Up and Up

Stocks Close at Multiyear High

Amid jobs stagnation.

Although job growth numbers for August were disappointing, not all the news on the economy is bad: on Friday, the stock market edged up, ending at multiyear highs on hopes that the Federal Reserve will pump more money into the sluggish economy next week. The Dow Jones industrial average added 14.64 points (or 1 percent) to its total 13306.64, its highest close since 2007, while S&P closed at its highest point since 2008. Friday’s weak jobs numbers amped up expectations that the Fed will announce it will buy new bond purchases. In Europe, central bank chief Mario Daghi unveiled a plan Thursday to buy short-term bonds from euro countries to request help—the most ambitious plan yet to save the troubled currency.