U.S. stocks continued their gains into Tuesday, with the Dow Jones and Nasdaq closing for the day at record highs. Optimism towards the negotiations between the U.S. and China coupled with better-than-expected reports from this batch of earnings are the main driving factors behind the recent wave of record highs that the benchmark indexes have been climbing to.

Here's how the market settled Tuesday:

S&P 500 Index (SPY): -0.11% or -3.5 points

Dow Jones Industrial Average (DIA): +0.11% or +30.83 points

Nasdaq Composite Index (QQQ): +0.02% or +1.48 points

In a speech given Tuesday, Chinese President Xi Jinping reaffirmed his goal of opening up the country's economy and increasing imports. "We will ensure a free yet orderly flow of both international and domestic factors of production, improve the efficient allocation of resources, and deepen integration of markets," Xi stated in Shanghai.

In the U.S., the Trump administration announced that they are considering removing some tariffs on Chinese goods to help finalize the initial trade deal. According to the Financial Times, there would involve the tariffs on $112 billion of consumer goods imports that were affected by the 15% rate that took effect September 1.

In U.S. Economic news, the Institute for Supply Management's non-manufacturing index (ISM) increased more-than-expected in October. The index reported at 54.7 form the month, above September's reading of 52.6. Both indicate an expansion over the neutral level of 50.0, albeit a slow expansion.

In Stock Sector news, sectors remain mixed as the market heads into the mid-week. The few that saw gains today include Energy +0.45%, Financials +0.42%, Materials +0.25%, Consumer Staples +0.25%, Industrials +0.20%, and Consumer Discretionary +0.14%. Those that had lost gains include Real Estate -1.76%, Utilities -1.02%, Health Care -0.89%, Information Technology -0.14%, and Communication Services -0.07%.

In Commodity news, oil continues to soar today, with West Texas Intermediate's barrel prices increasing over 1%, to make the price per barrel just over $57. Brent Crude saw similar gains, with the fossil fuel's price increasing over 1.20%, pricing the barrel just under $63. On the other hand, Gold continues its plummet, with the precious metal sinking below -1.60% to cost around $1,484 per ounce.