US stocks pushed higher on Wednesday amid another batch of corporate earnings and as President Trump's new deadline to impose tariffs loomed.
The Dow Jones Industrial Average (^DJI) rose nearly 0.2%, while the benchmark S&P 500 (^GSPC) climbed more than 0.7%. The tech-heavy Nasdaq (^IXIC) jumped about 1.2%, led by a more than 5% surge in Apple (AAPL) shares.
Apple stock rose Wednesday on news that CEO Tim Cook will join President Trump at the White House to announce a new $100 billion investment in domestic manufacturing. The tech giant previously announced $500 billion investment in the US over the next four years as it looks to avoid steep tariffs on its products.
Meanwhile, the White House said that Apple is set to dodge the bulk of US tariffs on imports from India, where most of its iPhones are made. Trump hit India with an additional 25% tariff because of the country's purchase of Russian oil, bringing the total on its duties to 50% from later this month.
Meanwhile, earnings season continued apace on Wednesday, with Disney's (DIS) third quarter results taking the spotlight. Disney beat Wall Street estimates on strong parks and streaming showings, but shares fell amid a steep decline in its linear television business. Separately, it announced a deal to buy media assets from the NFL, further entangling itself with the league.
Also, AMD (AMD) stock tumbled after its mixed showing on Tuesday. Server maker Super Micro Computer (SMCI) and Snapchat parent company Snap (SNAP) also saw their shares plunge after disappointing quarterly results.
McDonald's (MCD) stock rose after the company reversed its US sales slump. And Uber (UBER) announced a revenue beat along with a $20 billion stock buyback.
Airbnb (ABNB), DoorDash (DASH), and Lyft (LYFT) are among the names to report after the market closes.
Meanwhile, US trade partners are scrambling to strike trade deals before Trump's new tariff deadline arrives Thursday. The Swiss president flew to Washington to attempt to avert a massive 39% tariff on her country's goods.