CNBC Daily Open: If U.S.-China talks go well, analysts think the S&P 500 could hit new high

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Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today

Trade negotiators from the U.S. and China have met in London, and talks are expected to continue Tuesday, a source familiar with the situation told CNBC’s Megan Casella.

At the top of the agenda for America appears to be a relaxation of China’s rare earths export curbs, according to a CNBC interview with U.S. National Economic Council Director Kevin Hassett. If China’s actions late last week — when it seemingly gave Western automakers concessions regarding those minerals — are any indication, Beijing could be willing to accede to the U.S. request.

But the world’s second-biggest economy would demand reciprocity. On June 2, Beijing bristled at Washington’s tighter grip on exports of chip design software to China. But it appears that Washington is also in a conciliatory mood. “Our expectation is that … immediately after the handshake, any export controls from the U.S. will be eased,” Hassett said on CNBC’s “Squawk Box.”