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Why Investors Should 'Be Aware' of U.S.-China Tension

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Whew. It's going to be a long week. 

First, let's recount the ongoing tension between the U.S. and China.

Last week, stocks in the U.S. declined after the Trump administration ordered China to close its consulate in Houston, and Beijing then ordered the U.S. vacate its consulate in the southwestern city of Chengdu.

Let's recount the ongoing tension between the U.S. and China.

U.S. Secretary of State Mike Pompeo, in a speech late Thursday, called China's Communist Party a "Frankenstein" created by the detente policies of former President Richard Nixon. Pompeo attacked Beijing's record on trade, security and human rights.

China said the speech was "filled with ideological bias" and announced the closure of the U.S. consulate in the southwestern city of Chengdu, in response to Washington's shuttering of the Chinese consulate in Houston.

And then we have earnings. This is quite a busy earnings week.

Companies reporting later this week include Apple,, Google parent Alphabet. McDonald's, Pfizer, 3M, Starbucks, Visa, Advanced Micro Devices, Boeing, General Electric, General Motors, Facebook, PayPal, Qualcomm, Comcast, United Parcel Service, Procter & Gamble, Ford, Gilead Sciences, Exxon Mobil, Chevron, Caterpillar and Merck.

So, what should you be watching? Kenny Polcari, chief market strategist at SlateStone Wealth, joined TheStreet to talk about what he's watching.

You can follow Katherine Ross on Twitter at @byKatherineRoss.

Read more from Katherine Ross here.

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