Nasdaq Climbs Thanks to Apple's Manufacturing Pledge

U.S. stocks saw an uptick on Wednesday, with the Nasdaq leading the way, thanks to a more than 1% increase. The positive movement was driven by Apple's announcement of a substantial $100-billion domestic manufacturing pledge, as well as optimistic corporate earnings reports.

Apple's commitment significantly bolstered all major indexes, with notable gains also seen in McDonald's and Arista Networks shares. This comes despite ongoing concerns about tariffs, as articulated by Sam Stovall of CFRA Research, who noted investor optimism for the near term.

Economic indicators fuel the anticipation of a Federal Reserve rate cut in September, with odds now standing at 93.2%. While some companies like Advanced Micro Devices faced setbacks, others, such as Walt Disney, reported strong quarters despite a slight dip in shares.

(With inputs from agencies.)