Bloomberg News

U.S. Stocks Erase Losses as Treasuries Drop, Euro Pares Decline

October 11, 2011

Oct. 11 (Bloomberg) -- U.S. stocks erased losses as an advance in commodity and technology shares helped the market overcome an early drop triggered by concern Europe’s debt crisis will worsen. Treasuries fell, pushing 10-year note yields to a one-month high, before $66 billion in note and bond auctions this week.

The Standard & Poor’s 500 Index rose 0.1 percent to 1,196.31 as of 10:32 a.m. New York time after slumping as much as 0.6 percent. The 10-year note’s yield climbed nine basis points to 2.17 percent as trading resumed following the Columbus Day holiday. The S&P GSCI Index of commodities pared its drop to 0.5 percent after retreating as much as 1.3 percent. The euro was down 0.2 percent at $1.3611, recovering from an earlier 0.6 percent slide.

--Editor:

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net


Reviving Keynes
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus