U.S. Stocks Rebound as Yen Climbs, Commodities Slide

U.S. stocks rose, erasing earlier losses, as investors watched earnings ahead of central bank meetings next week. The yen climbed after a jump in consumer prices reduced speculation Japan will need to boost stimulus, while commodities slid as China cut manufacturing capacity.

The Standard & Poor’s 500 Index increased 0.1 percent to 1,691.65 at 4 p.m. in New York, after dropping as much as 0.8 percent. The gauge was down less than 0.1 percent for the week, snapping a four-week rally. The Stoxx Europe 600 Index slipped 0.2 percent. Japan’s currency rose 1 percent to 98.27 per dollar, bringing this week’s gain to 2.4 percent. The S&P GSCI gauge of 24 raw materials dropped 0.6 percent, with copper down 2.5 percent and West Texas Intermediate oil falling 0.7 percent. Treasuries rose for a second day.