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GM approves $6 billion share buyback plan

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Apple ( AAPL ) soars to record

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S&P 500 tech sector also posts record high

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Indexes: Dow down 0.3%, S&P 500 up 0.3%, Nasdaq up 0.9%

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(Adds market details after the close)

By Caroline Valetkevitch

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

registered record closing highs for a second straight day on

Tuesday, helped by a gain of more than 7% in Apple ( AAPL )

shares, while investors also awaited consumer prices data and a

policy announcement from the Federal Reserve.

Apple ( AAPL ) shares jumped 7.3% to a record-high close and gave the

S&P 500 and Nasdaq their biggest boosts after the stock declined

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 climbed 1.7% and also

posted a record closing high.

The Consumer Price Index report will be released before the

bell on Wednesday, and the U.S. central bank's policy

announcement is due later the same day.

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 120.62 points,

or 0.31%, to 38,747.42, the S&P 500 gained 14.53 points,

or 0.27%, to 5,375.32 and the Nasdaq Composite added

151.02 points, or 0.88%, to 17,343.55.

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 1.35% after the automaker

announced a $6 billion share buyback plan. GM also cut its

annual EV production forecast.

After the closing bell, Oracle shares rose 8%

following the release of quarterly results. The stock ended the

regular session down 0.5%.

Declining issues outnumbered advancing ones on the NYSE by a

1.52-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored decliners.

The S&P 500 posted 19 new 52-week highs and 4 new lows; the

Nasdaq Composite recorded 45 new highs and 127 new lows.

Volume on U.S. exchanges was 10.65 billion shares, compared

with the 12.83 billion average for the full session over the

last 20 trading days.