On Friday (August 8), U.S. stocks opened higher and closed stronger, with all three major indices rising, and the Nasdaq Composite reaching a new record high.
At the close, the Dow Jones Industrial Average rose 0.47% to 44,175.61 points; the S&P 500 gained 0.78% to 6,389.45 points; and the Nasdaq Composite climbed 0.98% to 21,450.02 points, setting a new closing record.
Major European indices closed mixed, with Germany’s DAX down 0.12%, France’s CAC 40 up 0.44%, and the UK’s FTSE 100 down 0.06%.
Analysts noted that European stocks were mainly influenced by Trump’s tariff policies, with market concerns over trade tensions. Additionally, the Federal Reserve’s future policy direction and geopolitical risks also unsettled market sentiment.
Apple Rises Over 13% This Week
The strong performance of U.S. stocks this week was primarily driven by consecutive surges in the share price of heavyweight Apple.
On August 6, Apple’s stock rose 5.09%, followed by a 3.18% increase on August 7 and another 4.24% gain on August 8. This week, Apple’s stock has climbed 13.33% cumulatively, marking its largest weekly gain in over five years, with its market cap increasing by over $390 billion (over RMB 2.8 trillion).
According to an August 6 report by the Associated Press in Washington, Apple CEO Tim Cook and U.S. President Donald Trump announced at the White House on Wednesday that the tech giant pledged an additional $100 billion investment in U.S. manufacturing over the next four years.
Trump stated at the press conference, “This is a major step toward the ultimate goal of ensuring iPhones sold in the U.S. are also made in the U.S.” He added, “Today’s announcement is one of the biggest commitments in the greatest investment boom in our nation’s history.”
Apple had previously announced plans to invest $500 billion domestically, and this figure has now risen to $600 billion. Cook said in the investment announcement, “This includes new and expanded collaborations with 10 companies across the U.S. Their components are used in Apple products sold globally, including semiconductor chips. We appreciate the president’s support.”
Investors had been concerned that some of Trump’s tariff policies could severely impact Apple’s profitability. J.P. Morgan analyst Samik Chatterjee wrote on Wednesday, “For months, Apple has faced potential challenges from tariffs, and both Apple and Tim Cook have demonstrated exceptional skill in navigating this uncertainty.” He maintained an “overweight” rating on Apple’s stock.
