President Donald Trump’s vows to roll out punishing new tariffs on Aug. 1 have barely made a ripple with investors who are convinced he’ll once again back down. But at the White House, officials insist they’re serious this time.

U.S. stocks advanced and the dollar firmed on Friday as investors girded themselves for the week ahead, which includes a Federal Reserve policy meeting, crucial corporate results and U.S. President Donald Trump's August 1 deadline for negotiating trade deals.

While some Wall Street companies are clearly rallying thanks to President Donald Trump’s policies, the same can’t be said for Main Street, according to a chart from BofA Global Research strategists, led by Michael Hartnett.