Stocks Soar on Fed Stimulus Hopes

U.S. stocks saw an upside to this morning’s disappointing monthly jobs data, with investors hopeful that the sluggish figures will force the Federal Reserve to stimulate the economy. The 96,000 jobs created in August fell short of expectations for the 125,000 jobs a month needed to keep the unemployment rate steady, putting pressure on both Obama and the Fed to act after next week’s Federal Open Market Committee policy meeting. In optimistic anticipation of the meeting, the Dow had its best day on the market since the end of 2007, while the S&P 500 and Nasdaq hit respective four and 12-year highs.