NEW YORK (AP) — A rally for Apple led Wall Street higher on Wednesday as U.S. stocks reclaimed more of their sharp losses from last week.
The S&P 500 rose 0.7%. The Dow Jones Industrial Average added 81 points, or 0.2%, and the Nasdaq composite climbed 1.2%.
Apple alone accounted for more than a third of the S&P 500’s gain. It rose 5.1% ahead of a White House event where it was expected to announced an increase to its U.S. investments of an additional $100 billion over the next four years.
Trading elsewhere on Wall Street was mixed following a jumble of profit reports. McDonald’s and Shopify rose following their latest updates, while Super Micro Computer tumbled after its earnings and revenue came in below analysts’ expectations. The Walt Disney Co. fell after its earnings beat forecasts but its revenue fell short
Worries are still high that President Donald Trump’s tariffs may be hurting the economy, but hopes for coming cuts to interest rates by the Federal Reserve and a parade of stronger-than-expected profit reports from U.S. companies have helped steady the market.