At 9 a.m. CDT Tuesday, there will be reports on U.S. new home sales in June and an index of U.S. consumer confidence for July. This is also another busy week of earnings reports and the Federal Reserve will begin its two-day meeting with a rate hike of 0.75% expected on Wednesday. Traders will keep a close watch on weather, Russia's latest moves and anything pertaining to outside markets.
Weather
A front stalled out from southern Kansas through the Ohio Valley remains active with scattered showers on Tuesday. Some of these showers have already been heavy early this morning from Missouri into southern Indiana. A second front moving through the Northern Plains will bring showers to the Dakotas, Nebraska, and Minnesota, offering some relief to a few drier areas in that region. South of the fronts, heat continues to be significant for the Southern Plains into the Delta and also in the Pacific Northwest.