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‍Wall Street key indices surged on Friday as technology stocks with a focus on artificial intelligence (AI) extended gains.

As of 10:05 a.m. Eastern Time, the S&P 500 jumped 0.8%, the Dow Jones Industrial Average rose 0.6%, and the Nasdaq Composite surged 1%.

At the open, the Dow Jones Industrial Average rose 87.38 points, or 0.21%, to ⁠48,051.77. The S&P 500 ⁠rose 20.66 points, ‌or 0.33%, to 6,795.42, and the Nasdaq Composite rose 105.27 points, ‍or ‍0.51%, ⁠to 23,111.63.

Shares of Nvidia jumped 3.4% and Broadcom rose 2.4%.

Oracle stock rallied 7% on news that it, along with investors Silver Lake and MGX have signed agreements to form a new TikTok US joint ventur e. The three companies will get a 15% stake each in the popular social video platform.

Nike stock tumbled 9.6% ‍after ‌weak China sales weighed on its quarterly earnings.

Lamb Weston stock fell 19.8%, despite the frozen potato maker’s profit and revenue beat Wall Street forecasts.

Winnebago Industries shares jumped 10.7% after the firm’s quarterly profits and revenue easily beat analysts’ estimates.

Gold prices were little ‍changed on Friday as a stronger US dollar and rising Treasury yields dented demand for the yellow metal.

As of 10:05 A.M. ET (1505 GMT), spot gold rose 0.1% to $4,338.37 an ounce. US gold futures also ⁠gained 0.1% to $4,370.10.

Among other metals, spot silver added 1.5% to $66.38 an ounce, platinum added 2.3% to $1,960.41, and palladium fell 0.1% to $1,693.

The US dollar climbed ⁠to a more than one-week high, making dollar-priced bullion costlier for ⁠overseas buyers.

Meanwhile, US consumer prices rose 2.7% year-on-year in November.

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