Jobless Claims, Powell Testimony And Other Macro Issues For Thursday

Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Analysts expect jobless claims declining to 225,000 for the June 18 week from 229,000 in the previous week.
The current account report for the first quarter is scheduled for release at 8:30 a.m. ET. After a $217.9 billion gap in the fourth quarter, analysts expect a $277.0 billion deficit for the first quarter.
The flash Composite Purchasing Managers' Index for June will be released at 9:45 a.m. ET. Analysts expect June's manufacturing PMI declining to 56.3 from May's 57.0, while services index might rise slightly to 53.6 from 53.4.
Fed chief Jerome Powell is scheduled to testify before the House Financial Services Committee at 10:00 a.m. ET.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
The EIA’s weekly report on petroleum inventories in the U.S. will be released at 11:00 a.m. ET.
The Kansas City Fed manufacturing index for June is scheduled for release at 11:00 a.m. ET.
The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.