U.S. stocks rose and Treasuries erased early gains as data showed better-than-forecast growth in American payrolls and service industries, offsetting concern over China’s economy. Commodities fell as the dollar strengthened. The Standard & Poor’s 500 Index (HSCEI) added 0.2 percent to 1,448.13 at 11:06 a.m. in New York, after a two-day gain. Yields on 10-year Treasuries were up one basis point at 1.63 percent after falling two basis points earlier. The S&P GSCI gauge of 24 raw materials dropped 2.2 percent, led by energy commodities as oil slid 3.3 percent and natural gas tumbled 3.2 percent. The dollar appreciated against 14 of 16 major peers. S&P 500 futures turned higher before the open of exchanges in New York after ADP Employer Services said companies added 162,000 jobs last month, topping the median forecast of 38 economists surveyed by Bloomberg for a 140,000 advance. Futures and European stocks slipped earlier as a report showed Chinese services industries expanded at the weakest pace since at least March 2011. Best Buy Co. jumped 3.1 percent on a Reuters report the retailer’s founder and buyout firms are scrutinizing the company’s finances. Monsanto Co. fell 2.6 percent as the world’s largest seed company forecast 2013 earnings below analyst estimates. The Stoxx Europe 600 Index (MXEF) fell 0.2 percent after slumping 0.5 percent earlier. The volume of shares changing hands in the index (SXXP)’s companies was 15 percent less than the 30-day average, before a meeting of European Central Bank policy makers tomorrow, according to data compiled by Bloomberg. European Movers FirstGroup Plc (FGP) plunged 20 percent, the most on record, after the U.K. rail operator was stripped of the right to operate West Coast trains from London to Scotland. EasyJet Plc climbed 3.9 percent as Europe’s second-biggest discount airline said full-year earnings beat its forecasts. Oil declined 3.3 percent to $88.90 a barrel. Soybeans fell 1.1 percent to $15.14 a bushel and wheat dropped on signs demand is faltering. Soybeans have climbed 28 percent in the past year and wheat jumped 39 percent as crops were damaged from droughts in the U.S. and Russia. The MSCI Emerging Markets Index fell 0.4 percent, declining for the first time in five days. The Hang Seng China Enterprises Index slid as much as 0.4 percent, most in a week, before paring its loss to less than 0.1 percent. Financial markets in China and South Korea were closed. China’s purchasing managers’ index fell to 53.7 in September from 56.3 in August, according to the National Bureau of Statistics and China Federation of Logistics and Purchasing. Australian Dollar Australia’s dollar declined for a fourth day as the nation recorded its widest trade deficit since 2008 in August. It dropped to as low as $1.0196, the weakest level since Sept. 6. South Africa’s rand depreciated 0.9 percent against the dollar on rising expectations the central bank will cut interest rates to stimulate growth. The dollar was up 0.2 percent at $1.2899 per euro and increased 0.5 percent to 78.54 yen. Yields on 10-year Italian government bonds were little changed at 5.02 percent, after earlier slipping below 5 percent. The rate on similar-maturity Spanish securities added four basis points 5.79 percent. The cost of insuring European corporate and sovereign debt using credit-default swaps fell for a third day, to the lowest levels in more than a week. The Markit iTraxx Crossover Index of swaps on 50 mostly junk-rated companies declined six basis points to 551. Portuguese debt agency IGCP bought 3.76 billion euros ($4.9 billion) of bonds due next year in exchange for securities due in 2015 as the nation takes steps to return to international credit markets. To contact the reporters on this story: Paul Dobson in London at pdobson2@bloomberg.net; Glenys Sim in Singapore at gsim4@bloomberg.net To contact the editor responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net

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