At 7:30 a.m. CDT Friday, the PCE index for April will be out, the Fed's favorite inflation indicator. We'll also see reports on April durable goods orders, personal incomes and consumer spending. The University of Michigan's index of U.S. consumer sentiment for May follows at 9 a.m. Traders will continue to monitor the latest weather forecasts and news of grain shipments out of the Black Sea.
Weather
Showers and thunderstorms that have been persistent in Montana and the southwestern Plains are forecast to spread through more of the Plains on Friday. Heavy rain and some severe weather are possible. Most of the Corn Belt stays dry today, with some growing concern over dryness through the Midwest.