21 Aug 2023 Market Close & Major Financial Headlines: Treasury Yields Show A 10-Year Rate Highest Since 2007, Nasdaq Rises For The First Time In Five Sessions, Dow Closes Down

Summary Of the Markets Today:

  • The Dow closed down 37 points or 0.11%,
  • Nasdaq closed up 1.56%,
  • S&P 500 closed up 0.69%,
  • Gold $1,924 up $7.20,
  • WTI crude oil settled at $81 down $0.44,
  • 10-year U.S. Treasury 4.340% up 0.089 points,
  • USD Index $103.33 down $0.050,
  • Bitcoin $26,096 down $38,

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


Click here to read our Economic Forecast for August 2023


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

No releases today.

Here is a summary of headlines we are reading today:

  • An Increasing Number Of Americans Want Nuclear Power
  • Ruble Plunge Sends Waves Across Central Asia’s Economies
  • Kinder Morgan Unit Declares Force Majeure At Tennessee Gas Pipeline
  • Russia Retains Position As China’s Top Oil Supplier
  • Nasdaq snaps 4-day losing streak, tech shares rise despite higher yields: Live updates
  • Mortgage rates hit their highest point since 2000
  • American workers are demanding almost $80,000 a year to take a new job
  • Tilray is buying beverage brands from Molson Coors, Anheuser-Busch as cannabis industry struggles
  • Altcoins slide to begin the week while bitcoin and ether stabilize
  • Treasury Yields Soar To 16 Year High As 30Y Mortgage Rates Near 21st Century High
  • The Fed: Jackson Hole meeting: When is Jerome Powell’s speech? What investors need to know.
  • Market Extra: Treasury yields are surging as investors see no likely return to historically low interest rates

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

Tonight, Tomorrow, Next Day, Five Days, and Intermediate-Term Outlooks for the U.S. and a Six-Day Forecast for the World: posted August 21, 2023

Here is what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term outlooks and a five-day World weather outlook.

We start with the U.S. Information. You can update this section here but these are 48 to 72-hour forecasts so if I have not been able to update this area twice daily, what is shown is still valid and the images in the body of the article update automatically but sometimes they are a bit slow to update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
407 PM EDT Mon Aug 21 2023

Valid 00Z Tue Aug 22 2023 – 00Z Thu Aug 24 2023

…There is a Slight of excessive rainfall over parts of the Western U. S.
on Monday and Tuesday and southern Texas on Tuesday…

…There are Air Quality Warnings over the parts of the Pacific Northwest,
Central Rockies, and Mid-Atlantic…

…Excessive Heat Warnings and Advisories from parts of the Plains, the
Mississippi Valley, and Central/Western Gulf Coast…

 

Tonight, Tomorrow, Next Day, Five Days, and Intermediate-Term Outlooks for the U.S. and a Six-Day Forecast for the World: posted August 20, 2023

Here is what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term outlooks and a five-day World weather outlook.

We start with the U.S. Information. You can update this section here but these are 48 to 72-hour forecasts so if I have not been able to update this area twice daily, what is shown is still valid and the images in the body of the article update automatically but sometimes they are a bit slow to update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
358 PM EDT Sun Aug 20 2023

Valid 00Z Mon Aug 21 2023 – 00Z Wed Aug 23 2023

…There is a Slight to High Risk of excessive rainfall over parts of
Southern California, the Great Basin, and the Northern Intermountain
Region…

…There is a Slight Risk of severe thunderstorms over parts of
Southeastern California…

…There are Air Quality Warnings over the parts of the Pacific Northwest
and Northern/Central Rockies…

…Excessive Heat Warnings and Advisories from parts of the Plains, the
Mississippi Valley, and Central/Western Gulf Coast…

 

[Image of WPC Flash Flooding/Excessive Rainfall Outlook]

Taking Another Look at the NOAA Seasonal Outlook – What about this Coming Winter? Published on August 19, 2023

On the third Thursday of the month right on schedule NOAA issued their updated Seasonal Outlook which I describe as their Four-Season Outlook because it extends a bit more than one year into the future.

Usually, we pay the most attention to the Mid-Month forecast for the next month which is September, the three-month Outlook for September through November and the Seasonal Drought Outlook.

Tonight I want to focus on the months beyond September through November 2023  In particular I want to focus on the winter months.

 NOAA is showing a warmer than normal Northern Tier and equal chances for the rest of CONUS other than Florida

 

 

 NOAA is showing a dry extreme Northern Tier and a mostly wet Southern Tier and the Southeast.   But what about the Colorado River Basin?  Pretty much a normal year?  What about New Mexico? If the Jet Stream is so far south that there will only be normal precipitation for Northern New Mexico and Colorado? That is not a good scenario for New Mexico.

 

Tonight, Tomorrow, Next Day, Five Days, and Intermediate-Term Outlooks for the U.S. and a Six-Day Forecast for the World: posted August 19, 2023

Here is what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term outlooks and a five-day World weather outlook.

We start with the U.S. Information. You can update this section here but these are 48 to 72-hour forecasts so if I have not been able to update this area twice daily, what is shown is still valid and the images in the body of the article update automatically but sometimes they are a bit slow to update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Sat Aug 19 2023

Valid 12Z Sat Aug 19 2023 – 12Z Mon Aug 21 2023

…Catastrophic and life-threatening flooding likely over portions of the
Southwest…

…Dangerous heat expanding over the central U.S…..

 

 

[Image of WPC Flash Flooding/Excessive Rainfall Outlook]

 

Ballroom Dancing vs. Writing for Publication

Ballroom Dancing vs. Writing for Publication

Everybody can dance, ballroom or otherwise, but few can dance like a pro. Likewise, everybody can write, but few can write well for publication. After all, there is only one JR Rowling in this world.

My new book “Dancing Queens & Kings” strives to be the best in class, which requires that all participants strive to become JR-like, but only for 8 pages!

18 Aug 2023 Market Close & Major Financial Headlines: Markets Opened significantly Down, Session Saw Mostly Trading Along The Unchanged Line And Closing Mixed

Summary Of the Markets Today:

  • The Dow closed up 26 points or 0.07%,
  • Nasdaq closed down 0.20%,
  • S&P 500 closed down 0.01%,
  • Gold $1,919 up $3.40,
  • WTI crude oil settled at $81 up $0.89,
  • 10-year U.S. Treasury 4.247% down 0.061 points,
  • USD Index $103.42 down $0.150,
  • Bitcoin $26,082 down $1,779,
  • Baker Hughes Rig Count: U.S. -12 to 642 Canada -1 to 189

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


Click here to read our Economic Forecast for August 2023


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

No releases today.

Here is a summary of headlines we are reading today:

  • Rig Count Decline Accelerates Amid Rising U.S. Crude Oil Production
  • Bitcoin Crashes Amid A Wave Of Bearish News
  • LNG Tanker Prices Soar Earlier Than Usual Ahead Of Winter
  • China’s Oil Giant CNOOC Sees Profits Drop 11% On Lower Prices
  • China’s Economic Woes Hurt Diesel Demand
  • Nasdaq falls a fourth day in a row, notches longest weekly losing streak since December: Live updates
  • Bitcoin fell through a key level and is giving a bearish signal. Here’s what chart analysts say happens next
  • Automakers are finally embracing lidar sensors. A few startups look like market-share winners
  • ChatGPT ‘Politically Biased Toward Left’ In The US & Beyond: New Research Finds
  • Crypto: Bitcoin’s tumble: Here’s what may have sparked selloff — and why it may spell trouble for other assets

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

NOAA Updates its Four Season Outlook on August 17, 2023

On the third Thursday of the month right on schedule NOAA issued their updated Seasonal Outlook which I describe as their Four-Season Outlook because it extends a bit more than one year into the future. The information released also included the Mid-Month Outlook for the following month plus the weather and drought outlook for the next three months.  I present the information issued by NOAA and try to add context to it. It is quite a challenge for NOAA to address the subsequent month, the subsequent three-month period as well as the twelve successive three-month periods for a year or a bit more. A seasonal drought outlook is also issued.

Take a look at September and the three-month period that includes September. The first row in this graphic is the Mid-Month forecast for September. The bottom row shows the outlook for the next three months including September.

The full NOAA Seasonal Outlook extends through August/September/October of 2024. All the maps are in the body of the article.

NOAA provides an excellent discussion to support the maps and the changes (which are minimal) from what was issued a month ago.  It is best to read the full discussion but here are some of the highlights:

Re ENSO:

  • The median North American Multi-Model Ensemble (NMME) consolidation forecast exceeds +1.5 degrees C at its peak in late autumn and early winter before decreasing at longer leads with greater uncertainty.
  • The CPC consensus ENSO outlook indicates greater than a 90 percent chance that El Niño will continue through winter, with greater than a 60 percent chance that the strength of the Niño 3.4 anomaly will exceed +1.5 degrees C at its peak.

[Editor’s Note: How do we define the strength of El Nino? It is very informal but over 1.0 is considered moderate versus weak, over 1.5 is considered strong and over 2.0 is considered very strong.) It is a logical approach since the warmer the temperature anomaly the more we expect the Walker Circulation to be impacted. But it does not work out that way in all cases for all areas and some think the rate of change of the Nino 3.4 reading is also very important]

For September:

  • Above normal temperatures are favored for most of the western CONUS, consistent with anomalous ridging.
  • The strongest probabilities (greater than 50 percent) of above-normal temperatures are indicated near the Four Corners region.
  • However, probabilities of warmer than normal conditions are tempered across much of the northwestern CONUS for the weeks 3-4 period, which includes most of the first half of September. [Editors’ Note: Remember this Outlook was issued on August 17 so three to four weeks from then is early September]
  • Farther to the south and east, enhanced above-normal temperature probabilities are indicated across the Southern Plains, Lower Mississippi Valley, and parts of the Southeast.
  • Equal chances (EC) of above, near, and below normal temperatures are indicated for the remainder of the eastern CONUS.
  • Above-normal temperatures are favored for southern, eastern, and northern Alaska.
  • Above-normal precipitation is favored across the Southeast northward to the Mid-Atlantic and westward to parts of the Tennessee and Ohio Valleys
  • Conversely, below-normal precipitation is favored farther to the north and west for the western Great Lakes and Upper Mississippi Valley
  • Latest weeks 3-4 guidance from the ECMWF and GEFS depict a wet signal across the Baja Peninsula and the Gulf of California, suggestive of potential tropical cyclone (TC) activity. This potential TC activity leads to a slight tilt toward above-normal precipitation for parts of the southwestern CONUS.
  • Farther to the north, above-normal precipitation is favored for western Alaska
  • A weak tilt toward below-normal precipitation is indicated for Southeast Alaska due to weeks 3-4 guidance

For SON 2023

  • Above-normal temperatures are favored across Alaska and the western CONUS in the SON and OND 2024 temperature outlooks.
  • The greatest probabilities exceed 50 percent for northern Alaska and parts of the Southwest, due to decadal trends.
  • Above-normal temperatures are also favored eastward across the southern Contiguous United States (CONUS) into the Southeast and northward through the eastern CONUS into the eastern Great Lakes region, consistent with the consolidation of tools.
  • Decadal trends lead to higher probabilities of above-normal temperatures over the Northeast.
  • Potential El Niño impacts for the SON and OND seasons include cooler temperatures over much of the central CONUS, leading to weaker probabilities for above-normal temperatures
  • During SON 2023, above-normal precipitation is favored for western and northern Alaska and the southeastern CONUS,
  • Below-normal precipitation is favored for the Pacific Northwest, a small area of the Southwest, and the western Great Lakes region.
  • Enhanced probabilities of above-normal precipitation for parts of Alaska are supported by dynamical and statistical tools.
  • Below-normal precipitation for the Pacific Northwest and Great Lakes and above-normal precipitation for the Southeast are consistent with El Niño impacts, and largely persist through the next several leads.
  • Below-normal precipitation for parts of the Southwest in the SON season is consistent with the persistence of a weaker-than-normal Southwest monsoon, while the outlook for the month of September favors above-normal precipitation in areas of southern California, Nevada and Arizona to the west due to shorter-term moisture flow from the East Pacific.

Beyond SON 2023:

  • From the NDJ 2023-24 to the FMA 2024 seasons, as the leads extend through autumn into winter, increasing probabilities of above-normal temperatures are forecast from the Pacific Northwest across the northern tier of the CONUS into the Midwest and Northeast, consistent with increasing impacts of a strengthening El Niño.
  • Equal chances of above, near, and below normal temperatures (EC) is forecast across the southern tier of the CONUS with a tendency towards cooler temperatures arising from El Niño impacts.
  • For MAM 2024 and longer leads through SON 2024, the outlooks relied heavily on the ENSO-OCN tool, and decadal trends provide most of the available climate signals.
  • The seasonal temperature outlooks evolve toward a similar pattern at the longest leads (MAM 2024 through SON 2024), and the forecasts generally depict a u-shaped pattern of enhanced probabilities of above-normal temperatures over the CONUS, and EC in the northern central CONUS into the central Mississippi valley.
  • Below-normal precipitation is forecast across much of the northern tier of the CONUS from parts of the Pacific Northwest to the Great Lakes region from NDJ 2023-24 to FMA 2024, due to the expected strengthening El Niño.
  • The enhanced probabilities of above-normal precipitation for the Southeast increase and extend westward incrementally across the Southern Plains into the Southwest for these leads, also consistent with a strengthening El Niño.
  • For the MAM 2024 season and longer leads, areas of above- and below-normal precipitation coincide with signals due to decadal trends, including enhanced probabilities for below-normal precipitation in areas of the northwestern CONUS and enhanced probabilities for above-normal precipitation in the lower Mississippi Valley and Mid-Atlantic region.

Tonight, Tomorrow, Next Day, Five Days, and Intermediate-Term Outlooks for the U.S. and a Six-Day Forecast for the World: posted August 18, 2023

Here is what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term outlooks and a five-day World weather outlook.

We start with the U.S. Information. You can update this section here but these are 48 to 72-hour forecasts so if I have not been able to update this area twice daily, what is shown is still valid and the images in the body of the article update automatically but sometimes they are a bit slow to update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Fri Aug 18 2023
Valid 12Z Fri Aug 18 2023 – 12Z Sun Aug 20 2023

…Heavy rainfall and flash flooding becoming more likely over parts of
the Southwest…

…Critical fire conditions expected from the Northwest to the northern
High Plains today…

…Dangerous heat redeveloping over the central U.S…..