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GM approves $6 billion share buyback plan

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Investors await CPI data on Wednesday

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Indexes: Dow down 0.3%, S&P 500 up 0.2%, Nasdaq up 0.7%

(Updates to 2:40 p.m. EDT)

By Caroline Valetkevitch

NEW YORK, June 11 (Reuters) - The S&P 500 and Nasdaq

were higher in afternoon trading on Tuesday, helped by gains in

shares of Apple ( AAPL ), while investors also awaited consumer

prices data and a policy announcement from the Federal Reserve.

Apple ( AAPL ) shares were up 6.4% and hit a record high after

declining in the previous session.

At its annual developer event that kicked off on Monday,

Apple ( AAPL ) unveiled new artificial-intelligence features meant to

increase the appeal of its devices, including an improved Siri

virtual assistant that can answer a wider range of queries and

accomplish more complicated tasks than earlier.

The S&P 500 technology index was up 1.3% and hit

an all-time high.

The Consumer Price Index report will be released on

Wednesday, and the U.S. central bank's policy announcement also

is due on Wednesday.

The central bank is likely to leave interest rates unchanged

but will release its updated economic projections and "dot

plot," which shows where policymakers expect interest rates to

stand this year and longer-term.

"Everybody is feeling uneasy, but the data and actions

consumers are taking continue to point toward resiliency, and

that tends to be overall fairly bullish," said Oliver Pursche,

senior vice president and adviser for Wealthspire Advisors in

Westport, Connecticut.

The Dow Jones Industrial Average fell 125.67 points,

or 0.32%, to 38,742.37, the S&P 500 gained 8.68 points,

or 0.16%, to 5,369.47 and the Nasdaq Composite added

119.16 points, or 0.69%, to 17,311.69.

Friday's U.S. monthly jobs report was stronger than

expected. Markets have dialed back expectations for the Fed's

first rate cut happening in September, now pricing in about a

50% chance, according to the CME's FedWatch tool.

General Motors ( GM ) gained 1.7% after the automaker

announced a $6 billion share buyback plan.

Declining issues outnumbered advancing ones on the NYSE by a

1.66-to-1 ratio; on Nasdaq, a 1.26-to-1 ratio favored decliners.

The S&P 500 posted 18 new 52-week highs and 4 new lows; the

Nasdaq Composite recorded 36 new highs and 116 new lows.