Apple $100B Manufacturing Pledge Lifts US Markets

U.S. stocks rallied on Wednesday, led by a nearly 6% surge in Apple shares after the company announced a new $100 billion domestic manufacturing pledge, which investors saw as a response to President Trump’s recent tariffs on Indian imports. The S&P 500 rose 0.7-0.8%, the Nasdaq gained 1.2%, and the Dow Jones advanced modestly, with Apple’s performance driving much of the rally. Optimism was further boosted by upbeat corporate earnings and positive forward guidance, with about 80% of S&P 500 companies reporting results above expectations and Q2 earnings growth estimates rising to 12.1%. McDonald’s and Arista Networks also outperformed, with McDonald's crediting strong global sales. Additionally, rising expectations for a Federal Reserve rate cut in September contributed to the market’s positive tone. Despite ongoing trade uncertainties, investor sentiment remained resilient.