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

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 White House has said its agreements with the U.K. and China are starting points, but so far the Trump administration has given up more than it has gained.