New Delhi, May 1 -- Major US stock indices surged on Friday, boosted by strong earnings and a fall in crude oil prices despite the closure of the Strait of Hormuz.

At the open, the Dow Jones Industrial Average rose 180.4 points, or 0.36%, to 49,832.57. The S&P 500 rose 25.5 points, or 0.35%, to 7,234.54​, while the Nasdaq Composite rose 85.5 points, or 0.34%, to 24,977.79.

Oil prices dipped as Iran state media reported that Iran delivered a new proposal for peace talks with the United States via mediator Pakistan.

More broadly across large companies, the first-quarter "earnings growth rate has blown past expectations," said Briefing.com analyst Patrick O'Hare.

"The market remains resolute in its belief that the Iran War and the ...