Events in the US Today (EDT): • 4:00am - IEA Monthly Oil Report [2/3 Volatility] • 7:30am - POTUS interviewed live on Fox Business Channel • 8:30am - Initial Jobless Claims [3/3 Volatility] • Export & Import Price Index [2/3 Volatility] • 1:00pm - Press Secretary Kayleigh McEnany holds a briefing • 11:00am - The Senate convenes • 1:01pm - 30YR Bond Auction [1/3 Volatility] • Negotiations on a massive coronavirus relief package remained at a stalemate on Wednesday, with Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Charles Schumer (D-N.Y.) charging that White House negotiators have no interest in meeting them halfway to reach an accord. • 1,193 people have been quarantined in Georgia because students returned to schools with COVID-19 infections, setting off chains of precautionary events. • U.S. Trade Representative Robert Lighthizer late Wednesday announced the Trump administration will leave U.S. tariffs unchanged at 15 percent on Airbus aircraft, and maintain 25 percent tariffs on other European goods, despite moves by the European Union to resolve a 16-year-old dispute over aircraft subsidies. The administration ignored calls from European Union officials and rejected an appeal this week from U.S. lawmakers to drop tariffs on food, wine and spirits from the EU, but did not add tariffs to vodka, gin and beer, as it had threatened Events in the World Today (EDT): • 2:00am - Germany CPI (MoM-Jul) [2/3 Volatility] • 3:00am - Spain CPI & HICP (YoY-Jul) [2/3 Volatility] • 8:00am - India CPI (YoY-Jul) [2/3 Volatility] • 2:00pm - Mexico Interest Rate Decision (Aug) [2/3 Volatility] • 6:30pm - New Zealand Business NZ PMI (Jul) [2/3 Volatility] • 7:30pm - Australia RBA Gov Lowe Speaks [2/3 Volatility] • 10:00pm - China Industrial Production (YoY-Jul) [3/3 Volatility] • China Fixed Asset Investment (YoY-Jul) [2/3 Volatility] • China Industrial Production YTD (YoY-Jul) [2/3 Volatility] • China Unemployment Rate [2/3 Volatility] • China NBS Press Conference [2/3 Volatility] • Crude oil prices softened slightly after the International Energy Agency followed the Organization of Petroleum Exporting Countries in trimming its forecast for average oil demand this year. • The IEA cut its estimates for the last two quarters of this year by 500,000 barrels a day, projecting that consumption will average 95.25 million barrels a day in the period. • The reduced forecasts this week have been largely due to slack demand for jet fuel, as air travel has failed to rebound with the same vigor as travel by car and truck. • Germany recorded the highest number of new COVID cases in more than three months. Earnings Before Open: • TK, Grow Generation, Net Ease, IIVI Inc, Very, Tapestry, Magic, RedHill Biopharma Earnings After Close: • Applied Materials, Purple, Baidu, Blink, QIY, Farfetch, Izea, Arcadia, Globant, Biolase