Jan. 30 (Bloomberg) -- U.S. stocks rose from a two-month low while Treasuries and gold fell as data showed rising consumer spending and corporate earnings beat estimates. The iShares MSCI Emerging Markets Index ETF advanced and the dollar climbed a fifth day versus the euro.
The S&P 500 rallied 1.3% to 1,796.33 at 12:14 p.m. in New York, erasing yesterday’s decline. The iShares emerging markets ETF jumped 1.4% and European stocks climbed. The 10-year Treasury yield rose four basis points to 2.72% as the U.S. auctions $64 billion in debt. The dollar strengthened 0.7% against the euro, while Hungary’s forint retreated. Gold and natural gas slumped more than 1.4%, aluminum dropped to a four-year low and oil advanced.