The Federal Reserve will have a two-day meeting starting Tuesday sending stock futures higher.

The Fed is expected to hike interest rates.

The Dow ended Monday with its 15th record closing high since Election Day and sixth record close in a row.

The S&P 500 and Nasdaq fell on Monday after six sessions of gains.

Dow futures climbed 0.25 percent, S&P 500 futures climbed 0.33 percent, and Nasdaq future climbed 0.33 percent.

The Dow is about 1 percent away from hitting the 20,000 mark for the first time ever.

The blue index ship has been on a roll since the Trump-win and forecasts that say Trump picks candidates for cabinet positions that many presumed would be friendly to Wall Street.

For example, Steve Mnuchin, a former Goldman Sachs executive, has been nominated as Treasury secretary and ExxonMobil (XOM) CEO Rex Tillerson as secretary of state.

The chance of a rate hike by the Fed is currently at 93 percent, according to CME Group fed funds futures.

Most are expecting an increase of 25 basis points with a few economists even suggesting the chance of an increase of 50 basis points.

Oil prices gained Tuesday on firm demand in Asia and a supply cut by Abu Dhabi as part of production cut deal organized by OPEC and other exporters.

Oil prices hit an 18-month high on Monday after non-OPEC producers agreed to be part of the cut deal by 558,000 barrels cut.

 

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