Apple Strong Gains Drive U.S. Stocks Rally
(MENAFN) U.S. stocks closed higher Wednesday, driven by strong gains in Apple shares and renewed investor optimism ahead of a major domestic investment announcement by the tech giant.
The Dow Jones Industrial Average edged up 0.18%, adding 81.38 points to settle at 44,193.12. The Nasdaq Composite led the rally with a 1.21% jump, rising 252.87 points to finish at 21,169.42, while the S&P 500 climbed 0.73%, or 45.87 points, ending the session at 6,345.06.
Shares of Apple surged 5.1% following a report by media that the company plans to increase its U.S. manufacturing investment by $100 billion. The move will bring Apple’s total domestic investment to $600 billion over the next four years.
Meanwhile, geopolitical tensions spiked after U.S. President Donald Trump issued an executive order targeting India with steep trade penalties in response to its continued energy ties with Russia.
“To deal with the national emergency described in Executive Order 14066, I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil,” the order stated.
The new 25% tariff will take effect 21 days from the order's signing. The directive tasks Commerce Secretary Howard Lutnick, working alongside Secretary of State Marco Rubio and Treasury Secretary Scott Bessent, with evaluating whether other nations are also sourcing oil from Russia.
In other corporate developments, Google pledged $1 billion to bolster AI research and workforce education across U.S. universities. Shares of Alphabet, Google’s parent firm, rose 0.82% following the announcement.
McDonald's climbed 3% after posting stronger-than-expected Q2 earnings. On the downside, AMD tumbled 6.42% as its quarterly profits missed forecasts.
Arista Networks delivered standout performance, surging 17.4% on robust earnings. In contrast, Super Micro Computer plummeted 18.3% after underwhelming financial results.
Walt Disney dipped 2.7% despite beating earnings estimates, as revenue disappointed. Uber fell 0.3% even though it posted stronger-than-expected revenue.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
