US stocks closed at multi-year highs yesterday, with the S&P 500 ending at its highest level since before the collapse of Lehman Brothers, as investors hailed a new European bond-buying program aimed at stemming the region’s debt crisis.

Sentiment was also boosted by stronger-than-expected data on the US services sector and labor market, which was especially notable ahead of today’s non-farm August payrolls report.

The rally was broad, with more than three-fourths of stocks listed on both the New York Stock Exchange and Nasdaq ending higher.

The Dow Jones industrial average rose 244.52 points to 13,292. The Standard & Poor’s 500 Index was up 28.68 points at 1,432.12 — its highest level since May 2008, before the financial crisis began to gather steam. The Nasdaq Composite Index rose 66.54 points at 3,135.81.