US stocks rose on Wednesday as a dividend increase by Procter&Gamble and rising confidence in the homebuilding sector outweighed fears about demand in the technology sector.

Procter & Gamble gave consumer companies a much needed boost amid falling retail sales numbers after the company raised its dividend for the 52nd straight year. It lifted its quarterly shareholder payout 10 per cent to 44 cents, and its shares gained 3.2 per cent to $48.75.