USDA's weekly export sales report, U.S. weekly jobless claims, U.S. durable goods orders and an update of the U.S. Drought Monitor are all due out at 7:30 a.m. Thursday. The U.S. Energy Department's report on natural gas storage follows at 9:30 a.m. and traders remain attentive to the latest weather forecasts.
Weather
An upper-level dome of high pressure continues to cause extreme heat across the middle of the country for Thursday. The edges of the heat dome are becoming more active, however. We are seeing a slight shift southward of the front across its northern edge, though it will be a system moving through the Canadian Prairies that pushes it southward tonight and tomorrow. On the northeastern edge, heavy rainfall has developed over Ohio this morning. While that may peter out this morning, it will be an area for redevelopment later today