The U.S. Labor Department will release its reports of nonfarm payrolls and U.S. unemployment for July at 7:30 a.m. CDT, two factors the Fed will be closely watching. Traders will keep close watch on the latest weather forecasts, any news from Ukraine and any more talk of possible exports to China. A report on U.S. consumer credit in June is set for 2 p.m.
Weather
Showers will continue along a stalled boundary near the Ohio River on Friday. Those showers will keep temperatures down a few degrees. But elsewhere across much of the Plains and Midwest, temperatures will rise well above normal. The heat is ahead of a cold front that is moving through the Northern Plains. The front will produce some scattered showers and thunderstorms, some of which may be severe. Temperatures behind the front are much cooler, offering a brief break from the summer heat.