U.S. stocks are closing mixed, pulled in opposite directions by bad news about American manufacturing and relief over Europe's bailout plan for its banks.
Homebuilders are leading major stock indexes higher at the close of trading. Rupert Murdoch's News Corp. surged after the media conglomerate said it may split into two companies.
Stocks are closing sharply higher on Wall Street as traders turn their focus back to corporate news from the U.S. and hopes that the Federal Reserve will come up with a plan to jumpstart the economy.
A burst of enthusiasm over a rescue of Spanish banks melted away within hours Monday, and investor anxiety about the troubled finances of Europe grew on both sides of the Atlantic.