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U.S. Stocks Little Changed on Factory Data; Dollar Gains

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U.S. stocks were little changed after erasing declines in the final half hour of trading, as investors assessed data showing manufacturing cooled. Treasuries rallied and the dollar strengthened amid speculation the Federal Reserve will raise rates this year.

The Standard & Poor’s 500 Index fell less than 0.1 percent at 4 p.m. in New York, erasing a drop of 0.6 percent. The Russell 2000 Index dropped 0.5 percent. The Stoxx Europe 600 Index lost 0.4 percent while the euro weakened to a 4 1/2-year low and the dollar rose versus all of its 16 major peers. The yield on five-year German notes fell below zero for the first time and the rate on 10-year Treasuries dropped five basis points to 2.12 percent.