Ian King, Bloomberg

Newly optimistic investors sent stocks sharply higher today, propelling the Dow Jones industrials 112 points higher as new economic data showed strength in manufacturing.

A downgrade of the semiconductor sector sent technology shares lower on Wall Street today, but the overall stock market ended mixed as large-caps benefited from a late-day rally.

The Dow Jones industrial average closed down 92.59, or 0.9%, at 10,609.92.

Wall Street traded tentatively today, with investors bidding blue chips moderately higher but selling technology issues on another string of semiconductor downgrades.