Today Through the Fourth Friday (22 to 28 days) Weather Outlook for the U.S. and a Six-Day Forecast for the World: posted September 13, 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 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 Sep 13 2024
Valid 12Z Fri Sep 13 2024 – 12Z Sun Sep 15 2024

…Francine will continue to weaken while bringing a heavy rain and flash
flood threat to the Southeast over the next couple days…

…Above average temperatures will develop across the Central U.S. and
Northeast while below normal temperatures persist in the Southeast and
West…

Francine will continue to weaken today as its low pressure center meanders
east across northern Arkansas. A stationary boundary extending from the
occluded system will remain parked across the Southeast and provide a
focus for showers and thunderstorms through Saturday. The storm’s slow
motion will result in multiple days of heavy rain for the Southeast, which
will create a flash flooding risk. There is a Slight Risk of Excessive
Rainfall (level 2/4) today from western Tennessee through northern and
central Alabama to central/southern Georgia, with an embedded Moderate
Risk (level 3/4) for portions of northern and central Alabama. Flooding
will be most likely in urban and poor drainage areas and areas that
receive training/repeat convection, and locally considerable flash
flooding may be possible, especially where soils are already saturated
from previous rainfall. The flash flood threat will continue for these
areas on Saturday with another Slight Risk (level 2/4). Flood Watches are
in effect for much of the risk area. If you encounter flooding, turn
around, don’t drown. It is never safe to walk or drive into flood waters,
and most flood fatalities occur in vehicles. Isolated severe thunderstorms
will also be possible for parts of the Southeast today where the Storm
Prediction Center has issues a Marginal Risk of Severe Thunderstorms
(level 1/5). Severe storm hazards may include a few tornadoes or severe
wind gusts.

The flash flood and severe weather threats associated with Francine will
gradually decease through the weekend, and the remnants will begin moving
south Saturday night and stall along the Gulf Coast on Sunday. Another
area of low pressure is forecast to form along the stalled frontal
boundary off the Southeast Coast, which will create stormy weather from
Florida through the eastern Carolinas through this weekend into early next
week.

In the north, an occluded low pressure system north of Montana will push
further into Canada today and Saturday and will bring a weak cold front
across the northern and central Plains. Precipitation will linger on the
backside of the low in the northern Rockies and northern High Plains this
morning, and cold air will allow for snow and mixed wintry precipitation
at higher elevations. Shower and thunderstorm chances will accompany the
weak cold front through Saturday. Strong high pressure over the Northeast
will prevent the front from making significant eastward progress, and the
front will weaken and dissipate on Sunday.

In the West, a stronger Pacific frontal system will approach the coast
later today and move inland over the weekend. Precipitation chances will
begin in the Northwest late tonight/early Saturday and spread across the
Great Basin and northern California Sunday into Monday. Precipitation
chances will also increase across portions of the Southwest on Sunday as
tropical moisture from Ileana spreads north.

Temperatures will be on the rise this weekend across the Central U.S. and
Northeast, with high temperatures forecast to reach values as high as
10-15 degrees above normal for this time of year. Highs in the 80s and 90s
will be common for the Plains, Upper Midwest/Great Lakes, and Northeast.
Precipitation and cloud cover from Francine will keep temperatures below
average for much of the Southeast. Temperatures across much of the West
will be near to slightly below average through Saturday. On Sunday, the
Pacific frontal system will usher in cooler, unsettled weather, and
temperatures will drop to well below normal along the West Coast.

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.

12 SEPT 2024 Market Close & Major Financial Headlines: Wall Street Market’s Began Today’s Session Fractionally Lower, But Trended Upwards Closing Moderately Higher In The Green

Summary Of the Markets Today:

  • The Dow closed up 235 points or 0.58%,
  • Nasdaq closed up 1.00%,
  • S&P 500 closed up 0.75%,
  • Gold $2,586 up $43.80,
  • WTI crude oil settled at $69 up $1.92,
  • 10-year U.S. Treasury 3.687 up 0.034 points,
  • USD index $101.28 down $0.40,
  • Bitcoin $57,730 up $126 or 0.22%,

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

Today’s Highlights

[Publisher note: This section highlights what the markets’ believe – and much of it is opinion and may be contradicted by our review of market releases.] U.S. stocks rose on Thursday as investors processed new inflation and labor data ahead of the Federal Reserve’s upcoming interest rate decision. The August Producer Price Index (PPI) data released on Thursday indicated easing inflationary pressures. Additionally, initial jobless claims climbed more than anticipated, reaching 230,000 last week, an increase of 2,000 from the previous week. These reports led traders to increase their odds of a 25 basis point rate cut to 87%, up from 50% just days earlier. The market’s reaction suggests that investors are now leaning towards expectations of a smaller, quarter-point interest rate cut from the Federal Reserve next week, rather than a larger half-point reduction. This shift in sentiment follows the release of consumer price data on Wednesday, which showed gradual cooling of inflation. In the corporate sector, Moderna’s shares fell by 12% after the company lowered its annual revenue outlook for 2025 and announced plans to reduce its research and development budget. Meanwhile, tech stocks led the market gains, with companies like Nvidia and Meta each rising by approximately 2%.


Click here to read our current Economic Forecast – September 2024 Economic Forecast: One Recession Flag Removed With Three Remaining


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

In the week ending September 7, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 230,750, an increase of 500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 230,000 to 230,250.

According to CoreLogic, home prices nationwide, including distressed sales, increased year over year by 4.3% in July 2024. The CoreLogic HPI Forecast indicates that home prices will rise by 2.2% on a year-over-year basis from July 2024 to July 2025.

CoreLogic’s Homeowner Equity Report (HER) for the second quarter of 2024 shows that U.S. homeowners with mortgages (which account for roughly 62% of all properties) saw home equity increase by 8.0% year over year.

The Producer Price Index for final demand increased  1.7% for the 12 months ended in August 2024 (down from 2.1% for the previous month). What is going on is that the prices for oil have decreased significantly year-over-year which is evident when one removes food, energy, and trade – which shows the year-over-year inflation rate has remained steady around 3.3% year-over-year. The Federal Reserve generally removes food and energy when they look at inflation pressures – and the current situation shows inflation pressures are not subsiding but remaining steady.

 

Here is a summary of headlines we are reading today:

  • How Falling Oil Prices Could Save The Economy
  • Nippon Steel’s Investment Could Revitalize U.S. Steel Industry
  • Why Goldman Sachs is Still Bearish on Lithium
  • Florida LNG Export Project Delayed Five Years Due to Supply Chain Issues
  • Europe’s LNG Ambitions Face Reality Check
  • U.S. Gasoline Prices Set to Drop Below $3 Before Election Day
  • Here’s the deflation breakdown for August 2024 — in one chart
  • Dow closes 200 points higher, S&P 500 posts four-day win streak as tech giants rally: Live updates
  • Interest payments on the national debt top $1 trillion as deficit swells
  • New high yield funds are hitting the market as Fed prepares to cut interest rates
  • Trump rejects second Harris debate
  • “We’re Just Giving Them Away”: EV Leases Have Plunged To As Low As $20 Per Month
  • National debt forecast to treble over next 50 years
  • Sell signs are all over the stock market now — but the bulls are holding out
  • 30-year Treasury yield finishes just below 4% after soft bond auction

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

Today Through the Fourth Friday (22 to 28 days) Weather Outlook for the U.S. and a Six-Day Forecast for the World: posted September 12, 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 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 Sep 12 2024
Valid 12Z Thu Sep 12 2024 – 12Z Sat Sep 14 2024

…Heavy rainfall from Francine will spread into the Mid-South, Tennessee
Valley, and Southeast today while the severe weather threat shifts east
into Alabama and the Florida Panhandle…

…A round of moderate to heavy rain and strong thunderstorms with move
across the northern High Plains with high-elevation snow in the northern
Rockies…

…Elevated to critical fire weather concerns extend across much of the
High Plains and into portions of the central Great Basin…

Tropical Storm Francine continues to weaken and lift north early this
morning into southern Mississippi at the same time spreading gusty winds
and heavy rain across the region. The system is forecast to lose remaining
tropical characteristics later today as it pushes northward into the
Mid-South and connects with nearby frontal boundaries, while still
producing areas of locally heavy rain and chances for severe
thunderstorms. Tornadoes will be the main severe weather hazard through
tonight, potentially impacting parts of Alabama and the Florida Panhandle
along a slow-moving warm front. The Storm Prediction Center has issued a
Slight Risk (level 2/5) of severe weather for this region. The greatest
threat for considerable flash flooding exists across parts of northern and
central Alabama, where a slow-moving line of showers and thunderstorms
capable of containing intense rainfall rates could linger for several
hours and produce localized totals up to 10 inches. Heavy rain is also
possible from northeast Arkansas through the Tennessee Valley and into the
Florida Panhandle today. Looking ahead to the start of the weekend,
showers and localized torrential downpours will remain possible throughout
much of the Southeast as lingering tropical moisture and stationary
frontal boundaries stay draped across the region. Residents are advised to
have multiple ways of receiving warnings and never drive across flooded
roadways.

A potent storm system is also impacting parts of the West and High Plains
as an area of low pressure organizes in eastern Montana today. Areas of
heavy rain and severe weather are possible across the state. Gusty winds
and large hail associated with thunderstorms are most likely to impact
eastern Montana and far western North Dakota through tonight, with heavy
rain a potential weather hazard in central/western Montana. Additionally,
cool temperatures in the high elevations of the northern Rockies could
lead to early-season mountain snowfall for western Montana and the greater
Yellowstone National Park area. The other aspect of this system will
correspond with strong southerly winds throughout the High Plains. Wind
gusts up to 50 mph are possible, which could result in a few power
outages. These strong winds will also increase the fire weather threat
across the region as dry vegetation and low relative humidity create a
ripe environment for erratic fire behavior. Red Flag Warnings and/or Wind
Advisories span from southern Utah to North Dakota.

Elsewhere, high pressure will keep much of the Great Lakes and Northeast
dry as high temperatures increased into the 80s through the beginning of
this weekend. Warm and dry weather will also be found throughout the
Desert Southwest and southern Plains, with high temperatures into the
mid-to-upper 90s. Conversely, below average temperatures in the wake of a
cold front will be felt across much of the West to end the week.

cone graphic

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.

11 SEPT 2024 Market Close & Major Financial Headlines: Markets Battled Core Inflation Numbers After Opening Deep Into The Red For The Small Caps To Finally Close Strongly Higher In The Green

Summary Of the Markets Today:

  • The Dow closed up 125 points or 0.31%,
  • Nasdaq closed up 2.17%,
  • S&P 500 closed up 1.07%,
  • Gold $2,541 up $2.00,
  • WTI crude oil settled at $67 up $1.40,
  • 10-year U.S. Treasury 3.661 up 0.017 points,
  • USD index $101.72 up $0.09,
  • Bitcoin $57,647 up $70 or 0.12%,

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

Today’s Highlights

The U.S. stock market closed higher on Wednesday after initially falling, as investors processed the August inflation report and the first presidential debate between Donald Trump and Kamala Harris. Nvidia led the tech rally, with shares surging over 8% Inflation. Inflation fell to a more than three-year low. Core inflation (excluding food and gas) rose 0.3% month-over-month, higher than the expected 0.2% The higher core inflation reading reduced expectations for a larger Fed rate cut. Odds of a 50 basis point rate cut at the next Fed meeting dropped to 15%, down from 44% a week ago. Markets now favor a smaller 25 basis point cut. Investors analyzed the Trump-Harris presidential debate, which provided limited detail on market-moving economic issues. GameStop shares fell almost 12% after missing quarterly revenue expectations. Oil prices rebounded from three-year lows, with WTI and Brent crude both rising about 2%.


Click here to read our current Economic Forecast – September 2024 Economic Forecast: One Recession Flag Removed With Three Remaining


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

The Consumer Price Index for All Urban Consumers (CPI-U) rose 2.5% for the 12 months ending August 2024 (down from last month’s 2.9%), the smallest 12-month increase since February 2021. The all items less food and energy index rose 3.2% year-over-year (unchanged from last month). The energy index decreased 4.0 percent for the 12 months ending August. The food index increased 2.1% over the last year. The primary reason for the decline of the CPI-U was energy which declined 10.1% year-over-year. Over the years I have done several detailed analysis of the CPI and my conclusion is that inflation is different for each of us depending on how money is spent. The CPI shows food is up only 0.9% year-over-year – I am seeing food up 5%+ (see the table below for the 12 month change in the components of the CPI).

Un-adjusted 12-mos. ended Aug. 2024
All items 2.5
Food 2.1
Food at home 0.9
Food away from home(1) 4.0
Energy -4.0
Energy commodities -10.1
Gasoline (all types) -10.3
Fuel oil -12.1
Energy services 3.1
Electricity 3.9
Utility (piped) gas service -0.1
All items less food and energy 3.2
Commodities less food and energy commodities -1.9
New vehicles -1.2
Used cars and trucks -10.4
Apparel 0.3
Medical care commodities(1) 2.0
Services less energy services 4.9
Shelter 5.2
Transportation services 7.9
Medical care services 3.2

 

Here is a summary of headlines we are reading today:

  • Oil Markets Are Ignoring Imminent Production Cuts By 3 OPEC+ Members
  • China’s Carbon Trading Market to Encompass Steel and Aluminum Sectors
  • Oil Prices Jump 3% as Hurricane Takes 675,000 bpd Offline in the Gulf of Mexico
  • Goldman Sachs: RBOB Gasoline Sees Open Interest Surge As Storm Looms
  • U.S. Inflation Cooled in August Thanks to Lower Energy Prices
  • Study Claims Banks ‘Greenlaunder’ Trillions of Dollars of Fossil Fuels Funding
  • S&P 500 rises, Nasdaq closes 2% higher in rebound from inflation report rout: Live updates
  • Here’s the inflation breakdown for August 2024 — in one chart
  • Bitcoin could soon hit six figures regardless of who wins U.S. election, investors say
  • Hurricane Francine takes aim at the Louisiana coast amid fears of storm surge and flooding
  • Uranium Stocks Ignite After Putin Asks Gov’t To Weigh Export Restrictions On Critical Commodities
  • Treasury yields bounce off 2024 lows after August CPI inflation report

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

Today Through the Fourth Friday (22 to 28 days) Weather Outlook for the U.S. and a Six-Day Forecast for the World: posted September 11, 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 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 Sep 11 2024
Valid 12Z Wed Sep 11 2024 – 12Z Fri Sep 13 2024

…Hurricane Francine is forecast to make landfall in Louisiana later this
evening with damaging winds, life-threatening storm surge, and torrential
rainfall…

…A round of moderate to heavy rain with high-elevation snow forecast
throughout the northern Rockies…

…Elevated to critical fire weather concerns across much of the Great
Basin and portions of the High Plains…

Ample attention is on the central Gulf Coast today as Hurricane Francine
is anticipated to make landfall in Louisiana this evening before spreading
impacts north to the Mid-South through the end of the week. Once the storm
pushes onshore south-central Louisiana tonight, life-threatening weather
conditions are expected to impact parts of the state, including the cites
of Lafayette, Baton Rouge, and New Orleans. Hazardous weather conditions
include storm surge, strong winds, torrential rainfall, and a few
tornadoes. While the strongest winds and peak storm surge are expected to
occur closer to the center of Francine in south-central portions of
Louisiana, the heavy rain and tornado threats are forecast to span much
farther east along the central and eastern Gulf Coast, including southern
Mississippi, Alabama, and the Florida Panhandle. In total, Francine is
expected to produce rainfall amounts of 4 to 8 inches, with local amounts
to 12 inches for the central/eastern Gulf Coast through Thursday night.
This rainfall could lead to considerable flash and urban flooding. As
Francine pushes northward into the Mid-South and weakens by the end of the
week, additional heavy rain is possible and could lead to scattered
instances of flash flooding. Additionally, a lingering frontal boundary
draped across the Florida Peninsula could lead to localized flash flooding
concerns over the next few days. Residents under hurricane-related
warnings should follow advice of local officials, including evacuation
orders, and never drive across flooded roadways.

A separate weather system will also impact the Nation through the end of
this week, with moderate to heavy rain and gusty winds impacting parts of
the Intermountain West and northern Rockies. This autumn storm will be
driven by a deep upper low crossing from the Northwest today before
closing-off and churning over the northern Rockies on Thursday. Most of
the impactful precipitation will be confined to the northern Rockies and
the High Plains on Montana. A few inches of rainfall could produce
flooding concerns throughout northwest Montana, prompting a Slight Risk
(level 2/4) of Excessive Rainfall both today and Thursday. Snow levels
dropping to around 7,000-8000 feet may also create hazardous winter-like
conditions for the high elevations of Montana Idaho, and northwest
Wyoming. The other aspect of this system will be associated with gusty
winds and increased fire weather concerns throughout the Great Basin and
High Plains. Strong winds combined with dry vegetation and low relative
humidity are forecast to be more pronounced over the Great Basin today and
increase the chances for erratic fire behavior. Additionally, elevated to
critical fire weather also exists across the High Plains and is most
apparent on Thursday as southerly winds increase in speed. Red Flag
Warnings and Fire Weather Watches have been issued throughout 10 states
between California and Nebraska. Outdoor burning is not recommended
throughout these regions and residents are reminded to not go near any
wildfires as they can spread quickly.

Otherwise, a large high pressure system over the Northeast will aid in
producing tranquil weather from the Great Lakes to much of the East. Well
above average temperatures are expected to overspread the north-central
U.S. before a warming trend is also noticeable across the southern Plains
by Friday. Highs across the northern Plains, Upper Midwest, and Great
Lakes are forecast to reach into the upper 80s and low 90s, while upper
90s eventually return to the western half of Texas and eastern New Mexico.

cone graphic

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.

10 SEPT 2024 Market Close & Major Financial Headlines: Small Caps Lead The Markets Higher While The Dow Closes Moderately Lower

Summary Of the Markets Today:

  • The Dow closed down 93 points or 0.23%,
  • Nasdaq closed up 0.84%,
  • S&P 500 closed up 0.45%,
  • Gold $2,545 up $12.60,
  • WTI crude oil settled at $66 down $2.52,
  • 10-year U.S. Treasury 3.646 down 0.053 points,
  • USD index $101.62 up $0.07,
  • Bitcoin $57,839 up $834 or 0.46%,

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

Today’s Highlights

U.S. stock markets experienced a mixed performance in a volatile trading session on Tuesday as investors anticipated a crucial consumer inflation report on Wednesday. This report is seen as key to determining the timing and size of potential interest rate cuts by the Federal Reserve.

JPMorgan Chase shares dropped about 5% after warning that forecasts for net interest income were too high, weighing on the Dow. Brent crude dropped below $70 per barrel, reaching its lowest level since December 2021. The decline followed OPEC’s lowered demand growth forecast for 2024 and 2025. Apple shares edged lower after losing an EU court battle over a $14 billion tax bill. Oracle stock jumped more than 10% following strong earnings, driven by cloud services demand.

Markets are also anticipating the first presidential debate between Donald Trump and Kamala Harris on tonight. The market’s volatility reflects investors’ uncertainty, balancing hopes for significant rate cuts against concerns about potential recession risks.


Click here to read our current Economic Forecast – September 2024 Economic Forecast: One Recession Flag Removed With Three Remaining


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

The NFIB Small Business Optimism Index fell by 2.5 points in August 2025 to 91.2, erasing all of July’s gain. This is the 32nd consecutive month below the 50-year average of 98. The Uncertainty Index rose to 92, its highest level since October 2020. Inflation remains the top issue among small business owners, with 24% of owners reporting it as their top small business operating issue, down one point from July. NFIB Chief Economist Bill Dunkelberg added:

The mood on Main Street worsened in August, despite last month’s gains. Historically high inflation remains the top issue for owners as sales expectations plummet and cost pressures increase. Uncertainty among small business owners continues to rise as expectations for future business conditions worsen.

Here is a summary of headlines we are reading today:

  • WTI Oil Price Hits 3-Year Low Ahead of Trump-Harris Showdown
  • Falling Chinese Steel Prices Send Ripples Through Global Markets
  • Oil Prices Drop 4.5% On Record-Bearish Sentiment from Money Managers
  • European Natural Gas Prices Drop as Wind Power Soars
  • Futures Prices Point to Spike in U.S. Natural Gas Prices in 2025
  • Two key inflation reports this week will help decide the size of the Fed’s interest rate cut
  • JPMorgan Chase shares drop 5% after bank tempers guidance on interest income and expenses
  • Crypto will be ‘big boon’ for financial services over time, Robinhood CEO says: CNBC Crypto World
  • Jamie Dimon says ‘the worst outcome is stagflation,’ a scenario he’s not taking off the table
  • Volkswagen Declares War On Unions, Scraps Three-Decade-Old Job Protections
  • Americans Lost $5.6 Billion In Cryptocurrency Scams Last Year, FBI Says
  • Biden’s FAA Punishes SpaceX, Delays Starship Rocket Launch By Months
  • Falling oil prices and China concerns add fuel to market fears of a U.S. recession
  • Treasury yields establish fresh 2024 lows amid persistent recession worries

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

Today Through the Fourth Friday (22 to 28 days) Weather Outlook for the U.S. and a Six-Day Forecast for the World: posted September 10, 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 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 Sep 10 2024
Valid 12Z Tue Sep 10 2024 – 12Z Thu Sep 12 2024

…Life-threatening storm surge and hurricane-force winds, as well as the
risk of considerable flash flooding are forecast across southern Louisiana
on Wednesday as Francine approaches…

…Heavy rain expected to impact parts of the northern Rockies by
midweek…

…Elevated to critical fire weather concerns across much of the
Intermountain West…

As of early this morning Tropical Storm Francine continues churning in the
western Gulf of Mexico just to the southeast of Brownsville, Texas and
moving on a gradual northward motion. Francine is forecast to strengthen
into a hurricane before an expected landfall in southern Louisiana on
Wednesday. As the system approaches the central Gulf Coast and eventually
pushes inland across Louisiana, an increased threat of life-threatening
storm surge, hurricane-fore winds, and considerable flash flooding is
anticipated. Rainfall amounts of 4 to 8 inches, with local amounts up to
12 inches are forecast across much of central/eastern Louisiana and
Mississippi through Thursday night. Francine is then forecast to continue
its trek northward into the Mid-South on Thursday, while quickly
weakening. However, additional heavy rainfall and flash flooding concerns
are possible into western Tennessee neighboring regions. A stationary
front extending eastward from the center of the storm over the next few
days will also focus areas of numerous, slow-moving thunderstorms capable
of containing intense rainfall rates between the Florida Peninsula and
central Gulf Coast. Residents are reminded to remain weather-ready and
never drive across flooded roadways.

The only other section of the Lower 48 expecting chances for heavy rain
through midweek are parts the northern Rockies as a deep upper-level low
crosses over the region. A few inches of rainfall throughout northwest
Montana could lead to an increased risk of flash flooding on Wednesday,
which has prompted a Slight Risk (level 2/4) of Excessive Rainfall. This
storm system will also produce gusty winds throughout the Intermountain
West and lead to fire weather concerns. Specifically, the Storm Prediction
Center has issued a Critical Fire Weather area for much of Nevada and
western Utah. Current and continued wildfire activity over the Great Basin
will further add to the smokey skies noticeable throughout the northern
Plains, Midwest, and parts of the Ohio/Tennessee valleys.

High temperatures will remain above average average and into potentially
dangerous levels across parts of southern California and the Southwest
today before a quick cooldown commences by midweek. Meanwhile, upper
ridging in the north-central U.S. is expected to produce more summer-like
afternoon temperatures into the upper 80s and low 90s as far north as the
northern Plains and Upper Midwest by Thursday. These temperatures equate
to around 10 to 20 degrees above average, but are not expected to break
many daily records.

cone graphic

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.

09 SEPT 2024 Market Close & Major Financial Headlines: Wall Street’s Main Indexes Rallied Today, Recovering Some Last Weeks Losses, Finally Closing Significantly Higher

Summary Of the Markets Today:

  • The Dow closed up 484 points or 1.20%,
  • Nasdaq closed up 1.16%,
  • S&P 500 closed up 1.16%,
  • Gold $2,534 up $9.20,
  • WTI crude oil settled at $69 up $0.88,
  • 10-year U.S. Treasury 3.706 down 0.004 points,
  • USD index $101.61 up $0.43,
  • Bitcoin $56,930 up $2,084 or 3.80%,

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

Today’s Highlights

U.S. stocks rebounded strongly on Monday following the S&P 500’s worst week since early 2023, as investors refocused on inflation data that could influence upcoming interest rate decisions. Leading sectors included Financials, Industrials, and Energy. Among large-cap stocks, Nvidia, Tesla, and Amazon were notable gainers. The market is weighing the possibility of a 25 or 50 basis point cut at the upcoming Fed meeting, with recent comments from officials seeming to favor a smaller 0.25% reduction. Tech sector developments: Apple’s annual product launch event, featuring the new iPhone 16 series and updates to other devices, garnered attention. Investors will be closely watching the consumer inflation report on Wednesday and the producer inflation report on Thursday. These will be the final inflation indicators before the Fed’s policy decision on September 18.


Click here to read our current Economic Forecast – September 2024 Economic Forecast: One Recession Flag Removed With Three Remaining


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

July 2024 sales of merchant wholesalers were up 2.9% from the revised July 2023 level. Total inventories of merchant wholesalers were up 0.4% from the revised July 2023 level. The July inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.35. The July 2023 ratio was 1.38. Those that follow my narrative know there is a methodology issue with the data gathering in this sector – the boundaries of this sector are fuzzy and confused by horizontal integrations vs. vertical splits vs. outsourcing of services previously performed in house vs. integration of formerly outsourced .  The number of employees as increased 0.9% year-over-year in an industry that has a relatively high level of robotics. My bottom line is that this sector is not indicating a recession but there are issues preventing an accurate quantification of growth.

According to the Federal Reserve, “in July 2024, consumer credit increased at a seasonally adjusted annual rate of 6.0 percent. Revolving credit increased at an annual rate of 9.4 percent, while nonrevolving credit increased at an annual rate of 4.8 percent.” Consumer Credit only grew 1.9% year-over-year (the methodology used by the Fed to express annual growth as an extrapolation of the change in the rate of month-over-month growth) – and if one subtracts the rate of inflation, consumer credit growth is negative this month (red line on the graph below). Non-revolving credit (say student or car loans) only grew at 0.3% year-over-year but revolving credit (say credit cards) grew at 6.7% year-over-year. Note that in January 2023, revolving credit growth peaked at 15.5% year-over-year and has been declining ever since.

Here is a summary of headlines we are reading today:

  • Russia Is Losing Its Grip on Central Asia
  • Iran’s Missile Diplomacy Raises Stakes in Russia-Ukraine Conflict
  • Oil Giants Evacuate Gulf of Mexico Platforms Ahead of Developing Hurricane
  • Libyan Oil Shutdown Pushes Up U.S. Grades
  • Oil Trading Giant Trafigura Sees Brent Falling Below $70 Soon
  • Iraq Rejects U.S. Accusations of Enabling Iran Oil Smuggling
  • Here’s everything Apple just announced: iPhone 16, iPhone 16 Pro, Apple Watch Series 10, AirPods 4 and more
  • Dow closes nearly 500 points higher in rebound from Wall Street’s worst week of 2024: Live updates
  • Palantir soars 13% on software vendor’s inclusion in S&P 500
  • Big Lots files for bankruptcy protection, sells to private equity firm as it promises to keep offering ‘extreme bargains’
  • MicroStrategy’s Michael Saylor predicts bitcoin could hit $13 million by 2045: CNBC Crypto World
  • Austin Tells Zelensky: Long-Range Strikes in Russia Won’t Be A Game Changer
  • Why low gasoline prices shouldn’t be a ‘bragging point’ in presidential elections
  • 10-year Treasury yield ends at another 2023 low as August CPI looms

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

Today Through the Fourth Friday (22 to 28 days) Weather Outlook for the U.S. and a Six-Day Forecast for the World: posted September 9, 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 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 Sep 09 2024
Valid 12Z Mon Sep 09 2024 – 12Z Wed Sep 11 2024

…Heavy rain and a risk of flash flooding expected throughout much of the
Gulf Coast and Florida Peninsula into midweek…

…Potentially dangerous heat forecast across southern California and the
Southwest today…

…Elevated to critical fire weather concerns as well as Air Quality
Alerts remain across much of the Great Basin…

A stationary front extending from the Florida Peninsula through the
northern Gulf of Mexico along with a gradually organizing area of low
pressure in the southwest Gulf of Mexico (labeled Potential Tropical
Cyclone Six by the National Hurricane Center) will continue to produce
areas of heavy rain and the risk of flash flooding through midweek. For
today, the heaviest rainfall is anticipated over portions of southern
Texas, the central Gulf Coast, and much of the Florida Peninsula, mainly
associated with scattered showers and thunderstorms near the stationary
boundary. This may lead to isolated flash flooding concerns mainly
concentrated to urban locations. By Tuesday and more pronounced on
Wednesday, increased moisture content and organized bands of thunderstorms
associated with Potential Tropical Cyclone Six are forecast to reach the
western and central Gulf Coast. This will increase the risk of heavy
rainfall and considerable flash flooding. At the moment, the greatest risk
for rainfall amounts up to 12 inches and numerous flash floods are
forecast throughout southern Louisiana. Life-threatening storm surge and
damaging winds are also possible from the Upper Texas Coast to the
Louisiana coastline as the system is forecast to reach hurricane strength
in the northwest Gulf of Mexico by midweek. Residents should ensure they
have their hurricane plan in place and check www.nhc.noaa.gov for the
latest forecast.

Dangerous heat is in the forecast for at least one additional day for
southern California and parts of the Southwest. Highs into the upper 90s
and triple digits have prompted Excessive Heat Warnings and Heat
Advisories to be issued, with a cooling trend set to commence by midweek.
The combination of above average temperatures, dry vegetation, and gusty
winds have resulted in elevated to critical fire weather concerns
throughout much of the Intermountain West through the next couple of days.
Additionally, current wildfires continue to pump smoke into the atmosphere
of the northern Great Basin, leading to poor air quality. This smoke is
also forecast to extend eastward in the mid-to-upper levels of the
atmosphere through the northern Plains and Ohio Valley, creating
noticeably hazy skies.

Elsewhere, well above average temperatures are expected across the
north-central U.S. as highs return to the upper 80s and low 90s, which
equates to around 10-15 degrees above average. Cooler, fall-like
temperatures will kickoff the new workweek throughout the Ohio Valley and
East until temperatures return to near normal by Wednesday as the dominant
high pressure system in place slowly slides eastward to the western
Atlantic.

While notable precipiation should be mostly sparse across the Lower 48
outside of the Gulf Coast, a few areas of locally heavy rain are possible
across the Northeast and Northwest through Wednesday. Isolated severe
thunderstorms are possible throughout Upstate New York today as a weak
cold front dives across the region, with some storms potentially
containing damaging wind gusts. Increasing precipitation chances are also
forecast to spread into the Northwest and Northern Rockies as a deep upper
low swings eastward from the northeast Pacific.

cone graphic

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.

Declining Reservoir Reliability and Increasing Reservoir Vulnerability: Long-Term Observations Reveal Longer and More Severe Periods of Low Reservoir Storage for Major United States Reservoirs – Published on September 8, 2024

I am republishing this  Open Access article as I think this will be new information for EconCurrents.com readers. I have published related articles recently which can be accessed  HERE and HERE.

I have provided the below article in full but HERE is the link.  I have highlighted some statements and my comments are either  surrounded by  brackets []  or in  a text box

Citation: Simeone, C. E., Hammond, J. C., Archfield, S. A., Broman, D., Condon, L. E., Eldardiry, H., Olson, C. G., & Steyaert, J. C. (2024). Declining Reservoir Reliability and Increasing Reservoir Vulnerability: Long-Term Observations Reveal Longer and More Severe Periods of Low Reservoir Storage for Major United States Reservoirs. Geophysical Research Letters, 51(16), e2024GL109476. https://doi.org/10.1029/2024GL109476

Abstract

Hydrological drought is a pervasive and reoccurring challenge in managing water resources. Reservoirs are critical for lessening the impacts of drought on water available for many uses. We use a novel and generalized approach to identify periods of unusually low reservoir storage—via comparisons to operational rule curves and historical patterns—to investigate how droughts affect storage in 250 reservoirs across the conterminous U.S. (CONUS). We find that the maximum amount of water stored in reservoirs is decreasing, and that periods of unusually low storage are becoming longer, more severe, and more variable in (a) western and central CONUS reservoirs, and (b) reservoirs with primarily over-year storage. Results suggest that reservoir storage has become less reliable and more vulnerable to larger deviations from desired storage patterns. These changes have coincided with ongoing shifts to the hydroclimate of CONUS, and with sedimentation further reducing available reservoir storage. [Editor’s Note: Drought is natural.  It is an error to asume that a period of drought is due to a changing hydroclimate. It may be or may not be. It just as well be the combination of the phases of the Ocean Cycles. To the extent that  drought is caused by warmer temperatures we have a a better basis for attributing it to Global Warming. Same goes  for increased evaporation from reservoirs.]

Key Points

  • Low-storage periods are longer, more severe, and more variable in over-year storage reservoirs and in the western and central CONUS
  • Longer periods of low storage for some regions in recent years suggests decreased reservoir reliability in a changing hydroclimate
  • Maximum annual storage is also declining across CONUS, furthered by storage losses from sedimentation

Plain Language Summary

Drought in water systems is a major challenge in managing water resources. Reservoirs are important as they can lessen the impacts of drought on water availability for many users. However, they are impacted by drought as well. We use a novel and generally applicable method to identify when reservoir storage is unusually low, potentially from drought, at 250 reservoirs across the conterminous U.S. We find that the maximum amount of water stored in reservoirs is decreasing across the U.S. We also find that periods of unusually low storage are becoming longer and more severe in western and central U.S. regions as well as for certain types of reservoirs. This suggests that reservoir storage may be less reliable and more vulnerable to extreme conditions and may be further impacted by changing climate and hydrology across the U.S. and by sediment building up behind reservoirs.

Some may need to click on “Read  More” to read the rest of the article.