New Delhi, July 31 -- 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.

At the opening bell, the Dow Jones Industrial Average rose 27.0 points, or 0.05%, to 52,235.03. The S&P 500 rose 24.5 points, or 0.33%, to 7,462.13, while the Nasdaq Composite rose 218.5 points, or 0.87%, to 25,340.711.

Oil prices also moved...