Wall Street barreled ahead in spite of bad economic news. Big blue chips and homebuilders helped Wall Street indexes shake off the dismal economic data. US consumer confidence fell to the lowest level in five years and wholesale inflation picked up.

Federal Reserve Vice Chairman Donald Kohn said that the possibility of even slower economic growth pose a greater threat than inflation. The remarks were viewed as suggestive that more interest rate cuts were on the way.

The dollar sank to a record low against the euro and treasury notes rose for the first time in three days.

IBM, the world's biggest computer-services company, rose to a four-month high on news that they will buy back $ 15 billion of stock.

A surge in oil prices helped energy shares and homebuilders advanced as the December drop in home prices was smaller than what economists' estimated.

The Dow Jones industrial average gained 114.70 points, or 0.91%, at 12,684.92. The Standard & Poor's 500 Index shot up 9.49 points, or 0.69%, at 1,381.29. The Nasdaq Composite Index added 17.51 points, or 0.75%, at 2,344.99.

Crude prices rose above $ 100 a barrel continuing upward pressures from the weakening dollar, geopolitical concerns.

It is also estimated that OPEC supply will fall by 200,000 barrels a day. Ministers from the 13 members of OPEC are scheduled to meet in

Vienna on March 5 to discuss oil quotas. OPEC produces more than 40% of the world's crude oil.

A look at how the Indian ADRs performed:

Name Infosys Sify Rediff.com India Satyam Wipro ICICI Bank HDFC Bank MTNL VSNL Dr Reddy's Lab Tata Motors Patni Computer Sterlite Ind

Symbol INFY SIFY REDF SAY WIT IBN HDB MTE VSL RDY TTM PTI SLT

Price 42.41 4.78 8.37 26.74 12.31 56.31 113.18 6.34 25.88 14.32 18.14 13.19 21.24

Change 0.28 0.04 0.16 0.13 0.24 0.71 -0.95 0.13 1.52 0.08 0.02 0.06 0.89

Change% 0.66% 0.84% 1.95% 0.49% 1.99% 1.28% -0.83% 2.09% 6.24% 0.56% 0.11% 0.46% 4.37%

Volume 2,531,977 104,363 87,542 483,929 464,336 2,049,131 714,368 145,345 100,000 194,199 921,078 57,402 1,380,339

High 42.88 4.81 8.49 27.18 12.35 56.70 113.65 6.36 25.90 14.54 18.19 13.41 21.75

Low 41.68 4.67 8.18 26.02 11.83 54.85 110.14 6.15 24.50 14.09 17.76 13.03 20.60