Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Bryn Mawr Trust CIO Jeffrey Mills lists where to put money to work as Wall Street copes with trade war and recession jitters.Futures Nowread more
The announcement for Target also comes on the heels of a strong quarterly earnings report, where it showed it drove more people to stores and got them to spend more money...Retailread more
"Prior to tomorrow’s opening, when you get these companies that should perform pretty well, you should see the market overtake that 2,800 level," Grasso, director of institutional sales at Stuart Frankel, said Thursday on "Closing Bell. "
On Thursday, the index gained 0.9 percent, closing at 2,798.29.
Some analysts have predicted the index could reach as high as 3,000 by 2019. But S&P has hovered around 2,600 to 2,700 for most of the year and has yet to regain its January highs past 2,800.
Several large banks will report quarterly earnings before the start of Friday's trading day, including Citigroup, J.P. Morgan Chase, Wells Fargo, First Republic Bank and PNC Financial Services Group. Grasso, who is also a CNBC contributor, estimates these banks make up about 25 percent of the XLF, the ETF of the financial sector, and said positive earnings will only push the market higher.
Meanwhile, investors have been on edge as trade war tensions continue to loom. In March, President Donald Trump first proposed tariffs to fix what he deemed unfair trading practices. Earlier in July, $34 billion worth of tariffs on Chinese goods kicked in. On Tuesday, Trump announced another round of tariffs, this time .
But, Peter Boockvar, chief investment officer at the Bleakley Advisory Group, said the market more often reacts to hard data than temporary uncertainty.
"The stock market is not going to react until the problem is right in front of their face," said Boockvar, who is also a CNBC contributor.
"Until the stock market sees it actually in corporate earnings and sees it in the hard economic data, I don't necessarily think they're going to react," he said.