U.S. stocks closed higher on Tuesday as investors focused on the upcoming earnings season.

The Dow Jones Industrial Average added 69.61 points, or 0.31 percent, to 22,830.68, notching record close. The S&P 500 was up 5.91 points, or 0.23 percent, to 2,550.64. The Nasdaq Composite Index increased 7.52 points, or 0.11 percent, to 6,587.25.

Third quarter earnings are expected to increase 4.9 percent on a year-over-year basis, according to data from Thomson Reuters. Third quarter revenues are expected to increase 4.3 percent from the same period last year.

Some of the major companies in finance sector scheduled to report quarterly results this week include BlackRock, Citigroup, Bank of America and Wells Fargo.

In corporate news, retail giant Wal-Mart announced a 20-billion-U.S. dollar buyback. The company also said it expects to add 1,000 online grocery pickup locations at its U.S. stores in fiscal year 2019.

In addition, the Dow component expected a global unit growth of approximately 280, including new, expanded and relocated units, for each fiscal year 2018 and 2019.

Shares of Wal-Mart jumped 4.47 percent to trade at 84.13 dollars a piece.

Another Dow component Pfizer said Tuesday that it was thinking about selling or spinning off its consumer health-care business, which generates 3.4 billion U.S. dollars in annual sales.