03:58 PM EST, 12/11/2024 (MT Newswires) -- US benchmark equity indexes ended mixed Wednesday after official data showed consumer inflation accelerated in line with Wall Street's projections last month.

* The US consumer price index increased 0.3% in November, ticking up from 0.2% in each of the previous four months, the Bureau of Labor Statistics reported. Annually, inflation accelerated to 2.7% from October's 2.6% pace. Both measures were in line with forecasts in a Bloomberg-compiled survey.

"The November CPI report provided further evidence that inflation progress is becoming much more incremental, suggesting the (Federal Reserve's) fight of returning (to) 2% inflation is far from over," TD Economics said in a note.

* The odds of a 25-basis-point reduction in interest rates next week climbed to nearly 95% Wednesday from 89% Tuesday, according to the CME FedWatch tool.

* January West Texas Intermediate crude oil closed up $1.70 to settle at $70.29 per barrel, while February Brent crude, the global benchmark, was last seen up $1.25 to $73.44 as China's decision on Monday to loosen monetary policy continues to support the commodity, while OPEC lowered its demand forecast for this year and next and a report showed a drop in U.S. inventories.

* Apple ( AAPL ) is working with Broadcom ( AVGO ) as it develops its first server chip specially designed for artificial intelligence, The Information reported, citing unnamed sources. Broadcom ( AVGO ) shares were up 6.2%, while Apple ( AAPL ) fell 0.4%.

* Tobacco stocks were trending downwards after the New York Times reported Wednesday the US Food and Drug Administration was proposing a drastic reduction in the amount of nicotine in cigarettes. Philip Morris International ( PM ) was down nearly 2% while Altria Group ( MO ) fell 1.5%.