US stocks have surged as Berkshire Hathaway announced a $US37.2 billion ($A50.2 billion) acquisition of Precision Castparts and petroleum-linked equities rose on higher oil prices.

US stocks have surged as Berkshire Hathaway announced a $US37.2 billion ($A50.2 billion) acquisition of Precision Castparts and petroleum-linked equities rose on higher oil prices.