U.S. stocks advanced after two days of losses as the Federal Reserve begins a policy meeting. European equities rebounded from a four-month low, while the euro slipped as investors assessed the prospects for a resolution to Greece’s debt crisis.
The Standard & Poor’s 500 Index climbed 0.3 percent at 12:24 p.m. in New York, rising above its average price for the past 100 days. The Stoxx Europe 600 Index rose 0.6 percent after erasing a 1.1 percent loss. The euro weakened 0.5 percent to $ 1.1232. The yield on 10-year Treasury notes fell three basis points to 2.32 percent, while German bund rates slipped to 0.80 percent. Gold fell 0.4 percent.
The Federal Reserve starts a two-day meeting with investors speculating rates will remain unchanged. The Greek debt crisis worsened Tuesday as Prime Minister Alexis Tsipras accused the International Monetary Fund of “criminal” responsibility for his country’s predicament, while German Chancellor Angela Merkel said she was counting on a June 18 meeting of euro-area finance ministers to end the standoff.