New York, March 24 - Major US stock indices rose Wednesday as investors looking for good news shrugged off a record low for US home sales.

The Commerce Department said sales of new homes plunged 16.9 percent in February from the previous month to a record low annual rate of 250,000, signalling that the housing sector remains in disarray, three years after causing the near-collapse of Wall Street.

But an optimistic report by US bank Wells Fargo, suggesting the housing numbers could be revised upward, helped stocks rally in the afternoon. The numbers seemed to go against the trend of a wider US economy in recovery.

"Investors are looking for some good news," Richard Sichel, chief investment officer at Philadelphia Trust Company, told Bloomberg News. "What people need to understand is that we can have a pickup in different parts of the economy and housing will fully rebound later. There's growth in this country and elsewhere."

The blue-chip Dow Jones Industrial Average climbed 67.39 points, or 0.56 percent, to 12,086.02. The broader Standard and Poor's 500 Index rose 3.77 points, or 0.29 percent, to 1,297.54. The technology-heavy Nasdaq Composite Index was up 14.43 points, or 0.54 percent, to 2,698.3.

The dollar edged lower against the Japanese currency to 80.87 yen from 80.93 yen Tuesday. The US currency climbed against the euro to 70.91 euro cents from 70.43 euro cents. (dpa)