S&P 500 Gains and Losses Today: Broadcom Soars on Reports of Apple AI Chip Tie-Up [Video]

Major U.S. equities indexes were mixed Wednesday following the release of the latest Consumer Price Index (CPI) report.

Although annualized price increases in November ticked higher from October levels, the inflation data largely aligned with forecasts, reinforcing expectations that the Federal Reserve will cut interest rates at next week’s policy meeting.

The S&P 500 added 0.8% in the mid-week trading session, while strength in the tech sector helped drive the Nasdaq up 1.8% to close above the 20,000-point threshold for the first time ever. The Dow ended the day 0.2% lower.

Shares of semiconductor and software provider Broadcom (AVGO) surged 6.6%, in the strongest performance of any S&P 500 stock on Wednesday. The gains followed reports of a collaboration with tech giant Apple (AAPL) to develop an artificial intelligence (AI) chip code-named Baltra.

Tesla (TSLA) stock jumped 5.9% to close at a record highfor the first time in three years after reports that …