U.S. stocks rebounded sharply on Wednesday, fully erasing last Friday's losses, as upbeat corporate earnings and renewed investor optimism outweighed concerns over escalating trade tensions.
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Apple Inc. (NASDAQ:AAPL) led the charge among mega-cap names, jumping nearly 6% after the White House unveiled a new $100 billion manufacturing investment plan aimed at boosting domestic production.
The move is seen by investors as a possible signal toward a more favorable tariff environment for Apple, even as President Donald Trump imposed an additional 25% tariff on Indian imports in response to the country's continued purchases of Russian oil. This brings the overall tariff rate on Indian goods to 50%.
With no significant economic data released during the session, market focus remained firmly on corporate earnings and forward guidance.
The S&P 500 rose 0.8% to 6,345, reclaiming levels from before last week's disappointing July jobs report.
The Nasdaq 100 outperformed, climbing 1.2%, while the Dow Jones Industrial Average lagged slightly, gaining 0.3%.
Small caps took a breather, falling 0.4% after two positive closes.
Crude oil saw choppy action, briefly falling to $64.60 per barrel before rebounding on news that the U.S. will implement fresh sanctions on Russia this Friday. Gold and silver were little changed at $3,376 and $37.80 per ounce, respectively.
Bitcoin (CRYPTO: BTC) rose 0.8%, trading above $115,000.
Wednesday’s Performance In Major US Indices, ETF
| Major Indices | Price | %Chg |
| Nasdaq 100 | 23,291.27 | 1.2% |
| S&P 500 | 6,346.51 | 0.8% |
| Dow Jones | 44,237.90 | 0.3% |
| Russell 2000 | 2,217.57 | -0.4% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.8% to $581.25.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) inched 0.2% higher to $442.13.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rallied 1.1% to $566.13.
- The iShares Russell 2000 ETF (NYSE:IWM) eased 0.2% to $220.32.
- The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) outperformed, up 1.6%; the Health Care Select Sector SPDR Fund (NYSE:XLV) lagged, down 1.2%
Wednesday’s Stock Movers
Stocks moving on earnings reports included:
- Advanced Micro Devices, Inc. (NASDAQ:AMD) down 6.7%
- McDonald’s Corporation (NYSE:MCD) up 2.9%
- The Walt Disney Company (NYSE:DIS) down 3.1%
- Shopify Inc. (NYSE:SHOP) up 19.6%
- Uber Technologies, Inc. (NYSE:UBER) down 1.2%
- Arista Networks, Inc. (NYSE:ANET) up 17.9%
- Amgen Inc. (NASDAQ:AMGN) down 5.2%
- Brookfield Asset Management Ltd. (NYSE:BAM) up 1.2%
- Thomson Reuters Corporation (NYSE:TRI) down 8.5%
- Emerson Electric Co. (NYSE:EMR) down 7.5%
- Cencora, Inc. (NYSE:COR) down 2.1%
- Aflac Incorporated (NYSE:AFL) up 2.9%
- Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) down 7.8%
- Rockwell Automation, Inc. (NYSE:ROK) down 6.5%
- Astera Labs, Inc. (NASDAQ:ALAB) up 28.6%
- NRG Energy, Inc. (NYSE:NRG) down 13.8%
- Devon Energy Corporation (NYSE:DVN) up 1.9%
- Super Micro Computer, Inc. (NASDAQ:SMCI) down 21.0%
- NiSource Inc. (NYSE:NI) down 1.3%
- Trimble Inc. (NASDAQ:TRMB) up 0.5%
- News Corporation (NASDAQ:NWSA) down 0.2%
- Jones Lang LaSalle Incorporated (NYSE:JLL) up 0.1%
- Snap Inc. (NYSE:SNAP) down 17.9%
Stocks slated to report earnings after the close include American International Group Inc. (NYSE:AIG), APA Corporation (NASDAQ:APA), CF Industries Holdings, Inc. (NYSE:CF), McKesson Corporation (NYSE:MCK), MetLife, Inc. (NYSE:MET), Occidental Petroleum Corporation (NYSE:OXY), and Zillow Group, Inc. (NASDAQ:Z).
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