LIVE MARKETS-Wall Street wows with its own triple play

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WALL STREET WOWS WITH ITS OWN TRIPLE PLAY

With the MLB World Series underway, Wall Street's main indexes got in the game on Tuesday and recorded their own triple play of sorts. For a third-straight day, all three main indexes scored record closing highs, underpinned by gains in Big Tech.

The S&P 500 index .SPX notched its 36th record close of 2025, while the Nasdaq Composite .IXIC finished at its 35th record close of the year. The Dow .DJI managed its 15th record close.

Outperformers included both the Magnificent Seven ETF MAGS.K and the FANG index .NYFANG.

S&P 500 Tech .SPLRCT and the chip index .SOX also closed at fresh records.

With this, Growth .IGX outperformed Value .IVX, and the growth/value ratio ended at a record high.

Microsoft MSFT.O, Alphabet GOOGL.O, Apple AAPL.O, Amazon.com AMZN.O and Meta Platforms META.O are scheduled to report results later in the week with investors scrutinizing any AI-related updates to justify high valuations and hefty investments.

Meanwhile, the U.S. 10-year Treasury yield US10YT=RR, which is now just below 3.98%, is on pace for its lowest weekly close since late September 2024.

The FOMC's latest policy statement is due at 2 p.m. ET Wednesday, which will be followed by Fed Chair Powell's press conference at 2:30 p.m. According to the CME's FedWatch Tool, a 25-basis point rate cut (at 99.9%) is all but baked in. December is showing a 91% chance for an additional rate cut this year.

Here is a snapshot of where markets stood just shortly after 4 p.m. ET:

(Terence Gabriel)

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