U.S. stock market: All three major indices closed higher, with the Nasdaq jumping over 1%, aided by Apple's surge

White House officials say Apple will announce a $100 billion domestic manufacturing plan S&P 500 index constituent companies' earnings reports continue to exceed expectations The Dow Jones Industrial Average rose 0.2%, the S&P 500 index rose 0.7%, and the Nasdaq rose 1.2% Reuters, August 6 - U.S. stocks closed higher on Wednesday, with the Nasdaq leading the way, jumping over 1%. Apple rose after news of its commitment to domestic manufacturing, and some companies released optimistic earnings reports. Apple (AAPL.O) rose 5.1%, providing the biggest boost to the three major indices, after White House officials indicated that the company would announce a $100 billion domestic manufacturing plan. McDonald's (MCD.N) rose 3% after reporting global sales that exceeded expectations. Cloud networking company Arista Networks (ANET.N) forecasted quarterly revenue above expectations, with its stock soaring 17.5%. CFRA Research Chief Investment Strategist Sam Stovall stated, "Corporate earnings continue to exceed expectations." He noted that despite uncertainties regarding tariffs, investors seem to hold an optimistic outlook for the short term. Currently, about 400 of the S&P 500 index constituent companies have reported their second-quarter earnings. Approximately 80% of companies' earnings have surpassed analysts' expectations, with the average percentage of surprises over the past four quarters being 76%. According to data from the London Stock Exchange Group (LSEG), analysts expect quarterly earnings to grow by 12.1%, up from the 5.8% growth anticipated at the beginning of July. On Wednesday, President Trump announced an additional 25% tariff on Indian goods, citing that New Delhi continues to import Russian oil. The Dow Jones Industrial Average (.DJI) rose 81.38 points, or 0.18%, to 44,193.12 points. The S&P 500 index rose 45.87 points, an increase of 0.73%, to 6,345.06 points. The Nasdaq index (.IXIC) rose 252.87 points, to 21,169.42 points, an increase of 1.21%. Expectations for a rate cut by the Federal Reserve in September have also been favorable for the stock market. Last week's U.S. employment report showed a slowdown in job growth, and data from previous months was revised down. Minneapolis Fed President Neel Kashkari stated on Wednesday that the Fed may need to cut rates soon to address the economic slowdown. According to the Chicago Mercantile Exchange (CME) FedWatch tool, the market sees a 95.2% chance that the Fed will cut rates by at least 25 basis points in September, up from 92.9% the previous trading day and 46.7% a week ago. Investors are also awaiting Trump's nominee for the Federal Reserve Board. In contrast to the overall market trend, chip company AMD (AMD.O) and server manufacturer Super Micro Computer fell 6.4% and 18.3%, respectively, as both companies reported disappointing data center business performance Disney (DIS.N) reported strong quarterly performance and raised its full-year forecast, but its stock price fell by 2.7%. The NYSE had a gain-to-loss ratio of 1.12:1, with 166 stocks hitting new highs and 76 stocks hitting new lows. On the Nasdaq, 2,195 stocks rose, 2,377 stocks fell, with a gain-to-loss ratio of 1.08:1. The total trading volume across U.S. exchanges was 1.685 billion shares, with an average daily trading volume of 1.827 billion shares over the past 20 complete trading days. (End) For related news or pages, please click on the following code links: U.S. Stock Market (.NCN) Weekly Outlook (.N/OCN) European Stock Market Report (.EUCN) Japanese Stock Market Report (.TCN) Hong Kong and China Stock Market Report (.HKCN) Chinese Stock Market Report (.SSCN) Taiwan Stock Market Report (.TWCN) Stock Market Briefing (CN-CMN-HOT) Most Active Stocks on Nasdaq (.AV.O) Most Active Stocks on NYSE (.AV.N) Top Gainers on Nasdaq (.PG.O) Top Gainers on NYSE (.PG.N) Top Losers on Nasdaq (.PL.O) Top Losers on NYSE (.PL.N) S&P Major Sector Indices (0#.GSPMAJOR) UK FTSE Index (.FTSE) German DAX Index (.GDAXI) French CAC-40 Index (.FCHI) The South Korean stock market has been incorporated into the South Korean financial market report; for related articles, please click (KRW/CN)