(Updates to afternoon trading)

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Apple ( AAPL ) to announce $100-billion pledge, says White House

official

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Indexes up: Dow 0.3%, S&P 500 0.8%, Nasdaq 1.2%

By Caroline Valetkevitch

NEW YORK Aug 6 (Reuters) - U.S. stocks rose on

Wednesday, led by a more than 1% gain in the Nasdaq, as Apple ( AAPL )

shares climbed after news of its plans to announce a domestic

manufacturing pledge, and as the latest batch of corporate

reports was upbeat.

Shares of Apple ( AAPL ) were up 5.8% 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 were up 3.6% after the

fast-food restaurant's affordable menu drove global sales past

expectations, while Arista Networks ( ANET ) shares jumped 18%

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.

On Wednesday, U.S. President Donald Trump imposed an additional

25% tariff on Indian goods, citing New Delhi's continued imports

of Russian oil.

The Dow Jones Industrial Average rose 140.32 points,

or 0.32%, to 44,252.06, the S&P 500 gained 49.86 points,

or 0.79%, to 6,349.05 and the Nasdaq Composite added

254.12 points, or 1.22%, to 21,170.67.

Also positive for stocks were increasing bets for a

September rate cut. Last week's jobs report showed slowing

employment growth and downward revisions for previous months.

Odds for next month's rate cut stand at 93.2%, compared with

just 46.7% last week, according to CME Group's FedWatch tool.

Traders also bet on at least two cuts by the end of 2025.

Among the day's decliners, shares of Advanced Micro Devices ( AMD )

fell 5.4% as its data center chip revenue disappointed.

Walt Disney ( DIS ) delivered a strong quarter and lifted its

full-year outlook, but its shares slipped 2%.

Advancing issues outnumbered decliners by a 1.1-to-1 ratio

on the New York Stock Exchange. There were 145 new highs and 65

new lows on the NYSE.

On the Nasdaq, 2,057 stocks rose and 2,410 fell as declining

issues outnumbered advancers by a 1.17-to-1 ratio.

(Additional reporting by Nikhil Sharma and Pranav Kashyap in

Bengaluru; Editing by Maju Samuel and Rod Nickel)