EM CEEMEA CREDIT: PTT Global Chemical: Launch

• Stocks are firmer Monday, rebounding from Friday's lows while SPX eminis and the Nasdaq remain off last week's record highs. Currently, the DJIA trades up 472.96 points (1.09%) at 44052.33, S&P E-Minis up 75.5 points (1.21%) at 6338.5, Nasdaq up 315.1 points (1.5%) at 20962.37.
• Communication Services, Information Technology and Materials sector shares led gainers in the first half: IDEXX Laboratories surged +26.48% after revenue beat expectations. Meanwhile, materials stocks trade strong: Martin Marietta Materials +5.42%, Franklin Resources +4.89%, Williams-Sonoma +4.33%, Vulcan Materials +3.08% and Newmont Corp +3.18%.
• As did tech some shares: Super Micro Computer +3.80%, Amphenol +3.61%, Monolithic Power Systems +3.14%, Ingersoll Rand +3.65% and  PG&E Corp +3.43%.
• Not all IT stocks gained Monday, as ON Semiconductor declined -10.84% following weak earnings. Elsewhere, LyondellBasell Industries -3.41%, Kraft Heinz -2.68%, Berkshire Hathaway -2.65%, Dexcom-1.83%, Paramount Global -1.81% and Warner Bros Discovery -1.55%.
• After Monday’s close: Diamondback Energy, ONEOK Inc, Vertex Pharmaceuticals, Williams Cos, Voyager Technologies, Axon Enterprise Inc, BioMarin Pharmaceutical Inc, Hims & Hers Health, Palantir Technologies and Sterling Infrastructure.
• Early Tuesday announcements from: Pfizer, Apollo Global, Clear Channel Outdoor Holdings, Henry Schein, Archer-Daniels-Midland, DuPont de Nemours, Cummins Inc, Fidelity National Information, TransDigm Group, Molson Coors Beverage, Caterpillar, Marriott International, Duke Energy Corp and Lucid Group.
• Late Tuesday earnings announcements: Amgen Inc, Rivian Automotive, Arista Networks, Advanced Micro Devices, Match Group, Mosaic, Snap, International Flavors & Fragrances and Super Micro Computer.

Speaking on a visit to Washington, D.C., German Finance Minister Lars Klingbeil speaks on the trade and tariff deal reached between the EU and US in late July. Says it is "positive that there is a deal, but there is a lot to clarify with the US." Laments that "We were too weak in negotiations, we cannot be satisfied." Klingbeil: "We need a quick solution to the trade conflict; security is important for German companies", adding that he will address the issue of steel quotas with Bessent. Regarding the firing of the BLS Commissioner on 1 August, Klingbeil only says, "Institutions must remain independent."

• This trip is Klingbeil's first to the US in office, and he is due to meet with US Treasury Secretary Scott Bessent later today. Klingbeil says that he and Bessent "have been in constant communication" and that he seeks good relations with his US counterpart. Ahead of the meeting, US Trade Representative Jamieson Greer pours cold water on the prospect of a majorly-altered deal, saying "The tariffs are practically final".
• Prior to his visit, Klingbeil, speaking to German radio, reiterated his view that the EU gave in too easily in trade talks: "I think that our weaknesses have already been exposed in the dispute with the Americans over customs duties". He also advocated for closer cooperation with non-EU Western partners such as the UK and Canada. 

• US TSY 26W AUCTION: NON-COMP BIDS $1.923 BLN FROM $73.000 BLN TOTAL