US stocks end higher with Nasdaq up more than 1%, led by Apple

US stocks ended higher on Wednesday, led by a more than 1% gain in the Nasdaq, as Apple shares climbed after news of its plans to announce a domestic manufacturing pledge, and as some companies delivered upbeat earnings reports.

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Shares of Apple jumped 5.1% and provided the biggest boost to all three of the major indexes after a White House official said the company would announce a $100-billion domestic manufacturing pledge.

In addition, shares of McDonald’s rose 3% after the fastfood restaurant’s affordable menu drove global sales past expectations, while Arista Networks shares jumped 17.5% after the cloud networking company projected current-quarter revenue above estimates.

“Earnings continue to come in better than expected,” said Sam Stovall, chief investment strategist at CFRA Research.

He said while there is uncertainty surrounding tariffs, investors appear to be upbeat about the near term.