After reporting a 9.1% gain in annual consumer prices in June, the U.S. Labor Department will report on producer prices at 7:30 a.m. CDT, Thursday -- the same time USDA's weekly export sales report, weekly U.S. jobless claims and an update of the U.S. Drought Monitor are all released. The U.S. Energy Department reports on natural gas in storage at 9:30 a.m. Traders will continue to watch split screens, juggling attention between the latest weather forecasts and happenings in outside markets.
Weather
Heat is spreading from the West into more of the Plains Thursday as a ridge is starting to take over North America. The increased heat will lead to some showers and thunderstorms in the Northern Plains and Canadian Prairies today that could be severe. Old fronts across the Southeast will continue daily showers and thunderstorms in that region as well.