ADP reports on U.S. private sector job growth at 7:15 a.m. CDT Thursday, an early hint of how the May jobs report will go on Friday morning. U.S. weekly jobless claims and an update of the U.S. Drought Monitor will be out at 7:30 a.m. CDT. The U.S. Energy Department has its natural gas inventory report at 9:30 a.m., followed by the weekly energy inventory report at 10 a.m. CDT, including ethanol production. The latest weather forecasts will be closely watched while USDA's weekly export sales report is pushed to Friday morning.
Weather
A system will continue to move through the Ohio Valley Thursday with showers from the eastern Midwest down to the Gulf Coast. Scattered showers will continue across Texas as well, but other areas will remain dry. Heat is building across the northern tier of the country with heat advisories currently over Montana and more to come across the Dakotas and Minnesota. The heat will exacerbate dry conditions across the Northern Plains and northern Midwest.