Tuesday’s session in the S&P 500 index futures saw bulls grind out another win, possibly helped by anticipation of an FOMC rate cut announcement next week.

Overnight, quiet action prevailed as bulls held support at the psychological 6500 level. The regular session opened with choppy trading, with neither bulls nor bears gaining an edge until a break below 6500 triggered a quick flush of sell-stops, bottoming at 6489.25. Buy-the-dippers soon swooped in, flipping the decline into a rally that powered through the day. 

Buyers pushed to new daily highs in the final minutes, falling just shy of the all-time peak, closing near the top at 6521.75, up 15.75 handles. After-hours gains pushed the high to 6536.25, spurred by promising earnings. 

Wednesday brings August’s Producer Price Index (PPI) report at 8:30 AM ET. 

Alphabet Inc (NASDAQ: GOOGL) snagged the biggest win among top components, soaring $5.59, or 2.39%, to close at $239.63, hitting new all-time highs on sustained momentum.

That outpaced the cash index’s 0.23% gain by an order of magnitude. 

Broadcom Inc (NASDAQ: AVGO) flipped its role from Monday and slumped as the biggest loser, shedding $8.98, or 2.60%, to close at $336.67 as profit-takers cashed in on its recent run.