The temporary lifting of triple-digit trade levies between China and the U.S. while trade talks get under way removes the threat of an immediate stagflationary hit to the economy. This is very good news.

The US and China's trade deal sent the market skyrocketing, but the brightest minds on Wall Street aren't all as optimistic.

The United States and China have reached a trade agreement amid the second day of high-level negotiations, senior officials said Sunday.