Wall Street surges as Amazon rallies on strong earnings, chip stocks jump on optimism about AI returns
US stocks surged on Friday, led by a strong rally in Amazon after the e-commerce giant reported robust cloud revenue growth, while semiconductor stocks advanced as investors remained optimistic about the long-term returns from artificial intelligence investments.
At 9:47 a.m. ET, the Dow Jones Industrial Average rose 82.26 points, or 0.16%, to 52,290.32, the S&P 500 gained 10.05 points, or 0.12%, to 7,446.54 and the Nasdaq Composite gained 86.20 points, or 0.34%, to 25,208.37.
