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Wall Street awaits Trump-Xi detente – here's what three experts expect

Wall Street awaits G-20 meeting between Trump and Xi — Here's what three experts say to watch
Wall Street awaits G-20 meeting between Trump and Xi — Here's what three experts say to watch

All of Wall Street is focused on the expected meeting between President Donald Trump and Chinese President Xi Jinping at the G-20 meeting over the next several days. Hopes are high that talks could lead to a thawing of trade tensions between the U.S. and China.

Here's what three experts expect.

Paul Christopher, head of global market strategy at Wells Fargo, says stocks could come under pressure after their best month since January.

"The market goes back into that mode where we give back at least a lot of June's gains and then come closer to where we were perhaps at the end of May because what we need, what the market really wants here, is for them to start talking again."

Kim Forrest, CIO at Bokeh Capital Partners, breaks down the problems surrounding Chinese telecom Huawei.

"What a hot potato Huawei is, and how much China is seeing that as their way to get out in the world with a real product set and make a difference. And I love all the earlier discussion on trying to put regulations around them by bringing them into the fold, but I think it's even better than that. Let's let them find out what the market is for their products, hair and all on it. … What's an investor to do? Three to five years out there, I like technology. It's a global supply chain right now. It can't be shut down just because of the physical aspects of the supply chain, and you just roll with it."

James Gorman, chairman and CEO at Morgan Stanley, warns of the impact a full-blown trade war could have on the global economy.

"The U.S. and China account for over 40% of global GDP. Nominal GDP is about $70 trillion — U.S. and China combined are $30 trillion. We can't have a trade war. It will have a devastating effect to the global economy. That doesn't mean there can't be changes to the way that trade agreements are being written, and I think that's what the negotiators are figuring out."