Homebuilders see Wall Street rally
Homebuilders have led major US stock indexes higher at the close of trading, while Rupert Murdoch's News Corp surged after the media conglomerate said it may split into two companies.The Dow Jones industrial average rose 32 points to close at 12,535. The broader Standard&Poor's 500 index rose six points to 1,320.
PulteGroup, Lennar and other housing stocks climbed after a measure of national home prices rose 1.3% in April, the first increase in seven months.
News Corp jumped 8% after the company confirmed that it is contemplating a break-up into two publicly traded companies.
In other trading, the Nasdaq composite rose 18 points to 2,854.
Nearly two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was thin at 3.3 billion.
Nearly two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was thin at 3.3 billion.
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