S&P 500 Index Jumps to Highest Level Since January 2008

On the day President Obama accepts his party's presidential nomination, a key benchmark in the U.S. stock market  soared to its highest level in four years. Standard & Poor's 500 stock index jumped two percent, closing at its highest level since January 2008; the Dow Jones industrial average and Nasdaq also showed sharp gains.  Fueled by actions taken by the European Central Bank, stock prices were already on the rise, thanks to promising data on the  U.S. employment picture.