Nasdaq, S&P 500 rise with Apple; investors await inflation report, Fed decision
Nasdaq ended higher on Tuesday, helped by sharp gains in shares of Apple, while investors also awaited consumer prices data and a policy announcement from the Federal Reserve.
Apple 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 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.
