S&P 500 rides wave of optimism to best week in eight (Reuters)

Reuters - The broad S&P 500 index closed its best week in eight on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.

• Payrolls data offer ray of hope for recovery (Reuters) Reuters - U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth.



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• Campbell Soup profit beats Street but sales light (Reuters) Reuters - Campbell Soup Co posted lower-than-expected quarterly sales and forecast sales growth for the new fiscal year below its long-term target as the world's largest soup company grapples with a weak economy.



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• Obama says to address new economic ideas next week (Reuters) Reuters - President Barack Obama will outline new measures next week to boost the U.S. economy after August data on Friday showed again that jobs -- the central issue in November elections -- were being created too slowly.



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• Walgreen same-store sales miss expectations (Reuters) Reuters - Walgreen Co posted weaker-than-expected August sales at stores open more than a year, hurt by generic drug introductions and a decrease in customer traffic.



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• Ex-hedge fund manager charged with insider trading (Reuters) Reuters - A former hedge fund manager has been accused by a U.S. regulator of illegal insider trading in MedImmune Inc securities prior to the acquisition of the pharmaceutical company by Britain's AstraZeneca Plc.



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