S&P 500 closes higher Wednesday as Apple lifts market

Stocks rose Wednesday, thanks to a jump in Apple, as investors analyzed the latest batch of corporate earnings.

The S&P 500 gained 0.73% to close at 6,345.06, while the Nasdaq Composite advanced 1.21% and settled at 21,169.42. The Dow Jones Industrial Average rose 81.38 points, or 0.18%, ending at 44,193.12.

Apple climbed 5% after a White House official confirmed to CNBC that the iPhone maker is going to boost its investment in domestic manufacturing by $100 billion. That brings its total U.S. investment to $600 billion over the next four years.

Those moves follow a losing day for the market, marking the S&P 500′s fifth down day of the last six and the Dow’s sixth negative session of the past seven.

“By and large, this is just kind of a digestion that is still continuing from the relatively elevated [volatility] that occurred at the end of last week, as the payroll report was disappointing and the [Federal Reserve] did not cut,” said Michael Green, portfolio manager and chief strategist at Simplify Asset Management. “We’re just in a kind of a holding pattern right now.”