The S&P rose on Thursday, erasing earlier losses, as comments by French and German leaders eased market concerns before a key summit this weekend.

The leaders said the euro zone needed a new operating method for the rescue fund, called the European Financial Stability Facility. An agreement will be discussed on Sunday.

The Dow Jones industrial average <.DJI> was up 14.91 points, or 0.13 percent, at 11,519.53. The Standard & Poor's 500 Index <.SPX> was up 2.76 points, or 0.23 percent, at 1,212.64. The Nasdaq Composite Index <.IXIC> was down 7.99 points, or 0.31 percent, at 2,596.05.

(Reporting by Angela Moon, Editing by Kenneth Barry)