Since early May, statements by U.S. and Chinese leaders seem to undercut their assurances of progress toward a trade deal from earlier this year. Wells Fargo Investment Institute believes investors can expect several market sectors to be affected, including consumer discretionary, industrials and information technology. For more on how a U.S.-China trade deal should factor into your investment planning, click here.

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC. Wells Fargo Investment Institute, Inc. is a registered investment adviser and wholly-owned subsidiary of Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company.