Wall Street rebounded Wednesday after Tuesday's plunge on concerns about U.S. home loans and the credit market.

The Dow Jones average rose 150.38, or 1.14 percent, to 13,362.37. The Standard & Poor's 500 index rose 10.54, or 0.72 percent, to 1,465.81, and the Nasdaq composite index rose 7.60, or 0.30 percent, to 2,553.87.

A better-than-expected report on pending home sales boosted the market, said analysts.

The National Association of Realtors said that pending sales of existing homes rose 5 percent in June from a month earlier. It was the largest monthly gain in more than three years.

In corporate news, Dow Jones & Co., publisher of The Wall Street Journal, confirmed it has agreed to be bought by News Corp. for 5 billion U.S. dollars. Dow Jones rose 72 cents to 58.10 dollars.