Despite the reportedly disappointing inaction from both the Fed and the ECB this week, stocks have continued their push higher after the headline jobs numbers came in better than expected. With the majority of companies having already reported earnings, and sideways economic data, it seems hard to see new rounds of easing anytime soon and we’ll quickly find out which of these is most important to the markets. Bloomberg continues, “U.S. stocks rose, halting a four-day decline for the Standard & Poor’s 500 Index, after government data showed payrolls climbed more than forecast in July even as the jobless rate unexpectedly rose to a five-month high.

LinkedIn Corp. (LNKD), the biggest professional-networking website, surged 14 percent after forecasting sales that beat estimates. Facebook Inc. (FB), which has tumbled 47 percent since it went public, rose 2.4 percent. American International Group Inc. (AIG) added 1.6 percent amid a 27 percent jump in profit. Knight Capital Group Inc. (KCG) advanced 27 percent after tumbling 75 percent in two days on losses from a trading breakdown. About seven stocks gained for each that fell on U.S. exchanges at 9:39 a.m. New York time. The S&P 500 advanced 1.3 percent to 1,383.34, after dropping 1.5 percent in four days. The Dow Jones Industrial Average added 163.55 points, or 1.3 percent, to 13,042.43. Trading in S&P 500 companies was up 12 percent from the 30-day average at this time of day…”