Tonight, Tomorrow, Next Day, Five Days, and Intermediate-Term Outlooks for the U.S. and a Six-Day Forecast for the World: posted July 11, 2023

July 11, 2023Posted inweatherNo Comments

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 forecast.

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.

The color coding is as follows.   severe,  wet, cold,  warm, normal

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Tue Jul 11 2023

Valid 12Z Tue Jul 11 2023 – 12Z Thu Jul 13 2023

…Additional rounds of severe weather and flash flooding persist across
the Plains and Midwest over the next few days…

…Anomalously hot Summer weather forecast throughout much of the Southern
Tier…

…Near average temperatures and generally tranquil conditions for the
Northeast and portions of the West…

10 July 2023 Market Close & Major Financial Headlines: Wall Street Market’s Opened Higher, Traded Sideways, Closed Moderately Higher

July 10, 2023Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed up 210 points or 0.62%,
  • Nasdaq closed up 0.18%,
  • S&P 500 closed up 0.24%,
  • Gold $1,931 down $1.30,
  • WTI crude oil settled at $73 down $0.64,
  • 10-year U.S. Treasury 4.006% down 0.042 points,
  • USD Index $101.97 down $0.31,
  • Bitcoin $30,926 up $683,

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

Click here to read our Economic Forecast for July 2023

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

May 2023 sales of merchant wholesalers were down 4.0% from the revised May 2022 level. Total inventories of merchant wholesalers were up 3.7% from the revised May 2022 level. The May inventories/sales ratio for merchant wholesalers was 1.41 – the May 2022 ratio was 1.30. Overall, it seems sales are worsening in this sector. It is hard to see the overall economic situation just looking at wholesale sales as there is a myriad of dynamic forces at play – and many are not economic such as supply chain changes.

Here is a summary of headlines we are reading today:

  • China’s Metal Export Restrictions Leave Traders Scrambling
  • UAE Will Not Make Voluntary Oil Production Cuts
  • Norway Makes Biggest Hydrocarbon Discovery In 10 Years
  • Iraq Inks Long-Awaited $27 Billion Energy Deal With TotalEnergies
  • The American banking landscape is on the cusp of a seismic shift. Expect more pain to come
  • Home prices are hitting new highs again, as high rates put the squeeze on supply
  • Dow closes 200 points higher Monday to snap 3-day losing streak: Live updates
  • Bonds Bid As Hawkish ‘High(er) For Long(er)’ FedSpeak Spooks Growth Stocks
  • Bond Report: 2-year Treasury yield slips to almost two-week low ahead of Wednesday’s CPI data

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 July 10, 2023

July 10, 2023Posted inweatherNo Comments

Updated Monday Afternoon July 10, 2023: Notice the warning for Vermont and nearby areas.

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 forecast.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
241 PM EDT Mon Jul 10 2023

Valid 00Z Tue Jul 11 2023 – 00Z Thu Jul 13 2023

…Significant to catastrophic flooding is expected to continue across
much of Vermont and nearby sections of New England through tonight…

…Additional rounds of severe weather and flash flooding concerns persist
across the Central/Southern Plains and Midwest over the next few days…

…Anomalously hot weather forecast throughout much of the Southern Tier
into midweek…

Tonight, Tomorrow, Next Day, Five Days, and Intermediate-Term Outlooks for the U.S. and a Six-Day Forecast for the World: posted July 9, 2023

July 9, 2023Posted inweatherNo Comments

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 forecast.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
359 PM EDT Sun Jul 09 2023

Valid 00Z Mon Jul 10 2023 – 00Z Wed Jul 12 2023

…Heavy rain is likely to produce the potential for significant flash
flooding throughout parts of the Northeast tonight and into New England on
Monday…

…Additional rounds of severe weather and flash flooding persist across
the Central/Southern Plains and Lower Mississippi Valley…

…Anomalously hot weather continues for portions of the Florida
Peninsula, Texas, and the Southwest…

Crop Report July 8. 2023 – Crop Condition Stabilizes.

July 8, 2023Posted inagriculture, weatherNo Comments

Now Final.  Sorry for the delay. It was 90% complete when published last night but I wanted to take the time to adjust the commentary and swap out two graphics.

This article is based primarily on the July 5, 2023, 2023, USDA Crop Bulletin which covers the June 25 to July 2 period of time. The USDA report usually becomes available on Tuesdays but due to the Fourth of July Holiday, it was published on Wednesday. For some reason, I forgot to publish my article Wednesday night and I remembered to do that on Friday

It now seems more like an average crop but it has not gotten worse which is a relief. Both corn and soybeans had a very good start but the quality of the crop has been somewhat compromised by drought. Soybeans are doing a bit better than corn. The condition report was about the same this week which is good given the weather. The weather outlooks are mostly favorable.

We also include the recent report on peanut prices. I vary these reports to give readers information on different crops.

The article includes a short international review of agricultural conditions.

We begin with the National Agriculture Summary.  The Tables below the summary have additional data. The boxes with my comments may be incomplete so for crops of interest check the data out yourself to be sure.

Tonight, Tomorrow, Next Day, Five Days, and Intermediate-Term Outlooks for the U.S. and a Six-Day Forecast for the World: posted July 8, 2023

July 8, 2023Posted inweatherNo Comments

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 forecast.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
310 PM EDT Sat Jul 08 2023

Valid 00Z Sun Jul 09 2023 – 00Z Tue Jul 11 2023

…Heavy rain and instances of flash flooding likely across parts of the
Northeast on Sunday, with the threat lingering across New England on
Monday…

…Additional rounds of severe weather and flash flooding persist across
the Central/Southern Plains and Lower Mississippi Valley through this
weekend…

…Anomalously hot weather continues for portions of the Southwest, West
Texas, interior Pacific Northwest, and Florida Peninsula…

07 July 2023 Market Close & Major Financial Headlines: Wall Street Markets Went From Moderately Higher To Sharply Lower At Session Close

July 7, 2023Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 187 points or 0.55%,
  • Nasdaq closed down 0.13%,
  • S&P 500 closed down 0.29%,
  • Gold $1,931 up $15.80,
  • WTI crude oil settled at $74 up $1.89,
  • 10-year U.S. Treasury 4.058% up 0.017 points,
  • USD Index $102.28 down $0.89,
  • Bitcoin $30,231 down $110,
  • Baker Hughes Rig Count: U.S. +6 to 680 Canada +8 to 175

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

Click here to read our Economic Forecast for July 2023

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

Total nonfarm payroll employment increased by 209,000 in June 2023, and the unemployment rate changed little at 3.6% percent. Employment continued to trend up in government, health care, social assistance, and construction. There was a reasonable correlation with the 209,000 in the establishment survey as the household survey showed employment growth of 273,000. I consider this report reasonably good with employment growth continuing to grow faster than population growth. Employment continues to be the star of this economic cycle.

Here is a summary of headlines we are reading today:

  • China’s Steel Titans Brace For Tough Times
  • U.S. Drillers Add Gas Rigs As Oil Rig Count Slips Further
  • Oil Prices Remain Capped By Economic Concerns
  • Saudi Arabia’s Latest Oil Price Hike Has Sapped Buyer Appetite
  • Stocks tumble on Friday, notching weekly losses, as traders’ rate hike fears return: Live updates
  • Here’s where the jobs are for June 2023 — in one chart
  • House prices fall at fastest rate in 12 years, says Halifax
  • US jobs growth weakest in more than two years

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 July 7, 2023

July 7, 2023Posted inweatherNo Comments

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 forecast.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
313 PM EDT Fri Jul 07 2023

Valid 00Z Sat Jul 08 2023 – 00Z Mon Jul 10 2023

…Locally heavy rainfall and flash flooding possible across the Northeast
through tonight, with another bout of intense rainfall likely on Sunday…

…Additional rounds of severe weather and flash flooding persist across
the Central and Southern Plains through this weekend as the threat
gradually slides eastward into the Tennessee and Lower Mississippi
Valley…

…Hot weather continues for portions of the Southwest, West Texas,
interior Pacific Northwest, and Florida Peninsula…

06 July 2023 Market Close & Major Financial Headlines: No Joy Today As Wall Street Opened Sharply Down in The Red With The Dow Off 1 Percent At The Close

July 6, 2023Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 366 points or 1.07%,
  • Nasdaq closed down 0.82%,
  • S&P 500 closed down 0.79%,
  • Gold $1,917 down $10.40,
  • WTI crude oil settled at $72 up $0.09,
  • 10-year U.S. Treasury 4.043% up 0.098 points,
  • USD Index $103.13 down $0.24,
  • Bitcoin $30,312 down $123,

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

Click here to read our Economic Forecast for July 2023

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

ADP says private employers created 497,000 jobs in June 2023 and annual pay was up 6.4% year-over-year. Leisure/hospitality, construction, and trade/transportation made up the majority of the gains. Employment shows no signs of an approaching recession.

The U.S. monthly international trade deficit decreased in May 2023 as imports declined 0.9% year-over-year whilst exports rose 7.0% year-over-year. The import data suggests slowing economic growth as imports have been slowing for the last year.

The number of job openings decreased to 9.8 million on the last business day of May 2023. Job openings have been in a downtrend for over one year – but they remain historically high which suggests a strong employment market.

According to Challenger, U.S.-based employers announced 40,709 job cuts in June 2023, down 49% from the 80,089 cuts announced in May. It is up 25% from the 32,517 announced in the same month one year prior.

In the week ending July 1, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 253,250, a decrease of 3,500 from the previous week’s revised average. The previous week’s average was revised down by 750 from 257,500 to 256,750.

In June 2023, the ISM Services PMI® registered 53.9 percent, 3.6 percentage points higher than May’s reading of 50.3 percent. The Business Activity Index registered 59.2 percent, a 7.7-percentage point increase compared to the reading of 51.5 percent in May. Readings between 50 and 55 suggest a sluggish economy.

Seasonally adjusted, a net 36% of owners reported raising compensation in June, down five points from May and the lowest since May 2021. A net 22% of owners plan to raise compensation in the next three months, according to NFIB’s monthly jobs report. NFIB Chief Economist Bill Dunkelberg stated:

The labor force participation rate remains below pre-COVID levels, which is contributing to the tight labor market seen on Main Street. With labor demand remaining strong, owners will have to continue raising compensation to compete and fill their open positions, although that pressure is easing a bit.

Here is a summary of headlines we are reading today:

  • Libya’s Oil Revenues Sink To $6.95 Billion In H1 2023
  • EU Could Use Newly Launched Gas Cartel To Purchase Hydrogen
  • MIT’s Groundbreaking Discovery In The Intriguing World Of Superconductivity
  • Oil Prices Stabilize After Small Crude Draw
  • Dow closes more than 300 points lower as hot jobs data raises fears of Fed rate hikes: Live updates
  • Mark Zuckerberg’s Twitter rival passed 30 million signups overnight — here’s how to use Meta’s Threads app and what’s missing
  • Mortgage rate soars to 7.22% after strong economic data
  • Private sector companies added 497,000 jobs in June, more than double expectations, ADP says
  • Job openings fall by half a million
  • Bitcoin touches 13-month high, and Valkyrie refiles for spot bitcoin ETF: CNBC Crypto World
  • Market Snapshot: Dow slides 350 points as jobs data triggers jump in bond yields

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