US stock market rises as Amazon and chipmaker gains; oil prices hike prompt worries amid inflation concerns

Amazon and resurgent stocks of computer chipmakers are leading the U.S. stock market higher on Friday, even as oil prices rise and worries about inflation weigh on the bond market.

The S&P 500 rose 0.7% at the end of a seesaw week that could be its first winning one in the last three. The Dow Jones Industrial Average was up 179 points, or 0.3%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 1.3% higher.