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GM approves $6 billion share buyback plan

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S&P 500 tech sector climbs

(Updates to 4 p.m. ET)

By Caroline Valetkevitch

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

ended higher on Tuesday, helped by sharp gains in shares of

Apple ( AAPL ), while investors also awaited consumer prices

data and a policy announcement from the Federal Reserve.

Apple ( AAPL ) shares jumped to a record 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 was up sharply.

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.

According to preliminary data, the S&P 500

gained 15.02 points, or 0.28%, to end at 5,375.81 points,

while the Nasdaq Composite gained 151.32 points, or

0.88%, to 17,343.84. The Dow Jones Industrial Average

fell 117.47 points, or 0.30%, to 38,750.57.

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 after the automaker announced a

$6 billion share buyback plan.