CNBC Daily Open: U.S.-China meeting in focus while Trump wants to rename the Strait of Hormuz

* Trump-Xi summit and U.S.-China trade relations in focus. * Chevron expands Venezuela operations with $7B investment. * Uber cuts 10% workforce; global inflation and rates concerns persist. The upcoming Trump-Xi White House meeting may clarify U.S.-China trade and Iran policy, though expectations are low. Trump also seeks to rename the Strait of Hormuz. Chevron plans to double Venezuela oil output via $7 billion investment. Uber will cut 10% of staff. Markets rose in the U.S. but fell in Asia amid Iran tensions and inflation worries. G20 talks highlighted AI's importance.