocks rose, paring the worst weekly drop for the Standard & Poor’s 500 Index since November, amid better-than-estimated earnings and Group of 20 nation talks aimed at bolstering the global economy. The yen weakened, gold climbed above $1,400 an ounce and oil advanced.

The S&P 500 gained 0.9 percent at 4 p.m. in New York, trimming its weekly loss to 2.1 percent. The Dow Jones Industrial Average’s gain was limited to less than 0.1 percent as International Business Machines Corp. plunged the most in eight years after earnings trailed estimates. The yen tumbled at least 1 percent against all 16 major peers. Ten-year Treasury yields climbed two basis points to 1.70 percent. Gold for immediate delivery rose for a fourth day and oil gained for a second, while copper slid into a bear market. The pound weakened as Britain lost its top credit grade at Fitch Ratings.