Stocks Close With Strong Weekly Gains

Wall Street applauded a better-than-expected June jobs report, sending the Dow Industrials Index nearly 100 points higher Friday. Mark Hamrick, Senior Economic Analyst at Bankrate.com, told Cheddar why he thinks a trade war would threaten strong U.S. job growth.

The trade war continued to escalate overnight when the White House announced the possibility of rolling out additional tariffs on $200 billion worth of Chinese imports including agricultural goods, apparel, and appliances. Leaders from both countries have yet to announce plans for any negotiation. Cheddar’s Kristen Scholer and Tim Stenovec tell us the details.

U.S. tariffs on $34 billion worth of Chinese goods kicked in early Friday, prompting China to respond in kind and escalating tensions between the two countries into what Beijing describes as "the biggest trade war in economic history."