Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: – Posted on January 4, 2025

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
Sat Jan 04 2025
Valid 12Z Sat Jan 04 2025 – 12Z Mon Jan 06 2025

…Heavy snow from the Central Plains to the Ohio Valley on Sunday; Heavy
lake-effect snow downwind from Lake Ontario on Saturday…

…Moderate to heavy snow from the Northern High Plains to the Central
Plains on Saturday; 0.25 inches of freezing rain over parts of the Middle
Mississippi/Ohio Valley on Sunday…

…There is an Enhanced Risk (level 2/5) of severe thunderstorms over
parts of the Lower Mississippi Valley on Sunday…

On Saturday, low pressure over the Southern High Plains will move eastward
to the Ohio Valley by Monday. The storm will create disruptive winter
weather from Saturday to Monday. The major winter storm will bring
significant disruptions to the Central Plains by late Saturday, spreading
to the Ohio Valley on Sunday. Severe travel delays are likely, with the
storm reaching the Mid-Atlantic by Sunday night into Monday. On Saturday,
the storm will produce moderate to heavy snow from the Northern High
Plains to the Central Plains.

Moreover, widespread heavy snow will accompany the storm. Heavy snowfall
is expected across areas from central Kansas to Ohio, especially along and
north of Interstate 70, with a 60-90% chance of at least 8 inches of snow
on Sunday. For some, this could be the heaviest snowfall in over a decade.
Additionally, moderate to heavy snow will develop over parts of the
northern Mid-Atlantic overnight Sunday into Monday.

In addition, blizzard conditions will develop over the Central Plains.
Wind gusts over 35 mph combined with heavy snow will create blizzard
conditions by Sunday morning. Whiteout conditions will make travel
extremely hazardous, with impassable roads and a high risk of motorists
becoming stranded.

Furthermore, significant icing/freezing rain for Middle Mississippi/Ohio
Valleys. Sleet and freezing rain are expected from eastern Kansas and the
Ozarks to the Ohio Valley. Dangerous travel is anticipated, with tree
damage and power outages likely in areas with over a quarter-inch of ice
accumulation. Overnight Sunday, the storm will produce additional icing in
the Central Appalachians.

On Sunday, as the front crosses the Southern Plains and moves into the
Lower Mississippi Valley, severe thunderstorms will develop over parts of
the Lower Mississippi Valley. Therefore, the SPC has issued an Enhanced
Risk (level 3/5) of severe thunderstorms over parts of the Lower
Mississippi Valley from Sunday through Monday morning. The hazards
associated with these thunderstorms are frequent lightning, severe
thunderstorm wind gusts, hail, and a few tornadoes.

Meanwhile, cold air moving over the Great Lakes and upper-level energy
over the Great Lakes and Northeast will create heavy lake-effect snow
downwind from Lake Ontario through Sunday morning. In addition, moderate
lake-effect snow will develop downwind from the Upper Great Lakes and Lake
Erie through Sunday morning. Furthermore, light upslope snow will develop
over parts of the Central Appalachians on Saturday. On Sunday, the
lake-effect snow will become light over most of the Lakes, while moderate
to heavy snow will continue downwind from Lake Ontario. Light to moderate
snow will develop over parts of the Northeast.

Furthermore, weak onshore flow and multiple weakening fronts move onshore
over the Northwest. The system will produce coastal rain and
higher-elevation snow over parts of the Pacific Northwest and Northern
California through Monday.

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.

03 JAN 2025 Market Close & Major Financial Headlines: Markets Opened Higher, Trended Higher, Closed Higher

EconCurrents is transitioning to Substack in 2025. The existing newsletter will be discontinued no later than 01March2025 . All newsletter subscribers need to sign up for the EconCurrents Substack’s Newsletter by [clicking here].

Summary Of the Markets Today:

  • The Dow closed up 340 points or 0.80%,
  • Nasdaq closed up 341 points or 1.77%,
  • S&P 500 closed up 74 points or 1.26%,
  • Gold $2,651 down $18.00 or 0.670%,
  • WTI crude oil settled at $74 up $0.86 or 1.18%,
  • 10-year U.S. Treasury 4.602 up 0.027 points or 0.590%,
  • USD index $108.92 down $0.48 or 0.44%,
  • Bitcoin $98,236 up $1,041 or 1.06%, (24 Hours),
  • Baker Hughes Rig Count: U.S. unchanged at 589 Canada -1 to 94
    U.S. Rig Count is unchanged from last week at 589 with oil rigs down 1 to 482, gas rigs up 1 to 103 and miscellaneous rigs unchanged at 4.

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

Today’s Highlights – Market Summary

US stocks rebounded on Friday, ending a five-day losing streak and closing the first week of 2025 on a positive note. Despite this rally, all three major indexes finished the holiday-shortened week with losses, with the S&P 500 and Dow dropping over 1% and the NASDAQ declining 2%. Tesla shares surged 8% after reporting record-high sales in China for 2024. Nvidia stock climbed more than 4%, continuing its strong performance. US Steel stock fell 5% after President Biden blocked Nippon Steel’s $14.9 billion takeover bid. The ISM Manufacturing PMI rose to 49.3% in December, showing a slight improvement in the manufacturing sector but still indicating contraction. In political news, Mike Johnson was reelected as House speaker after promising to work with Elon Musk’s “Department of Government Efficiency” (DOGE) to address government spending and reform. Despite Friday’s gains, the much-anticipated “Santa Claus” rally failed to materialize, potentially impacting market sentiment for January and the year ahead.


Click here to read our current Economic Forecast – January 2025 Economic Forecast: Little Change And Still Indicating a Weak Economy – One Recession Flag Removed


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

The Institute of Supply Management Manufacturing PMI® was 49.3% in November – 0.9 percentage points higher compared to November. The New Orders Index continued in expansion territory for the second month after seven months of contraction, strengthening to 52.5 percent, 2.1 percentage points higher than the 50.4 percent recorded in November. The December reading of the Production Index (50.3 percent) is 3.5 percentage points higher than November’s figure of 46.8 percent. The bottom line is that manufacturing continues in contraction according to this survey – although not by much.

Here is a summary of headlines we are reading today:

  • U.S. Drillers Start Out The New Year With A Whimper
  • EV Sales Rise as Trump Threatens to End Tax Credits
  • Moldova’s Breakaway Region Idles Industry Without Russian Gas
  • Uranium Spot Prices Set for Recovery in 2025
  • Middle East Crude Prices Surge as Supply From Iran and Russia Falls
  • Microsoft expects to spend $80 billion on AI-enabled data centers in fiscal 2025
  • S&P 500, Nasdaq snap five-day losing streak, but still close lower on the week: Live updates
  • GM, Ford report best annual U.S. sales since 2019
  • It’s time to boost 401(k) plan contributions for 2025 — here’s how much more you can save
  • ‘Over 800 Biases Uncovered’ As Pentagon Ends AI Chatbot Pilot Program For Military Medicine
  • Treasury yields end higher after ISM’s stronger-than-expected manufacturing data
  • Oil prices score weekly gains, buoyed by China policy support

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 on January 3, 2025

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 Jan 03 2025
Valid 12Z Fri Jan 03 2025 – 12Z Sun Jan 05 2025

…Heavy lake-effect snow downwind from Lakes Erie and Ontario; Moderate
to heavy lake-effect snow downwind from the Upper Great Lakes…

… Moderate to heavy snow or the Cascades, Sierra Nevada Mountains, and
the higher elevation of the West; 0.1 inches of freezing rain over parts
of the Central Plains/Middle Mississippi Valley on Saturday…

…Moderate to heavy rain over parts of Pacific Northwest and Northern
California on Friday…

Cold high pressure over the Plains will slowly move eastward to the
Southeast/Central Appalachians by Sunday. The cold air and upper-level
energy over the Great Lakes and Northeast will create heavy lake-effect
snow downwind from Lakes Erie and Ontario through Sunday. In addition,
moderate to heavy lake-effect snow will develop downwind from the Upper
Great Lakes through Sunday, too. Furthermore, moderate to heavy upslope
snow will develop over parts of the Central Appalachians on Friday.

Meanwhile, a front over the Eastern Pacific will move onshore over the
West Coast and move southeastward to the Southern Plains by Sunday.
Moisture associated with the system will produce moderate to heavy rain
over parts of the Pacific Northwest and Northern California on Friday.
Snow will develop over parts of the Cascades, Northern Intermountain
Region, and Northern Rockies. By early afternoon, the boundary will pass
the Northwest and California, rain will change over to snow over the
Southern Cascades into the Sierra Nevada Mountains through Saturday
morning.

A weakening front will move close to the Pacific Northwest Coast by late
Saturday morning and dissipate by Sunday. The system will bring more
coastal rain and higher�elevation snow over parts of the Pacific
Northwest and Northern California through Sunday.

Furthermore, by Saturday afternoon, the lead front will move to the
Southern High Plains and into the Southern Plains by Sunday. The storm
will produce significant wintry weather, with impacts over the Central
Plains by late Saturday and the Ohio and Tennessee Valleys on Sunday.
Additionally, the storm will create severe travel disruptions.

Moreover, areas in the Central Plains and Central Mississippi Valley,
especially along and north of Interstate 70, are likely to experience
heavy snowfall, with a high chance (60-90 percent) of at least 6 inches of
snow from late Saturday into Sunday. Significant sleet and freezing rain
are anticipated from eastern Kansas and the Ozarks extending eastward to
the Tennessee and lower Ohio Valleys, also on Saturday into Sunday.

Further, rain will develop over parts of the Southern Plains/Lower
Mississippi Valley overnight Saturday, and some areas of showers and
thunderstorms will develop by Sunday 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.

02 JAN 2025 Market Close & Major Financial Headlines: Markets Began Today’s Session On An Upbeat Note, But By Lunch-Time The Bottom Fell Out, Finally Closing After A feeble Attempt To Recover, Closing In The Red

EconCurrents is transitioning to Substack in 2025. The existing newsletter will be discontinued no later than 01March2025 . All newsletter subscribers need to sign up for the EconCurrents Substack’s Newsletter by [clicking here].

Summary Of the Markets Today:

  • The Dow closed down 152 points or 0.36%,
  • Nasdaq closed down 30 points or 0.16%,
  • S&P 500 closed down 13 points or 0.22%,
  • Gold $2,673 up $32.60 or 1.190%,
  • WTI crude oil settled at $73 up $1.35 or 1.88%,
  • 10-year U.S. Treasury 4.559 down 0.018 points or 0.039%,
  • USD index $109.27 up $0.78 or 0.72%,
  • Bitcoin $97,101 up $1,771 or 2.64%, (24 Hours),

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

Today’s Highlights – Market Summary

Stock markets experienced a volatile start to 2025, with major indexes erasing earlier gains and ending the first trading day lower. Tesla shares slumped nearly 6% after reporting lower vehicle deliveries. Apple dropped over 2.5% due to price discounts in China. The market came off a strong 2024, with the S&P 500 achieving two consecutive years of over 20% gains. The US Dollar Index rose above 109, reaching its highest level since November 2022. Investors are cautiously optimistic about 2025, with Bank of America suggesting potential for a 10% return in the next 12 months, though the extraordinary 20%+ annual returns of recent years may be behind us. The trading day reflected ongoing market uncertainty, with initial optimism giving way to declines, particularly in technology and electric vehicle stocks.


Click here to read our current Economic Forecast – January 2025 Economic Forecast: Little Change And Still Indicating a Weak Economy – One Recession Flag Removed


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

Construction spending during November 2024 is 3.0% above November 2023. Spending on private construction is up 2.5% year-over-year and public construction is up 4.6% year-over-year. Note in the graph below that for the last year, construction spending growth has been moderating. Construction spending has been a major bright spot in the economy – and that bright spot is becoming dim.

The Institute of Supply Management Manufacturing PMI® was 48.4% in November – 1.9 percentage points higher compared to 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. The November reading of the Production Index (46.8 percent) is 0.6 percentage point higher than October’s figure of 46.2 percent. The bottom line is that manufacturing continues in contraction according to this survey/

In the week ending December 28, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 223,250, a decrease of 3,500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 226,500 to 226,750.  This data is consistent with an expanding economy.

Here is a summary of headlines we are reading today:

  • What Next for US LNG After Ukraine Gas Transit Halts?
  • India’s Steel Industry Threatened by Record Chinese Imports
  • Dallas Survey: The Oil & Gas Outlook Is Finally Improving
  • Oil Rallies Despite Large Jump in Fuel Inventories
  • Tesla Stock Dips as Annual Deliveries See First Decline Since 2011
  • 89% of New Cars Sold in Norway Last Year Were EVs
  • Stocks close lower in volatile start to 2025 as S&P 500 losing streak grows: Live updates
  • Meta replaces Global Affairs President Nick Clegg with Joel Kaplan ahead of Trump inauguration
  • Warren Buffett’s Berkshire Hathaway beats S&P 500 in 2024, posts 9th straight up year
  • Regulatory clarity could drive bitcoin to $225,000 this year, says H.C. Wainwright
  • Mortgage demand dives nearly 22% to end 2024
  • Officials ID person who rented Cybertruck used in explosion outside of Las Vegas Trump hotel
  • Cryptocurrencies jump to start 2025, bitcoin rises back above $97,000
  • 10-year Treasury yield ends not far from 7-month high as new trading year begins

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 on January 2, 2025

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 Jan 02 2025
Valid 12Z Thu Jan 02 2025 – 12Z Sat Jan 04 2025

…Long duration lake-effect snow event continues downwind of the Great
Lakes…

…Periods of locally heavy coastal rains and higher elevation snow
continue for much of the northwestern U.S….

…Arctic air surges south from the Northern Plains through the Central
and Eastern U.S….

Strong northwesterly winds on the backside of a departing low pressure
system that is moving into the Canadian maritime will generate moderate to
heavy lake enhanced snow downwind of the Great Lakes over the next few
days. Anywhere between 6-12 inches of snow with isolated higher amounts
may accumulate downwind of the Lakes by Saturday morning. A low pressure
system tracking across the Central U.S. will produce a light swath of
snowfall from Iowa across the Ohio Valley today and into the Central
Appalachians on Friday. Snowfall accumulations of 6-12 inches are possible
over the Central Appalachians.

A series of low pressure systems will generate rain and high elevation
snow across much of the Northwest over the next couple of days. The
moisture plume associated with the first system will be directed at the
northern California coast and Oregon today, where an isolated threat of
Flash Flooding exists. Snow showers continue over the Northern/Central
Rockies. Rain and snow showers expand in coverage across the Northwest on
Friday. Accumulating snow is possible over the highest elevations of the
Cascades, Sierra and Northern Rockies. Heavy rainfall expands into the
upslope areas of the Sierra as the cold front pushes through.

High pressure builds over the Great Plains, sending frigid arctic air down
through the Central and Eastern U.S. through the weekend. Meanwhile, the
West and Southern Plains will experience above average temperatures. There
also continues to be an elevated fire weather threat over parts of
southern California today.

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.

NOAA Updates their Mid-Month Outlook for January 2025 – Major Changes for Temperature – Posted on January 1, 2025

At the end of every month, NOAA updates its Outlook for the following month which in this case is January of 2025. We are reporting on that tonight. In this article, I refer to January 2025 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 adjusted for the changes to the first month. So you get the full picture in three graphics.

Here is the updated Outlook for January 2025.

For Comparison Purposes, Here is the earlier Mid-Month Outlook for January, 2025

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 December 19, 2024November 21, 2024. Remember, it is the first set of maps that are the current outlook for January which is the new month.  One expects some changes  12 days later. However, the changes to the updated new month Outlook are very significant.  This then might give us some reason to question the (December 19, 2024) three-month JFM temperature and precipitation Outlooks which are shown in the following graphic. Or one might say that La Nina has arrived too late to be a big factor for January and the impact of the MJO is much more than originally forecast.  Thus the February and March Outlooks may still be valid.

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 February and March will be very different than January particularly with respect to temperature. You can subtract January from the three-month Outlook and divide by two to get a combined February/March Outlook.

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 January 1, 2025

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 31 2024
Valid 12Z Wed Jan 01 2025 – 12Z Fri Jan 03 2025

…Coastal storm to bring rain and snow showers to the Northeast New
Year’s Day…

…Warming trend for the western U.S. while the northern/eastern U.S.
experiences colder temperatures through the end of the work week…

…Long duration lake effect snow event expected to begin unfolding
tomorrow downwind of the Great Lakes…

An area of low pressure will move across the interior Northeast/Quebec
while a secondary low pressure system develops along the New England Coast
today. Colder temperatures will filter into the eastern U.S. behind a
trailing cold front which will allow for a changeover to snow for interior
portions of the Northeast on New Year’s Day as the surface low deepens and
slowly tracks northward into eastern Quebec. This storm will mark the
beginning of a pattern change for the lower 48 where colder air will sink
southward from central Canada into the northern Plains, eventually
sweeping eastward. From the northern to eastern U.S., temperatures will
fall each day with values approaching average for New England on Thursday
while below average temperatures stretch from northern Montana to the
Mid-Atlantic and Southeast coasts. The colder air flowing across the still
relative warmth of the Great Lakes will set up a favorable pattern for
lake effect snow showers, starting today, which should persist through the
end of the week. Snowfall accumulations are expected to be greatest for
locations east of Lake Ontario and Erie through Thursday evening with 6 to
12+ inches in the forecast, but additional snow is likely into the weekend
as well.

Across the West Coast, a series of Pacific fronts will track into northern
California, Oregon and Washington over the next couple of days and weaken
as they move inland. These systems will bring light, moderate and
occasionally heavy rain to the coast of northern California and Oregon
where 2 to 4 inches of rain is expected through Thursday evening. Lighter
rainfall is expected farther north into western Washington while
accumulating snow falls into the Northern/Central Rockies, with the
highest snowfall accumulations expected for there through Thursday (6-18
inches, depending on elevation).

In addition, an increase in fire weather concerns for parts of the
Transverse Ranges of southern California will exist today, with an
Elevated Risk for of the spreading of wildfires lingering in southern
California for New Year’s Day. Gusty winds and low relative humidities
will contribute to the risk. Regarding temperatures, many locations west
of the Rockies will experience a warming trend over the next few days as
an upper ridge begins to build across the Southwest.

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.

31 DEC 2024 Market Close & Major Financial Headlines: Last Day Of Trading For 2024 Shows Indices Down And Commodities Closing Up

EconCurrents is transitioning to Substack in 2025. The existing newsletter will be discontinued no later than 01March2025 . All newsletter subscribers need to sign up for the EconCurrents Substack’s Newsletter by [clicking here].

Summary Of the Markets Today:

  • The Dow closed down 29 points or 0.07%,
  • Nasdaq closed down 176 points or 0.90%,
  • S&P 500 closed down 25 points or 0.43%,
  • Gold $2,638 up $20.00 or 0.760%,
  • WTI crude oil settled at $72 up $0.08 or 1.13%,
  • 10-year U.S. Treasury 4.573 up 0.028 points or 0.616%,
  • USD index $108.44 up $0.31 or 0.29%,
  • Bitcoin $93,551 down $636 or 0.68%, (24 Hours),

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

Today’s Highlights – Market Summary

US stocks experienced a decline on Tuesday, December 31, 2024, as they wrapped up a year characterized by significant gains. Despite this dip, the S&P 500 is up approximately 23.8% for the year, the NASDAQ is up nearly 30%, and the Dow has gained around 13%. The year was marked by a strong performance driven largely by advancements in artificial intelligence and the so-called “Magnificent Seven” tech stocks. This rally occurred alongside a notable shift in monetary policy, with the Federal Reserve implementing its first interest rate cut in four years and investor optimism surrounding President-elect Donald Trump’s return to office. In commodities, gold has risen over 27% this year, marking its largest annual gain since 2010, while Bitcoin has surged over 100%, although it recently retreated from earlier highs. However, recent trading sessions have shown a slowdown, contrasting with the typical “Santa Claus” rally that often occurs at year-end.


Click here to read our current Economic Forecast – January 2025 Economic Forecast: Little Change And Still Indicating a Weak Economy – One Recession Flag Removed


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

The S&P CoreLogic Case-Shiller U.S. National Home Price 20-City Composite posted a year-over-year increase of 4.2% in October 2024, dropping from a 4.6% increase in the previous month. Home price growth continues to moderate across the U.S.  Brian D. Luke, CFA at S&P CoreLogic Case-Shiller perspective:

Our National Index hit its 17th consecutive all-time high, and only two markets – Tampa and Cleveland – fell during the past month. The annual returns continue to post positive inflation-adjusted returns but are falling well short of the annualized gains experienced this decade. Markets in Florida and Arizona are rising, but not keeping up with inflation, and are well off the over 10% gains annually from 2020 to present. This has allowed other markets to catch up. With the latest data covering the period prior to the election, our national index has shown continued improvement. Removing the political uncertainly risk has led to an equity market rally; it will be telling should the similar sentiment occur among homeowners.

Here is a summary of headlines we are reading today:

  • Gold Price Rally Set to Continue in 2025
  • The Factors That Will Drive Oil Prices in 2025
  • Red Sea Shipping Rebound Forecasted for Late 2025
  • Ukraine To Quadruple Gas Transport Fees After Russia Deal Expires
  • Europe Faces Coldest Winter Spell As Gas Supply Concerns Mount
  • U.S. Gasoline Prices Set for Lowest Annual Average Since 2021 Next Year
  • S&P 500 posts 23% gain for 2024 as stocks close slightly lower in final session of year
  • Silicon Valley’s turn of fortune: Intel has worst year ever, while Broadcom enjoys record gain
  • Nearly all of Puerto Rico is without power on New Year’s Eve
  • Grayscale’s Zach Pandl reveals how politics and the economy are driving bitcoin’s bull run
  • A New Year’s Resolution: Let’s Get The US Out Of The Censorship Business
  • Market Outlook For 2025: Stuck Between An Inflationary Rock And An Economic Hard Place
  • Instead of sipping Champagne on New Year’s Eve, it may be time to invest in it

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 31, 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 31 2024
Valid 12Z Tue Dec 31 2024 – 12Z Thu Jan 02 2025

…Cooling trend spreads from West to East this week….

…Fire Weather concerns for portions of southern California and Texas
through mid-week…

Systems moving by the northern Intermountain West bring the promise of
snowy periods in and near western Montana, Idaho, and Wyoming through
Wednesday. The first of those systems moves out into the Midwest, Ohio
Valley, and Northeast, bringing rain and thunderstorms near and to the
cyclone’s east, with thunderstorms most likely across portions of the
Eastern Shore and New Jersey on the afternoon and early evening of New
Year’s Eve. As the cyclone moves through the Northeast on Wednesday, both
Lake Effect and Lake Enhanced snows will spread through the Great Lakes
and into the northern and central Appalachians. Between 6-12 inches of
snow are forecast to accumulate downwind of the Lower Great Lakes by
Thursday morning. Some mixed precipitation is expected across central New
England.

A system arriving from the Great Plains will promote snow showers for the
broader Great Lakes region on Tuesday. A cooling trend started in the
West expands east through the rest of the country over the next couple of
days. Building high pressure across the Great Basin is expected to
increase winds across southern California over the next couple of days,
promoting an increased fire weather risk which could become critical
through mid-week. Wind advisories, a red flag warning, and a fire weather
watch have all been posted for the area as well for parts of south-central
Texas through Tuesday.

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.

30Dec2024 Market Close & Major Financial Headlines: Santa Claus Rally Fizzles – What Does It Bode For 2025?

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Summary Of the Markets Today:

  • The Dow closed down 418 points or 0.97%,
  • Nasdaq closed down 235 points or 1.19%,
  • S&P 500 closed down 64 points or 1.07%,
  • Gold $2,622 down $10.30 or 0.38%,
  • WTI crude oil settled at $71 up $0.53 or 0.76%,
  • 10-year U.S. Treasury 4.539 down 0.08 points or 1.732%,
  • USD index $108.07 up $0.07 or 0.07%,
  • Bitcoin $93,991 up $340 or 0.36%,

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

Today’s Highlights – Market Summary

Stocks experienced a decline on Monday as the major indexes continued to struggle in the final week of 2024. This downturn followed a previous week marked by significant losses in major tech stocks, including Tesla and Nvidia, which contributed to a Friday decline of 1.5% for the NASDAQ and over 1% for the S&P 500. The anticipated “Santa Claus” rally, historically a positive period for the stock market, has not materialized this year. Since December 24, the S&P 500 is down nearly 1%, contrasting with its typical average gain of 1.3% during this timeframe since 1950. With only two trading days left in the year, investors remain hopeful for a rebound, as the S&P 500 has seen a substantial increase of over 25% throughout 2024, while the NASDAQ has risen more than 30%. In other news, trading on January 9 will be closed in honor of former President Jimmy Carter, who passed away at age 100. Despite current market challenges, analysts maintain that the underlying fundamentals supporting this year’s market gains remain intact, suggesting potential buying opportunities in early 2025.


Click here to read our current Economic Forecast – January 2025 Economic Forecast: Little Change And Still Indicating a Weak Economy – One Recession Flag Removed


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

The Pending Home Sales Index (PHSI) grew 6.9% year-over-year. An index of 100 is equal to the level of contract activity in 2001. Will the growth in home sales be increasing? A year ago home sales where terrible – so growing year-over-year is not saying much. NAR Chief Economist Lawrence Yun added:

Consumers appeared to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory. Mortgage rates have averaged above 6% for the past 24 months. Buyers are no longer waiting for or expecting mortgage rates to fall substantially. Furthermore, buyers are in a better position to negotiate as the market shifts away from a seller’s market.

Dallas Fed Manufacturing activity increased in December with the production index rose to 3.9 from a near-zero reading last month. Other measures of manufacturing activity were mixed. The new orders index shot up 11 points to -0.9, suggesting demand was unchanged from November. The capacity utilization and shipments indexes both edged up but remained in negative territory, coming in at -2.5 and -2.0, respectively. Overall, this is a survey and based on opinion. Other regional surveys show contraction – and data shows manufacturing is in a recession in the U.S.

Here is a summary of headlines we are reading today:

  • Biden Administration’s Final Aid Package to Ukraine Aims to Bolster Defense
  • Carlos Slim Invested $1B In American Oil & Gas Companies In 2024
  • Ukraine To Quadruple Gas Transport Fees After Russia Deal Expires
  • Exxon and Chevron Expand Global Hiring Push
  • Europe Faces Coldest Winter Spell As Gas Supply Concerns Mount
  • U.S. Gasoline Prices Set for Lowest Annual Average Since 2021 Next Year
  • Turkey Says It’s Ready to Supply Electricity to Syria and Lebanon
  • Indian BPCL Boosts Middle East Oil Purchases as Russian Supply Dwindles
  • Oil Prices Flatline as 2024 Draws to a Close
  • Natural gas surges as much as 20% on expectations for colder-than-usual January on the East Coast
  • NYSE to close on Jan. 9 in honor of the late former President Jimmy Carter
  • Treasury yields dip as final trading week of 2024 kicks off
  • Biden’s Weaponized J6 Prosecutor Reportedly Resigns
  • Javier Blas: Prepare For A Turbulent 2025 In Coffee, Oil, & Other Commodity Markets
  • Government Spending Will Cause The Next Financial Crisis

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