U.S. Stocks Climb While Yen, Gold Trim Gains on Debt Talk

U.S. stocks rose, erasing early losses, as Senate leaders in both parties said they are optimistic about ending a partial government shutdown and preventing the nation from breaching the debt ceiling in three days. The yen and gold pared gains.

The Standard & Poor’s 500 Index added 0.4 percent to an almost one-month high of 1,710.14 at 4 p.m. in New York, reversing a loss of as much as 0.7 percent. Trading of S&P 500 stocks was 17 percent below the 30-day average and the U.S. cash bond market was shut for Columbus Day. The Nasdaq-100 Index jumped to a 13-year high. The cost of insuring against losses on Treasuries climbed. The Stoxx Europe 600 Index added 0.2 percent. Gold gained 0.7 percent, trimming a 1.4 percent rise, and natural gas touched the highest in almost four months.