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 …