Tech and Earnings Drive Market Gains as Apple Surges
US equities advanced on Wednesday, with the S&P 500 and Nasdaq leading gains as Apple shares jumped over 5%. The rally followed news of CEO Tim Cook's White House appearance to announce a $100 billion domestic manufacturing investment, building on Apple's earlier $500 billion commitment to avoid tariffs.
Disney outperformed earnings estimates, buoyed by strong theme park and streaming results, while announcing a deal to acquire NFL media assets. AMD's mixed earnings dragged on chip stocks, contrasting with McDonald's rebound from its sales slump and Uber's revenue beat paired with a $20 billion buyback.