Despite mixed reports towards the future of the U.S. and China trade war, all three major U.S. market indexes posted new record highs to start the week.

Here's how the stock market closed Monday:

S&P 500 Index (SPY): +0.05% or +1.55 points

Dow Jones Industrial Average (DIA): +0.11% or +31.26 points

Nasdaq Composite Index (QQQ): +0.11% or +9.11 points

On Monday, the Trump administration issued a 90-day extension to allow U.S. companies to continue business with the Chinese telecom Huawei. The U.S. commerce Department has allowed the Chinese company to purchase some American-made goods after the telecom was added to an economic blacklist back in May over national security concerns. Huawei stated that the extension "won't have a substantial impact on Huawei's business either way. This decision does not change the fact that Huawei continues to be treated unfairly either."

Separately, CNBC reports on Monday that a government source from Beijing is pessimistic towards the U.S. and China trade war. The source stated that Chinese officials were troubled by President Donald Trump's comment last week that there was no agreement on phasing out tariffs. Chinese Commerce Ministry spokesperson Gao Feng earlier this month even said that the two feuding sides had reached an agreement to roll back the tariffs. The source also told CNBC that the Chinese are carefully looking at the current political situation in the U.S., which including the impeachment hearing and nearing presidential election. It seems that China will be moving forward based on future political outcomes in the U.S.

Over the weekend, a Chinese state-run news agency Xinhua reported that U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer spoke with Chinese Vice Premier Liu He to discuss the details of a phase one trade agreement. The report stated that the two sides had "constructive discussion on each other's core concerns in the 'phase one' deal and agreed to maintain close communication."

In U.S. Stock Sector News, despite record highs for all major stock indexes, sectors had mixed earnings today. Those that saw gains in normal trade today include Consumer Staples +0.54%, Real Estate +0.50%, Consumer Discretionary +0.34%, Communication Services +0.28%, Information Technology +0.25%, Utilities +0.17%, Financials +0.15%. Those that saw losses today include Energy -1.33%, Health Care -0.38%, Industrials -0.33%, and Materials -0.22%.

Finally, in Commodity and Currency News, oil prices have begun to slightly rise with West Texas Intermediate gaining 0.05% and Brent Crude climbing 0.03%. The Henry Hub Natural Gas prices have also increased by +0.75%. On the other hand, Gold is on the decline again, with prices dropping -0.07% to cost the metal $1,470.40 per ounce. The U.S. Dollar is also slipping at the start of the week, with the DXY Index reading a decline of -0.02%.