Tuesday’s session in the S&P 500 index futures notched new all-time highs but retreated slightly, as profit-taking tempered bullish momentum ahead of Wednesday’s FOMC rate announcement. 

Overnight, bulls charged to a new all-time high of 6696.75 in the early hours, only for profit-takers and other sellers to seize control. The regular session opened green but quickly tipped red as traders locked in gains and hedged before the FOMC announcement. Bulls found support near the daily pivot, sparking choppy action by lunch, bottoming at 6661.25. 

A wavering rally fell short of green territory in the afternoon, with bears testing resolve late, driving a small sell-off in the final minutes. The session closed near the day’s low at 6667.50, down 11.75 handles. 

Wednesday brings the FOMC interest-rate decision at 2:00 PM ET and Fed Chair Powell’s press conference at 2:30 PM. 

Tesla Inc (NASDAQ: TSLA) snagged the biggest win among top components, climbing $11.58, or 2.82%, to close at $421.62.

That outpaced the cash index’s 0.14% dip by a tidy two percent. 

NVIDIA Corp (NASDAQ: NVDA) slumped as the biggest loser, shedding $2.87, or 1.61%, to close at $174.88.