RENEWABLES: German Wind Output Forecast Comparison

NEC Director Kevin Hassett, told reporters a short time ago that, “There's still hope for progress" on a trade deal with Canada ahead of the Aug. 1 deadline. Hassett added: "If the progress isn't what the president wants, then the deadline will kick in in August," noting President Donald Trump’s Friday comments that he does not expect a deal with Canada by the deadline.

• CBC noted that the Japan/EU trade deals may not be a workable template for Canada, “given that its economy is proportionally far more dependent on the U.S. market...”
• Earlier, Treasury Secretary Scott Bessent warned that the August 1 tariff deadline won’t be extended, but encouraged people “not to panic” if deals aren’t struck, suggesting that trade talks will continue regardless of tariff implementation.
• On China, Hassett reiterated that this week’s talks with China in Sweden were “very collegial”, noting that “the ground is set for very positive developments”.
• Hassett said, “but at the end” Trump “drives hard bargains,” so the president will discuss the outcome of talks with Secretary Bessent today before announcing any kind of agreement. Hassett added that Trump will “probably have some changes to make” on the agreement.
• On India, Hassett said: “I think what’s going to happen is, India’s going to cut their prices to the US in order to maintain their market share. That’s what everyone else has been doing. Then they might reconsider their practices that have led to this higher rate.”

• US TSY 17W BILL AUCTION: HIGH 4.210%(ALLOT 17.99%)
• US TSY 17W BILL AUCTION: DEALERS TAKE 24.39% OF COMPETITIVES
• US TSY 17W BILL AUCTION: DIRECTS TAKE 5.54% OF COMPETITIVES
• US TSY 17W BILL AUCTION: INDIRECTS TAKE 70.07% OF COMPETITIVES
• US TSY 17W BILL AUCTION: BID/CVR 3.45

• Stocks are trading near steady (SPX eminis) to mixed by late Wednesday morning - modestly weaker DJIA lagging modest gains in the tech-heavy Nasdaq.
• Stocks have pared early gains are holding narrow ranges after this morning's stronger than expected GDP and PCE data weighed on expected rate cut guidance through year end, while investors plied the sidelines ahead of this afternoon's FOMC policy announcement.
• Currently, the DJIA trades down 55.01 points (-0.12%) at 44580.87, S&P E-Minis down 0 points (0%) at 6406, Nasdaq up 50.2 points (0.2%) at 21148.26.
• Information Technology , Utilities and Communication Services sectors outperformed in the first half, leading gainers included: Teradyne +18.29% after better than expected earnings, Generac Holdings +9.30%, Electronic Arts +5.24%, Super Micro Computer +4.42%, Humana +4.36%, Coinbase Global +3.47%, GE Vernova +3.17%, Hershey Co +2.79% and Vistra Corp +2.78%.
• Conversely, Energy, Materials and Estate management sectors underperformed, leading decliners included: IDEX -8.93%, Old Dominion Freight Line -8.14%, Trane Technologies -7.09%, GE HealthCare Technologies -6.55%, Garmin -6.41%, Mondelez International -6.23%, Essex Property Trust -5.06%, Republic Services -3.95% and PPG Industries -3.72%.
• Expected earnings after the close include: Ford Motor Co, Carvana Co, Albemarle Corp, Meta Platforms Inc, Robinhood Markets, QUALCOMM, Guardant Health Inc, Western Digital Corp, Cognizant Technology Solutions, Lam Research Corp, Microsoft, eBay and Allstate.