What Will It Take to Seal a Trade Deal?

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While you were probably sleeping, Mnuchin told CNBC that a U.S.-China trade deal was around "90%" complete.

Mnuchin added, "I think there's a path to complete this" when President's Donald Trump and Xi Jinping meet later this week at the G20 Summit in Japan.

However, investors should approach the comments cautiously since the markets have previously seen bullish comments and then the trade deal fell apart.

"The message we want to hear is that they want to come back to the table and continue because I think there is a good outcome for their economy and the U.S. economy to get balanced trade and to continue to build on this relationship," Mnuchin said.

Action Alerts PLUS senior portfolio analyst Jeff Marks weighed in on Mnuchin's comments. 

"So I mean, heading into this weekend at G20, I think that we see some type of delay, some type of ceasefire in new tariffs, and then we might be all right," he said. 

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