Wednesday's reports start with an update of first-quarter U.S. GDP at 7:30 a.m. CDT. Fed officials will be speaking throughout the day at a banking conference in Europe and may scare investors, at times. At 9:30 a.m., the U.S. Energy Department will issue two weeks of inventory data, including ethanol production after encountering technical problems last week. USDA's quarterly Hogs and Pigs report is due out at 2 p.m.
Weather
A frontal boundary across the north will see a storm system riding along it on Wednesday, producing scattered showers and thunderstorms, some of which may be severe in the Northern Plains. A brief burst of heat is occurring ahead of the front today in the Northern and Central Plains, but temperatures across the rest of the country are much more seasonable. Meanwhile, a stalled front from the weekend continues to produce scattered showers in the Southeast and along the Gulf Coast. We also continue to watch a disturbance in the northwestern Gulf of Mexico for tropical development. It may become a short-lived tropical system before reaching the Texas coastline on Thursday.