12:40 PM EDT, 08/06/2025 (MT Newswires) -- US equity indexes rose amid an onslaught of quarterly earnings reports and as investors awaited potential secondary tariffs on Russia if it fails to reach a peace on the Ukraine war.

The Nasdaq Composite rose 0.8% to 21,094.1, with the S&P 500 up 0.6% to 6,339.2 and the Dow Jones Industrial Average 0.2% higher at 44,209.3. All sectors except healthcare, materials, and utilities advanced intraday. Consumer discretionary, consumer staples, and technology led the gainers.

In company news, Arista Networks ( ANET ) reported an expected Q2 EPS and revenue beat, as its artificial intelligence-related revenue is starting to be recognized, both from cloud and enterprise sources, Morgan Stanley said in a note on Wednesday. Shares of Arista soared 17% intraday, the top performer on the S&P 500.

Shopify ( SHOP ) reported strong Q2 results, with gross merchandise volume and revenue 8% and 5% above consensus, Wedbush Securities said in a note. Shares of the company surged 19% intraday, the biggest gainer on the Nasdaq.

President Donald Trump will announce on Wednesday that Apple ( AAPL ) has committed to spending an additional $100 billion on US manufacturing, Bloomberg reported, citing a White House spokesperson. Shares of the company advanced 5.8% intraday, the leader on the Dow Jones Industrial Average.

Traders also await news on Trump's threats to impose "secondary tariffs" on Russian international commerce, most notably on India, which is the largest importer of Moscow's crude oil.

"Market chatter is growing that China's purchases of Russian oil may come into focus next," ING commodity strategists said in a Reuters news report Wednesday.

West Texas Intermediate crude oil futures jumped 1.2% to $65.94 a barrel.

US Treasury yields traded mixed, with the 10-year yield up 4.3 basis points to 4.24%. The yield on some government bond securities with a maturity of less than one year declined.