A report on U.S. retail sales in June is due out at 7:30 a.m. CDT, followed by the Federal Reserve's report on U.S. industrial production at 8:15 a.m. and the University of Michigan's index of U.S. consumer sentiment at 9 a.m. Traders will continue to split attention between the latest weather forecasts and the larger economic news with a view toward the next Fed meeting near the end of this month.
Weather
A weak disturbance moving through the Midwest is causing showers Friday. The scattered showers are bringing light to moderate amounts, but not everywhere is going to get hit and showers will die out as they move through the eastern sections of the Midwest tonight. Scattered showers will continue in the Southeast again today. Heat will continue where showers do not occur, causing stress for pollinating corn and worsening or expanding drought in the Plains.