U.S. stocks jumped to their highest level in almost a year after Federal Reserve’s Beige Book survey said the economy is showing signs of stabilization.  Although shares closed off their session highs, the report was enough to lift sentiments on the Street.  However, the report did indicate that labor markets are weak and retail sales are not picking up.  Industrial shares rallied after Goldman Sachs raised its view on the U.S. multi-industry group, noting the industrial activity is picking up.  Treasuries made a partial comeback after the government’s 10-year note auction witnessed a strong response.

The greenback remained near its year lows against a basket of currencies while gold prices eased a little to settle at $995.30.  Crude prices were slightly up ahead of the September OPEC meeting.

The Dow Jones industrial average, which rose as much as 80 points earlier in the session, pared some gains to close