The S&P 500 closed at a four-year high on Thursday, as stocks surged on news that the European Central Bank is taking steps to shore up the embattled euro currency. Markets were also buoyed by a report showing that private employers had added more jobs in August than previously expected. The S&P climbed 26.43 points, or 1.88 percent, to end the day at 1,429.87, its highest close since May 2008, just months before the financial crisis struck. The Nasdaq Composite Index, which largely trades in tech stocks, rose more than 2 percent to close at its highest level in 12 years.
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