04:06 PM EDT, 10/28/2025 (MT Newswires) -- US equity indexes closed higher on Tuesday, hitting record highs during the day ahead of the Fed's expected decision on cutting interest rates and some major corporate announcements.

* The chances of an interest rate cut in the upcoming Fed meeting stand at nearly 99.9%, according to the CME FedWatch tool. The FOMC's statement following Wednesday's meeting is due to be released at 2:00 pm ET, with Federal Reserve Chairman Powell's press conference scheduled to begin at 2:30 pm ET.

* The market's gains were led by Nvidia ( NVDA ) , which made a series of partnership announcements Tuesday at its GTC conference, which were followed by stock gains of over 5% for the company. Six of the Magnificent-7 stocks rose, with Tesla (TSLA) and Microsoft ( MSFT ) leading the pack of companies with a market capitalization of over $200 billion. Apple ( AAPL ) and Microsoft ( MSFT ) also topped the $4 trillion market capitalization level for the first time ahead of their results.

* December West Texas Intermediate crude oil fell $1.39 to settle at $59.92 per barrel, while December Brent crude, the global benchmark, was last seen down $1.43 to $64.19 after media reports that eight OPEC+ members are contemplating another output increase amid concerns surrounding inefficient enforcement of the ban on Russian oil exports.

* Regeneron Pharmaceuticals ( REGN ) shares rose nearly 11% after the company reported Q3 adjusted earnings and revenue that beat Wall Street expectations.

* Alexandria Real Estate Equities ( ARE ) shares were down nearly 18% after the company reported a drop in Q3 adjusted funds from operations and revenue from last year, and lowered the midpoint of its 2025 FFO outlook.