Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted December 6, 2024

This article focuses on what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term U.S. outlooks (up to four weeks) and a six-day World weather outlook which can be very useful for travelers.

First the NWS Short Range Forecast. The afternoon NWS text update can be found here after about 4 p.m. New York time but it is unlikely to have changed very much from the morning update. The images in this article automatically update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Fri Dec 06 2024
Valid 12Z Fri Dec 06 2024 – 12Z Sun Dec 08 2024

…More lake-effect/lake-enhanced snow downwind from Lakes Erie and
Ontario…

…Arctic air currently engulfing much of the eastern U.S. will gradually
moderate over the next couple of days…

…Dry and milder than average temperatures in the western U.S. will
spread into the northern and central U.S. through the next couple of
days…

Under an intense surge of arctic air, Friday morning will begin with the
coldest temperatures so far this season across much of the central and
eastern U.S. with blustery conditions and a piercing wind chill. The
persistent flow of arctic over the relatively warm waters of the Great
Lakes has continued to bring lake-effect snows downwind into the Snow
Belt. By later today into tonight, another clipper currently forming
along the arctic front will spread more snow across the Great Lakes from
northwest to southeast. By Saturday, still another clipper will bring
more widespread snowfall across the upper Great Lakes, reaching into the
lower lakes Saturday night. Milder air could change some of the snow to
rain Saturday afternoon near the western fringe of these areas. As much
as two additional feet of new snow is possible near the eastern shore of
Lake Ontario through the next couple of days. Lighter snowfall amounts
can be expected elsewhere along the Snow Belt.

After a morning with wind chills possibly falling below zero across the
mountains of the Applachains, conditions are expected to improve through
the next couple of days as southwesterly winds begin to bring milder air
from the western U.S. into the northern and central Plains. The most
drastic recovery will be found over the northern High Plains where high
temperatures could top 60 degrees by Saturday afternoon.

The retreating arctic high pressure system that brings the milder air into
the northern U.S. will also bring increasing moisture into Texas. It
appears that rain will expand in coverage across southern to eastern Texas
through Saturday ahead of an upper trough. Additional influx of moisture
from the Gulf of Mexico could begin to raise the threat of heavy rain from
eastern Texas into Louisiana by early on Sunday.

After a tranquil Friday, increasingly unsettled weather is expected for
the Pacific Northwest by the weekend. Rain showers and some high elevation
snow will return to Washington State and Oregon by Saturaday as the next
front moves through. The mountain snow and low-elevation rain will
progress farther inland, reaching into the northern Rockies by early
Sunday as a low pressure system begins to develop across the northern High
Plains into Alberta Province of Canada. Much of the remainder of the
western U.S. will remain dry and milder than normal as high pressure
dominates the region. High temperatures will be in the 80s across the
Southwest while 70s and 60s will prevail from southern California to the
Pacific Northwest.

To get your local forecast plus active alerts and warnings click HERE and enter your city, state or zip code.

Learn about wave patterns HERE.

Then, looking at the world and of course, the U.S. shows here also. Today we are looking at precipitation.

Please click on “Read More” below to access the full Daily Report issued today.

05 DEC 2024 Market Close & Major Financial Headlines: Today’s Roll-Coaster Session Certainly Had Its Ups And Downs With The Nasdaq And S&P 500 Setting New Historical Highs Then Plunging Lower To Finally Close Down

Summary Of the Markets Today:

  • The Dow closed down 248 points or 0.55%,
  • Nasdaq closed down 35 points or 0.18%, (New Historic high 19,790, Closed at 19,700)
  • S&P 500 closed down 11 points or 0.19%, (New Historic high 6,075, Closed at 6,075)
  • Gold $2,654 down $22.50 or 0.83%,
  • WTI crude oil settled at $69 down $0.03 or 0.04%,
  • 10-year U.S. Treasury 4.174 down 0.008 points or 0.191%,
  • USD index $105.75 down $0.58 or 0.54%,
  • Bitcoin $99,223 down $198 or 0.20%, (24 Hours), (New Bitcoin Historic high 103,544)

*Stock data, cryptocurrency, and commodity prices at the market closing

Today’s Highlights

The U.S. stock market experienced a relatively flat session on Thursday, with investors anticipating the crucial jobs report on Friday. Bitcoin made headlines by breaking through the $100,000 mark, reaching as high as $103,000. This surge was driven by expectations of a crypto-friendly approach from the incoming Trump administration and the nomination of Paul Atkins as potential SEC chair, who is seen as supportive of cryptocurrency. Investors are closely watching Friday’s jobs report for insights into the economy’s strength. Interestingly, smaller cryptocurrencies have outperformed Bitcoin since the election with Bitcoin is up over 40% since Election Day; Ethereum has risen almost 60; and some smaller tokens like Ripple, Cardano, and Dogecoin have seen triple-digit rallies. The market is currently pricing in a 74% chance of a 25 basis point rate cut by the Federal Reserve on December 18. 5 The market remains optimistic, with continued focus on potential interest rate cuts and the upcoming jobs report.


Click here to read our current Economic Forecast – December 2024 Economic Forecast: Insignificant Improvement And Still Indicating a Weak Economy


Today’s Economic Releases Compiled by Steven Hansen, Publisher:

The trade balance improved in October 2024 as both imports and exports declined. Imports declined from 9.4% year-over-year last month to 3.7% this month. Exports declined from 5.1% year-over-over last month to 2.0% this month. The trade balance declined from 34.7% gain last month to 14.8% this month. The likely reason is that in September, shippers rushed shipments to avoid a potential east coast strike – this means September would have been well above normal whilst October would have been less than normal.

In the week ending November 30, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 218,250, an increase of 750 from the previous week’s revised average. The previous week’s average was revised up by 500 from 217,000 to 217,500. This data is historically consistent with a strong economy.

U.S.-based employers announced 57,727 job cuts in November 2024, a 3.8% increase from the 55,597 cuts announced one month prior. It is up 26.8% from the 45,510 cuts announced in the same month in 2023.

Here is a summary of headlines we are reading today:

  • Oil Prices Steady After OPEC+ Pushes Back Output Hike
  • Data Centers Are Sending Global Electricity Demand Soaring
  • Bitcoin Shatters $100,000 Ceiling, Fueled by Trump’s Pro-Crypto Stance
  • Why Oil Markets Are Trading With Zero Conviction
  • Small Nuclear Reactors Are Gaining Traction Around the Globe
  • MicroStrategy gives up big gain, turns negative despite bitcoin $100,000 milestone
  • There’s an important jobs report coming Friday. Here’s what to expect
  • Dow drops more than 200 points, S&P 500 retreats from record as big payrolls report looms: Live updates
  • Lilly invests $3 billion to expand Wisconsin plant as obesity drug demand soars
  • Waymo to expand to Miami, aims to launch robotaxi service there in 2026
  • Boeing plea deal tied to fatal crashes rejected
  • Treasury yields end mixed as November jobs data looms

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted December 5, 2024

This article focuses on what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term U.S. outlooks (up to four weeks) and a six-day World weather outlook which can be very useful for travelers.

First the NWS Short Range Forecast. The afternoon NWS text update can be found here after about 4 p.m. New York time but it is unlikely to have changed very much from the morning update. The images in this article automatically update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Thu Dec 05 2024
Valid 12Z Thu Dec 05 2024 – 12Z Sat Dec 07 2024

…Heavy lake-enhanced/lake-effect snow downwind from Lakes Erie and
Ontario on Thursday and Friday; Moderate to heavy snow over parts of New
England on Thursday; light to moderate snow over parts of the Central
Appalachians on Thursday and Friday…

…Light to moderate lake-effect snow for the Upper Peninsula of Michigan
and the west coast of the Lower Peninsula on Thursday and Friday…

…Temperatures will be 10 to 20 degrees below average over parts of the
Ohio Valley and the Mid-Atlantic…

A storm over southeastern Canada will move eastward to far eastern Canada
by Friday morning. The system will produce heavy lake-enhanced then heavy
lake-effect snow downwind from Lakes Erie and Ontario on Thursday and
Friday. Additionally, in the wake of the storm, light to moderate
lake-effect snow will develop over parts of the Upper Peninsula of
Michigan and the west coast of the Lower Peninsula of Michigan on Thursday
and Friday. Further, moderate to heavy snow will be created on Thursday
over parts of New England. By Friday, scattered light snow will be over
New England and then the snow will end by Friday evening. Furthermore,
light to moderate snow will develop over parts of the Central Appalachians
on Thursday and Friday.

Moreover, the strong arctic cold front will sweep across the Mid-Atlantic
and the Northeast on Thursday. The boundary will create snow squalls
accompanied by intense bursts of heavy snowfall and gusty winds, producing
dangerous travel conditions due to whiteouts and icy roads.

In addition, wind gusts up to 50 mph will spread into the Central
Appalachians, Mid-Atlantic, and Northeast on Thursday. These winds may
cause power outages, down tree branches, and result in hazardous commutes.

Moreover, after the storm, high pressure over the Northern Plains will
move southeastward to the Tennessee Valley by Saturday. The high pressure
will usher in cold temperatures over parts of the Ohio Valley and the
Mid-Atlantic, bringing temperatures of 10 to 20 degrees below average.

Meanwhile, return flow off the Gulf of Mexico will create scattered
showers and thunderstorms over parts of the Central Gulf Coast on
Thursday. On Friday, scattered showers and thunderstorms will develop over
parts of the Southern High Plains.

Elsewhere, lingering stagnant air conditions will be over parts of the
Pacific Northwest, leading to areas of dense fog and poor air quality.
However, an approaching front over the Eastern Pacific will usher moisture
into the Pacific Northwest, creating light rain over parts of the
Northwest Coast late Friday night into Saturday.

To get your local forecast plus active alerts and warnings click HERE and enter your city, state or zip code.

Learn about wave patterns HERE.

Then, looking at the world and of course, the U.S. shows here also. Today we are looking at precipitation.

Please click on “Read More” below to access the full Daily Report issued today.

04Dec2024 Market Close & Major Financial Headlines: Markets Up Driven By Tech Rally and Chair Powell’s Positive Economic Remarks

Summary Of the Markets Today:

  • The Dow closed up 309 points or 0.69%,
  • Nasdaq closed up 254 points or 1.30%,
  • S&P 500 closed up 37 points or 0.61%,
  • Gold $2,675 up $6.60 or 0.24%,
  • WTI crude oil settled at $69 down $1.13 or 1.62%,
  • 10-year U.S. Treasury 4.186 down 0.035 points or 0.83%,
  • USD index $106.33 down $0.03 or 0.02%,
  • Bitcoin $98,882 up $2,891 or 3.01%, (24 Hours)

*Stock data, cryptocurrency, and commodity prices at the market closing

Today’s Highlights

On Wednesday, all three major US stock indexes reached record closing highs, driven by a tech rally. The Dow Jones Industrial Average surpassing 45,000 for the first time. Investors reacted positively to Federal Reserve Chair Jerome Powell’s comments at the New York Times DealBook Summit, where he described the US economy as being in “remarkably good shape.” This bolstered confidence that the Fed may cut interest rates at its upcoming December meeting, with traders estimating a 77% chance of a 25 basis point reduction. Significant gains were seen in major tech stocks: Amazon (AMZN) and Apple (AAPL) both reached intraday all-time highs. Nvidia (NVDA) surged over 3%, nearing its record. Salesforce (CRM) stock jumped by 11% following strong quarterly revenue results that raised expectations for its AI products. Bitcoin approached $100,000 per coin amid positive investor sentiment following President-elect Donald Trump’s nomination of Paul Atkins as SEC Chairman, who is viewed favorably by the cryptocurrency community.


Click here to read our current Economic Forecast – December 2024 Economic Forecast: Insignificant Improvement And Still Indicating a Weak Economy


Today’s Economic Releases Compiled by Steven Hansen, Publisher:

Private employers added 146,000 jobs in November 2024 as pay gains accelerated according to ADP. The pace of year-over-year pay growth for job-stayers edged up for the first time in 25 months. ADP may actually be better at estimating non-farm employment than the BLS since ADP has changed their methodology. Whilst 146,000 is not excellent – it does show an expansion equal to the growth of the workforce. On Friday, the BLS will issue their jobs report. ADP chief economist Nela Richardson said:
While overall growth for the month was healthy, industry performance was mixed. Manufacturing was the weakest we’ve seen since spring. Financial services and leisure and hospitality were also soft.

In November 2024, the ISM Services PMI® registered 52.1 percent, 3.9 percentage points lower than October’s figure of 56 percent. A reading close to but above 50 indicates a weak economy.

The November 2024 Beige Book showed a slight economic increase in most Districts with no increase or decline in two Districts (San Francisco and Boston). Consumer Spending was generally stable with decreased spending on home furnishings. There was low mortgage demand with mixed recent trends with subdued commercial real estate lending Flat or declining capital spending with weak farm equipment sales, flat oil and gas activity, but growing electricity demand. Labor Markets were flat or slightly increasing with subdued hiring activity and softening wage growth except in entry-level and skilled trades positions. There were modest price increases with difficulty in passing costs to customers. Rising input prices outpacing selling prices. Significant cost pressures from rising insurance prices. Remember this Fed release is simply anecdotal – it is the gut feel for each of the Fed Districts.

Here is a summary of headlines we are reading today:

  • Oil Prices Predicted to Plummet Below $60 Under Trump
  • Rare Earth Prices Surge as Myanmar Mines Fall Under Rebel Control
  • Shell Splits Power Division and Scales Back Offshore Wind
  • NATO Pledges Urgent Support for Ukraine’s Battered Infrastructure
  • China’s Export Ban Sends Antimony Prices Soaring 40% in One Day
  • Oil Prices Tick Higher on Crude Inventory Draw
  • Russia’s Oil Revenues Slump by 21% as Prices Drop
  • Aramco, SLB, and Linde to Build One of the World’s Top Carbon Capture Hubs
  • French government toppled in no-confidence vote brought by opposition
  • Trump picks Peter Navarro as top trade advisor
  • Trump considers replacing Pete Hegseth, his embattled secretary of defense pick, with Ron DeSantis
  • Trump Selects An Actual Astronaut To Lead NASA
  • Why More Middle Income Americans Are Struggling to Save Money

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted December 4, 2024

This article focuses on what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term U.S. outlooks (up to four weeks) and a six-day World weather outlook which can be very useful for travelers.

First the NWS Short Range Forecast. The afternoon NWS text update can be found here after about 4 p.m. New York time but it is unlikely to have changed very much from the morning update. The images in this article automatically update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Wed Dec 04 2024
Valid 12Z Wed Dec 04 2024 – 12Z Fri Dec 06 2024

…Heavy snow for the Upper Peninsula of Michigan and the northern Lower
Peninsula on Wednesday…

…Heavy lake-enhanced snow downwind from Lakes Erie and Ontario on
Wednesday and Thursday; Heavy snow over parts of Northern New England;
light to moderate snow over parts of the Central Appalachians on
Wednesday…

…Temperatures will be 10 to 15 degrees below average over parts of the
Mid-Atlantic and the Southeast…

On Wednesday, high pressure over the Southeast will move southeastward off
the Southeast Coast by Wednesday night. The high pressure will create cold
temperatures over parts of the Mid-Atlantic and the Southeast, bringing
temperatures of 10 to 15 degrees below average.

Meanwhile, low pressure just north of Lake Superior will move eastward to
Southeast Canada by Friday. The storm will produce heavy snow over the
Upper Peninsula of Michigan and the northern Lower Peninsula of Michigan
through Thursday morning. Moreover, heavy lake-enhanced snow will develop
downwind of Lakes Erie and Ontario through Friday. Additionally, heavy
snow will develop over New England through Friday too.

Furthermore, light snow will develop over parts of the Northern
Plains/Upper Mississippi Valley and the Ohio Valley from Wednesday through
Friday. Moderate to heavy snow will develop over parts of the Central
Appalachians through Friday. Rain will also develop over the coastal parts
of New England through Thursday afternoon and then change over to snow.

Moreover, weak return flow off the Gulf of Mexico will create scattered
showers and thunderstorms over parts of the West/Central Gulf Coast
through Wednesday and Thursday. Some of the rain will be moderate to heavy
over parts of the Western Gulf Coast. Therefore, the WPC has issued a
Marginal Risk (level 1/4) of excessive rainfall over parts of the Western
Gulf Coast through Thursday morning. The associated heavy rain will
create localized areas of flash flooding, affecting areas that experience
rapid runoff with heavy rain.

Rain will also expand along the Eastern Gulf Coast into the Southeast on
Thursday and into parts of the Southern High Plains Thursday night into
Friday.

Elsewhere, upper-level ridging will create stagnant air conditions over
parts of the Pacific Northwest, leading to areas of dense fog and poor air
quality. However, an approaching front over the Eastern Pacific will usher
moisture into the Pacific Northwest, creating light rain over parts of the
Northwest Coast late Wednesday night into Friday.

To get your local forecast plus active alerts and warnings click HERE and enter your city, state or zip code.

Learn about wave patterns HERE.

Then, looking at the world and of course, the U.S. shows here also. Today we are looking at precipitation.

Please click on “Read More” below to access the full Daily Report issued today.

03Dec2024 Market Close & Major Financial Headlines: Markets Close Mixed With S&P 500 and NASDAQ Hitting New Highs

Summary Of the Markets Today:

  • The Dow closed down 76 points or 0.17%,
  • Nasdaq closed up 77 points or 0.40%,
  • S&P 500 closed up 3 points or 0.05%,
  • Gold $2,665 up $6.60 or 0.24%,
  • WTI crude oil settled at $70 up $1.87 or 2.75%,
  • 10-year U.S. Treasury 4.230 up 0.036 points or 0.86%,
  • USD index $106.34 down $0.11 or 0.1%,
  • Bitcoin $95,818 down $30 or 0.03%, (24 Hours)

*Stock data, cryptocurrency, and commodity prices at the market closing

Today’s Highlights

US stocks closed mixed on Tuesday as investors processed new jobs data and Federal Reserve commentary on interest rates. The S&P 500 (^GSPC) and NASDAQ Composite (^IXIC) reached new record highs. The Dow Jones Industrial Average (^DJI) ended down despite recovering from earlier lows. Job openings in October increased by 372,000 to 7.74 million, surpassing estimates of 7.52 million. The Job Openings and Labor Turnover Survey (JOLTS) revealed fewer hires but a rise in the quits rate from 1.9% to 2.1%, indicating increased worker confidence [note: there is no correlation of jobs growth to either hires or quits]. Fed policymakers Mary Daly, Austan Goolsbee, and Adriana Kugler suggested continued rate cuts as the central bank moves towards a more neutral policy stance. Following these comments, Treasury yields increased, with the 10-year note yield rising about 3 basis points. Market expectations for a quarter-point rate cut at the Fed’s December 18 meeting increased to 72%, up from 62% the previous day. In corporate news, US Steel (X) shares fell about 8% after President-elect Donald Trump vowed to block its $15 billion takeover by Japan’s Nippon Steel.


Click here to read our current Economic Forecast – December 2024 Economic Forecast: Insignificant Improvement And Still Indicating a Weak Economy


Today’s Economic Releases Compiled by Steven Hansen, Publisher:

On an annual basis, home prices rose by 3.4% in October 2024. Note that in the chart below CoreLogic projects home prices will continue to decline until the middle of next year – and then will begin increasing reaching the 2.4% in October 2025. For the majority of Americans, homes are the most valuable asset owned. A decline in home prices would slow consumer spending.

Historically there has been a correlation between Job Openings and employment growth. In October 2024. job opening modestly grew which suggests modest improvement in employment growth in the coming months. I would not be surprised no matter the results of December’s employment report but note both employment gain and job openings have been trending down (which suggests employment growth should slow).

Here is a summary of headlines we are reading today:

  • Uncertainty Looms Over Aluminum Prices as Chinese Exports Face New Tariff
  • US Treasury Tightens Focus on Iran’s Oil Networks
  • Jaguar’s Electric Ambitions Take Shape with Type 00 Reveal
  • Putin’s War Effort Strains Russian Economy
  • Why No One Wants California’s Orphaned Oil Wells
  • Oil Prices Rise as OPEC+ Prepares to Extend Production Cuts
  • EU Commission Earmarks $4.8 Billion for Clean Tech and EV Batteries
  • NATO Chief Cautions Trump Against ‘Bad’ Ukraine Peace Deal
  • Russia’s ESPO Crude Prices Jump to 2022 High on Strong Chinese Demand
  • Intel considers an outside CEO, taps headhunters, sources say
  • Mike Bloomberg warns making RFK Jr. HHS secretary risks killing Americans, urges Senate to reject him
  • US Steel Takeover By Japanese Company Will Be Blocked, Says Trump
  • Will Microsoft Ride $5 Trillion Bitcoin Wave (Or Avoid Risk); PolyMarket Betters Skeptical

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted December 3, 2024

This article focuses on what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term U.S. outlooks (up to four weeks) and a six-day World weather outlook which can be very useful for travelers.

First the NWS Short Range Forecast. The afternoon NWS text update can be found here after about 4 p.m. New York time but it is unlikely to have changed very much from the morning update. The images in this article automatically update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Tue Dec 03 2024
Valid 12Z Tue Dec 03 2024 – 12Z Thu Dec 05 2024

…Heavy snow for the Upper Peninsula of Michigan and the northern Lower
Peninsula on Tuesday and Wednesday…

…Lake-effect and lake-enhanced snow downwind from Lakes Erie and Ontario
on Tuesday and Wednesday; Moderate to heavy snow over parts of Northern
New England; light to moderate snow over parts of the Central Appalachians
on Wednesday…

…Temperatures will be 10 to 15 degrees below average over parts of the
Ohio Valley, the Mid-Atlantic, and the Southeast…

On Tuesday, high pressure over the Middle Mississippi Valley will slowly
move southeastward off the Southeast Coast by Wednesday night. The high
pressure will create cold temperatures over parts of the Ohio Valley, the
Mid-Atlantic, and the Southeast, bringing temperatures of 10 to 15 degrees
below average.

Meanwhile, low pressure over West-Central Canada will move southeastward
to Quebec, Canada, by Thursday. The storm will produce heavy snow over the
Upper Peninsula of Michigan and the northern Lower Peninsula of Michigan
through Thursday. Moreover, lake-effect snow will continue downwind from
Lakes Erie and Ontario on Tuesday. Them on Wednesday, moderate to heavy
lake-enhanced snow develops downwind of Lakes Erie and Ontario through
Thursday.

Furthermore, light snow will develop over parts of the Northern
Plains/Upper Mississippi Valley Tuesday through Thursday. Moreover, as the
front moves over the Ohio Valley into the Northeast/Mid-Atlantic, light to
moderate snow will develop over parts of the Ohio Valley and the Central
Appalachians on Wednesday into Thursday. Additionally, moderate to heavy
snow will develop over parts of Northern New England on Wednesday. Light
to moderate snow will develop over other parts of Southern New England and
the Northeast. Rain will also develop over the coastal parts of New
England.

Moreover, weak return flow off the Gulf of Mexico will create scattered
showers and thunderstorms over parts of the West/Central Gulf Coast
through Wednesday and rain over parts of the Lower Mississippi/Tennessee
Valleys and Southeast Wednesday into Thursday.

Elsewhere, upper-level ridging will create stagnant air conditions over
parts of the Pacific Northwest, leading to areas of dense fog and poor air
quality. However, an approaching front over the Eastern Pacific will usher
moisture into the Pacific Northwest, creating light rain over parts of the
Northwest Coast Wednesday night into Thursday. Furthermore, a High Wind
Watch will be in effect over parts of the Northern Rockies through late
Tuesday morning.

To get your local forecast plus active alerts and warnings click HERE and enter your city, state or zip code.

Learn about wave patterns HERE.

Then, looking at the world and of course, the U.S. shows here also. Today we are looking at precipitation.

In case  you  missed the December update we posted yesterday, this graphic summarizes it.

NOAA provided a combination of the Updated Outlook for the New Month and the Three-Month Outlook.

The top pair of maps are again the Updated Outlook for the new month. There is a temperature map and a precipitation map. The bottom row shows the three-month outlooks which includes December. I think the outlook maps are self-explanatory. The full article posted on December  2 can be accessed HERE.

Please click on “Read More” below to access the full Daily Report issued today.

02Dec2024 Market Close & Major Financial Headlines: NASDAQ and S&P 500 Close At Record Highs. The DOW Slips.

Summary Of the Markets Today:

  • The Dow closed down 129 points or 0.29%,
  • Nasdaq closed up 186 points or 0.97%,
  • S&P 500 closed up 15 points or 0.24%,
  • Gold $2,661 down $20.30 or 0.76%,
  • WTI crude oil settled at $68 down $0.07 or 0.1%,
  • 10-year U.S. Treasury 4.192 down 0.002 points or 0.048%,
  • USD index $106.38 up $0.64 or 0.60%,
  • Bitcoin $95,563 down $1,727 or 1.78%, (24 Hours)

*Stock data, cryptocurrency, and commodity prices at the market closing

Today’s Highlights

The Nasdaq and S&P 500 closed at record highs on Monday. The Dow Jones Industrial Average slipped from its recent peak. Tech stocks led the gains, with Apple reaching new highs and Tesla shares rising over 3%. Investors are anticipating the November jobs report on Friday, which could influence the Federal Reserve’s decision on interest rate cuts. Federal Reserve Governor Christopher Waller indicated he’s leaning towards supporting another rate cut at the December FOMC meeting, barring any upside surprises in inflation data. The S&P 500 and Dow are entering December on a strong note, having ended November with their best monthly gains in a year. Year-to-date, the S&P 500 is up over 25%, while the Dow has gained nearly 20%. In individual stocks, Stellantis shares fell after CEO Carlos Tavares suddenly resigned and Intel stock pared earlier gains following the announcement of CEO Pat Gelsinger’s retirement. The dollar strengthened as investors assessed President-elect Trump’s latest tariff threat against BRICS countries. Trump warned of 100% tariffs if these nations move away from the US dollar, raising concerns about potential trade conflicts.


Click here to read our current Economic Forecast – December 2024 Economic Forecast: Insignificant Improvement And Still Indicating a Weak Economy


Today’s Economic Releases Compiled by Steven Hansen, Publisher:

Construction spending during October 2024 was 5.0% above October 2023 – down from 5.3% the previous month. Spending on private construction increased from 4.5% to 5.1% year-over-year. Public construction spending declined significantly from 8.0% year-over-year to 4.5%. Although construction remains a bright spot in today’s economy, it is slowly losing its shine.

The Institute for Supply Management’s Manufacturing PMI® registered 48.4% in November 2024, 1.9 percentage points higher compared to the 46.5 percent recorded in October. The New Orders Index returned to expansion, albeit weakly, after seven months of contraction, registering 50.4 percent, 3.3 percentage points higher than the 47.1 percent recorded in October. For the last two years, manufacturing has been in a recession in the U.S.

Here is a summary of headlines we are reading today:

  • Panama Delists 6 Flagged Ships over UK Russia Sanctions
  • Trump’s Tariff Threats Trigger Surge in Chinese Exports
  • U.S.-Based Semiconductor Company Tied to Russian Military Supply Chain
  • This Forgotten Metal Could be The No.1 Commodity Play of 2025
  • U.S. Enters Winter with Highest Natural Gas Stocks in Eight Years
  • Is Trump Going To Turn The Screw On Iran’s Key Criminal Accomplice Iraq?
  • Traders Become More Bullish on European Diesel as Winter Arrives
  • Gazprom Hits Maximum Capacity of Pipeline Gas Flows to China
  • Europe’s Gas Storage Plummets at Fastest Pace in 8 Years
  • Europe’s Gas Storage Plummets at Fastest Pace in 8 Years
  • Norway Pauses Deep Sea Mining Plans
  • Fed Governor Waller says he is ‘leaning toward’ a December rate cut, but worries about inflation
  • Trump Warns Hamas Of “Hell To Pay” If Hostages Aren’t Freed Before Inauguration
  • US Bitcoin Reserve Is Possible, But Not Without Downsides

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

NOAA Updates their Mid-Month Forecast for December 2024 on November 30, 2024 – Major Changes. – Posted on December 2, 2024

At the end of every month, NOAA updates its Outlook for the following month which in this case is December of 2024. We are reporting on that tonight. In this article, I refer to December 2024 as “The New Month”.

There have been significant changes in the Outlook for the new month and these are addressed in the NOAA Discussion so it is well worth reading.  We provided the prior Mid-Month Outlook for the new month for comparison. It is easy to see the substantial changes in the weather outlook by comparing the Mid-Month and Updated Maps. My comments are in a box.

The article includes the Drought Outlook for the new month. NOAA also adjusted the previously issued three-month Drought Outlook to reflect the changes in the new month’s Drought Outlook. We also provide the Week 2/3 Tropical Outlook for the World. The Tropical Outlet includes both direct and indirect potential impacts to the Southern Tier of CONUS. We also include a whole set of forecasts for parts of the new month. These are both useful and provide a crosscheck on the validity of the new month’s Outlook. The whole should be equal to the sum of its parts.

The best way to understand the updated outlook for the new month is to view the maps and read the NOAA discussion. I have highlighted the key statements in the NOAA Discussion.

I am going to start with graphics that show the updated Outlook for the new month and the earlier Mid-Month Outlook for the new month. This is followed by a graphic that shows both the Updated Outlook for the new month and the previously issued three-month outlook for the three-month period that includes the new month. So you get the full picture in three graphics.

Here is the updated Outlook for December 2024.

For Comparison Purposes, Here is the earlier Mid-Month Outlook for November

It is important to remember that the maps show deviations from the current definition of normal which is the period 1991 through 2020.  So this is not a forecast of the absolute value of temperature or precipitation but the change from what is defined as normal or to use the technical term climatology.

It is a substantial change from what was issued on November 21, 2024. Remember, it is the first set of maps that are the current outlook for December which is the new month.  One expects some changes  10 days later. However, the changes to the updated new month Outlook are very significant.  This then gives us some reason to question the (November 21, 2024) three-month NDJ temperature and precipitation Outlooks which are shown in the following graphic.

NOAA provided a combination of the Updated Outlook for the New Month and the Three-Month Outlook.

The top pair of maps are again the Updated Outlook for the new month. There is a temperature map and a precipitation map. The bottom row shows the three-month outlooks which includes the new month. I think the outlook maps are self-explanatory.

To the extent that one can rely on a forecast, we would conclude that January and February will be very different than December. You can subtract December from the three-month Outlook and divide by two to get a combined January/February Outlook.

However given the major change in the new Outlook outlook from what was issued on November 21,  2024, we might not trust the three-month Outlook issued on November 21, 2024. Something to think about. But the major factor is the projected slower onset of La Nina. Thus this change may be consistent with the pattern the NOAA has been predicting although they have been playing catch-up.

I am still not convinced that there will be a La Nina Winter. Thus I am somewhat skeptical about the NOAA Outlooks.

Some readers may need to click “Read More” to read the rest of the article.  Some will feel that they have enough information. But there is a lot more information in the rest of this article.

Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted December 2, 2024

This article focuses on what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term U.S. outlooks (up to four weeks) and a six-day World weather outlook which can be very useful for travelers.

First the NWS Short Range Forecast. The afternoon NWS text update can be found here after about 4 p.m. New York time but it is unlikely to have changed very much from the morning update. The images in this article automatically update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Mon Dec 02 2024
Valid 12Z Mon Dec 02 2024 – 12Z Wed Dec 04 2024

…Heavy lake-effect snow continues downwind from Lake Erie through
Wednesday…

…Light snow over parts of the Middle Mississippi Valley, Southern Ohio
Valley, and Southern Appalachians on Monday; moderate to heavy snow over
parts of the Upper Peninsula of Michigan on Tuesday evening into
Wednesday…

…Temperatures will be 10 to 15 degrees below average over parts of the
Northern/Central Plains to the Ohio Valley and the Mid-Atlantic…

High pressure over Central Canada/Northern Plains will settle
southeastward to the Southeast by Wednesday. The high pressure will also
usher cold air over parts of the Northern/Central Plains to the Ohio
Valley and the Mid-Atlantic, bringing temperatures of 10 to 15 degrees
below average. Additionally, Freeze Warnings will be over parts of the
Southeast.

The upper-level troughing will continue over parts of the Lower Great
Lakes and Northeast through Tuesday afternoon. The continued cold air
streaming over the Great Lakes will produce light to moderate lake-effect
snow over the Upper Peninsula of Michigan and the west coast of the Lower
Peninsula of Michigan through Monday. Moreover, heavy lake-effect snow
will continue downwind from Lake Erie through Wednesday. Light to moderate
lake-effect snow will continue downwind of Lake Ontario into Wednesday.

Moreover, a wave of low pressure will create light snow over parts of the
Middle Mississippi Valley, Southern Ohio Valley, and Southern Appalachians
on Monday. On Tuesday evening, an approaching area of low pressure over
Central Canada will create moderate to heavy snow over parts of the Upper
Peninsula of Michigan into Wednesday.

Meanwhile, weak return flow off the Gulf of Mexico will create scattered
showers and thunderstorms over parts of the West Gulf Coast through
Wednesday. Elsewhere, upper-level ridging will create stagnant air
conditions over parts of the Pacific Northwest, leading to areas of dense
fog and poor air quality. Furthermore, there is a High Wind Watch over
parts of the Northern Rockies from Monday afternoon into Tuesday morning.

To get your local forecast plus active alerts and warnings click HERE and enter your city, state or zip code.

Learn about wave patterns HERE.

Then, looking at the world and of course, the U.S. shows here also. Today we are looking at precipitation.

Please click on “Read More” below to access the full Daily Report issued today.