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Wall Street rises as Amazon jumps and chip stocks gain

Amazon shares surged 12% at the open after the company reported strong cloud revenue growth, helping lift the S&P 500 and Nasdaq.

Reported · Written up by our desk · Sectors

US stocks opened higher on Friday, with the rally led by Amazon and chip-related gains, according to LiveMint Markets.

At the opening bell, the Dow Jones Industrial Average rose 27.0 points, or 0.05%, to 52,235.03. The S&P 500 climbed 24.5 points, or 0.33%, to 7,462.13, while the Nasdaq Composite jumped 218.5 points, or 0.87%, to 25,340.71.

LiveMint Markets said Amazon shares were up 12% after the company reported strong cloud revenue growth, boosting broader market sentiment.

Latest closeS&P 500 7,437.63 ▲1.7%|Nasdaq Comp. 25,122.18 ▲2.8%|Dow Jones 52,208.06 ▲1.2%

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