Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted September 20, 2024

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

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

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Fri Sep 20 2024
Valid 12Z Fri Sep 20 2024 – 12Z Sun Sep 22 2024

…Severe thunderstorm threat will shift from the upper Midwest this
morning to the southern High Plains by Saturday night/early Sunday…

…Rainy weather lingers over southeastern New England…

…A moderate to heavy rain event developing this weekend from the central
High Plains eastward toward the Mid-Mississippi Valley…

…Much above average temperatures through the mid-section of the country
and into Ohio Valley and Great Lakes…

A cold/occluded frontal system clashing with a weak warm front will
continue to support formation of strong to severe thunderstorms across the
upper Midwest early this morning. These thunderstorms will generally lose
intensity as they move into the Great Lakes through the rest of today.
The relatively fast motion of the front will limit rainfall amounts.
However, there is still the potential for isolated heavy totals, that
could result in localized flooding, especially over urbanized regions.

The deep low pressure system associated with the fronts are moving farther
away into central Canada. There will not be much temperature relief in
the wake of the fronts from the much above average temperatures currently
stretching across the Plains into the mid- to upper Mississippi Valley and
Great Lakes. These regions will continue to see some late summer heat
over the next two days. An Alberta clipper will take shape and will then
usher in a fresh dose of cool air from western Canada through the northern
Rockies followed by northern Plains this weekend.

There is not expected to be large areas of heavy rains across the lower 48
over the next two days. Exceptions will be across southeastern New
England where a slow-moving low off the southeast New England coast will
keep conditions wet Friday and Saturday. Showery weather will also likely
to persist across South Florida where tropical moisture will bring the
potential for localized heavy rains and isolated urban flash flooding from
daily thunderstorms.

A strong mid to upper level low moving onshore into the central to
southern California coast will be pressing eastward for the next couple of
days across the Southwest and into the Four Corners region. There is not
expected to be any large areas of precipiation associated with this strong
mid to upper level low across central to southern California into the
Southwest. However, during Saturday, higher levels of moisture are
expected to be transported northward ahead of the mid to upper level low
into the central to southern Rockies and southern High Plains as the
moisture begins to interact with a surge of cool air from the north. This
interaction will initiate an increasingly large precipitation event, first
across portions of the central to Southern Rockies on Saturday, then
expanding eastward Saturday evening/night into the central Plains and
lower Missouri Valley, and then toward the Mid-Mississippi Valley early on
Sunday. In addition, the potential of severe thunderstorms will increase
later on Saturday into early Sunday over the southern High Plains ahead of
a cold front and a dry line. In addition, cold air behind the front will
change the rain to wet snow over the Colorado Rockies early on Sunday.

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.

19 SEPT 2024 Market Close & Major Financial Headlines: Wall Street Market’s Opened Sharply Higher Pushing The Dow And The S&P 500 To New Historic And Closing Highs

Summary Of the Markets Today:

  • The Dow closed up 522 points or 1.26%, (Closed at 42,025, New Historic high 42,161)
  • Nasdaq closed up 2.51%,
  • S&P 500 closed up 1.70%, (Closed at 5,714, New Historic high 5,734)
  • Gold $2,613 up $14.70,
  • WTI crude oil settled at $72 up $1.10,
  • 10-year U.S. Treasury 3.719 up 0.032 points,
  • USD index $100.63 up $0.03,
  • Bitcoin $63,258 up $1,519 or 2.46%,

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

Today’s Highlights

The Dow Jones Industrial Average closed above 42,000 for the first time in history, marking a significant milestone. The S&P 500 also surged to record highs. This rally was primarily driven by the Federal Reserve’s decision to cut interest rates by 50 basis points, the first rate cut in over four years and growing optimism that the Fed’s rate cut will lead to a “soft landing” for the US economy. Strong performance from tech stocks, particularly the “Magnificent Seven” (Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla). Positive economic data, including lower-than-expected jobless claims. The market’s reaction suggests investors are interpreting the Fed’s rate cut as a sign of confidence rather than panic about current economic conditions. Some analysts have revised their forecasts, with Bank of America now expecting further rate cuts by year-end. BMO Capital Markets raised its year-end S&P 500 target to 6,100, the highest among tracked strategists, citing surprising market strength and expectations of a soft landing.


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:

According to The Conference Board Leading Economic Index® (LEI) for the U.S. declined by 0.2% in August 2024 to 100.2 (2016=100), following an unrevised 0.6% decline in July. Over the six-month period between February and August 2024, the LEI fell by 2.3%, a smaller rate of decline than the 2.7% drop over the six-month period between August 2023 and February 2024. Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board perspective:

In August, the US LEI remained on a downward trajectory and posted its sixth consecutive monthly decline. The erosion continued to be driven by new orders, which recorded its lowest value since May 2023. A negative interest rate spread, persistently gloomy consumer expectations of future business conditions, and lower stock prices after the early-August financial market tumult also weighed on the Index. Overall, the LEI continued to signal headwinds to economic growth ahead. The Conference Board expects US real GDP growth to lose momentum in the second half of this year as higher prices, elevated interest rates, and mounting debt erode domestic demand. However, in the Fed’s September 2024 Summary of Economic Projections, policymakers suggested 100 basis points of interest rate cuts are likely by the end of this year, which should lower borrowing costs and support stronger economic activity in 2025.

The September 2024 Philly Fed Manufacturing Business Outlook Survey showed that the general activity rose from -7.0 to 1.7 while the indexes for new orders and shipments declined and turned negative. To me, new orders and shipments mean that the manufacturing sector is in a recession.

Existing-home sales declined 4.2% year-over-year in August 2024. The median existing-home price for all housing types in August was $416,700, up 3.1% from one year ago ($404,200). NAR Chief Economist Lawrence Yun added:

Home sales were disappointing again in August, but the recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months. The home-buying process, from the initial search to getting the house keys, typically takes several months.

In the week ending September 14, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 227,500, a decrease of 3,500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 230,750 to 231,000. No evidence of a recession in these numbers.

According to CoreLogic, Single-family rental prices increased 2.8% year over year in July 2024, down slightly from last month. Rental prices for low-end properties dropped -0.2%, while high-end properties saw rental prices increase 2.9% year over year. The perspective of Molly Boesel, principal economist for CoreLogic:

On the surface, single-family rent growth in July could be characterized as ‘average,’ with the annual and monthly national changes roughly equal to long-term levels. However, a deeper look reveals that rent changes slowed at the lowest end of the market, dropping 0.2% in July from a year earlier. While this drop might be due to a strong year-ago comparison, it is most likely a welcome relief to renters looking for rentals in the lower-priced end of the market.

Here is a summary of headlines we are reading today:

  • How Renewables Could Slash Oil and Gas Production Emissions by 80%
  • Biden’s Tariff Crackdown Upends Amazon and Walmart’s China Strategy
  • UK Cracks Down on Iranian Oil Tycoon’s London Entity
  • Rystad: Platform Electrification Could Slash Upstream Emissions by 86%
  • Saudi Arabia’s Crude Oil Exports Slumped to an 11-Month Low in July
  • European Carmakers Call for Urgent Action as EV Sales Crash
  • The Fed has set out on a ‘recalibration’ of policy. Here’s what Powell’s new buzzword means
  • Dow jumps 500 points, S&P 500 closes above 5,700 for the first time a day after Fed slashes rates: Live updates
  • August home sales drop more than expected, as prices set a new record
  • UAW warns of potential strikes at Ford, Stellantis a year after unprecedented work stoppages
  • Bitcoin pops to $63,000 as investors digest long-awaited rate cut: CNBC Crypto World
  • Oil Rally, Fueled By Fed, CTAs And Record Shorts, Has Room For More Gains
  • Interest rates held at 5% but ‘on the path down’
  • Why a recession still worries this stock-market veteran, despite the Fed’s rate cut
  • Treasury yields end at highest levels in up to 2 weeks after jobless claims, Philadelphia Fed’s factory gauge

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 September 19, 2024

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

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

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Thu Sep 19 2024
Valid 12Z Thu Sep 19 2024 – 12Z Sat Sep 21 2024

…Severe thunderstorms possible in the eastern Plains and Upper Midwest
today…

…Late-summer heat forecast from the southern/central Plains to the Upper
Midwest…

The main weather story for the next couple of days will be a strong
occluded low and frontal system bringing impactful weather to the Plains
and Midwest. The central low will gradually lift north into southern
Canada today while it pushes a strong cold front across the eastern Plains
and Upper Midwest. Precipitation will taper off in Montana and the
northern Plains by this afternoon as the low moves farther away, and the
focus for precipitation will shift to areas ahead of the cold front. A
line of showers and thunderstorms is forecast to develop ahead of the cold
front today, and a wave of upper level energy moving over the Upper
Midwest will provide support for scattered severe thunderstorm development
this afternoon into tonight. The Storm Prediction Center has highlighted
portions of the Upper Midwest and eastern portions of the central and
southern Plains with a Slight Risk of Severe Thunderstorms (level 2/4).
Potential storm hazards will include a couple of tornadoes, large hail,
and damaging wind gusts. Additionally, locally heavy rain in stronger
storms may result in isolated instances of flash flooding in the Upper
Midwest.

Showers and storms ahead of the cold front will push east into the Great
Lakes region on Friday, but the front will weaken as it becomes separated
from its parent low in Canada. Shower and storm chances will also linger
along the eastern seaboard as a low pressure system strengthens offshore
in the western Atlantic. The main low will remain parked southeast of Cape
Cod over the next few days while a slow-moving cold front extends
southwest to the Florida Peninsula. Strong gusty winds will be possible
over the coastal waters in the vicinity of the central low, which has
prompted the issuance of Small Craft and Coastal Flood Advisories along
portions of the Mid-Atlantic and Northeast Coasts and Gale Warnings for
the offshore waters south of Cape Cod and Long Island. This system will
finally pull away from the East Coast by Sunday, which will result in
decreasing winds and precipitation chances.

Calmer weather is expected for the West today, with some lingering showers
and storms under an upper low in the Great Basin and California, then the
next round of unsettled weather will arrive with a southward moving
frontal system Friday and Saturday. Precipitation will spread from the
Northwest and northern Rockies south to the Four Corners Region by
Saturday, and some wintry precipitation will be possible in the higher
elevations of the Intermountain West. Precipitation chances will also
expand again across the Plains and portions of the Midwest late Friday
into Saturday as the frontal system pushes east of the Rockies.

Temperature-wise, late-summer heat will stick around in the Central U.S.
through the end of this week. Warm southerly flow will keep high
temperatures in the 80s and 90s from the southern/central Plains to the
Upper Midwest. Some areas in the southern Plains could see near record
highs today and Friday as highs approach 100 degrees. Above average
temperatures are also forecast for the Great Lakes and interior Northeast
underneath an upper level ridge. Temperatures in the West will remain
below normal over the next few days in the wake of the Plains system and
the upcoming late week frontal system. Temperatures in the East and
Southeast will be near normal with highs generally in the 70s and 80s.

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.

18 SEPT 2024 Market Close & Major Financial Headlines: Fed’s Half Point Interest Cut Send The Dow And S&P 500 To New Highs, But Markets Pare Gains Moderately On The Red Side

Summary Of the Markets Today:

  • The Dow closed down 103 points or 0.25%, (Closed at 41,503, New Historic high 41.982)
  • Nasdaq closed down 0.31%,
  • S&P 500 closed down 0.29%, (Closed at 5,618, New Historic high 5,690)
  • Gold $2,575 down $17.00,
  • WTI crude oil settled at $70 down $1.21,
  • 10-year U.S. Treasury 3.713 up 0.071 points,
  • USD index $100.99 up $0.09,
  • Bitcoin $60,218 down $421 or 0.70%,

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

Today’s Highlights

The Federal Reserve cut interest rates by 0.5% on Wednesday, marking its first rate reduction since 2020. This decision was largely anticipated but exceeded some analysts’ expectations of a smaller 0.25% cut. Stocks initially rallied on the news but ended the session lower: The Fed cited increased confidence that inflation is moving toward its 2% target. The decision signals a shift in the Fed’s aggressive stance to combat inflation, which had previously led to rates reaching two-decade highs. This rate cut comes as the Fed aims to balance economic growth concerns with ongoing efforts to control inflation. The market’s mixed reaction reflects uncertainty about the implications of this policy shift for the broader economy. [see more below on the rate cut]


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:

Privately-owned housing units authorized by building permits in August 2024 were 6.5% below August 2023. Privately-owned housing starts 3.9% above August 2023. Privately-owned housing completions 30.2% above August 2023. To put this sector in perspective, housing completions are the highest seen since March 2007. Even permits are the highest seen since May 2007. In other words, this sector is one of the bright spots in today’s economy.

The Federal Reserve’s Federal Open Market Committee (FOMC) statement for the meeting ending today indicates a significant shift in the Federal Reserve’s monetary policy, with the first rate cut in several years, reflecting growing confidence in the progress of inflation control while maintaining a cautious stance on future economic developments. Key points of this statement:

  • The economy continues to expand at a solid pace, although job gains have slowed. The unemployment rate has increased slightly but remains low overall
  • Inflation has made further progress towards the Committee’s 2% objective but is still somewhat elevated
  • The FOMC has decided to lower the target range for the federal funds rate by 0.5 percentage points, setting it at 4-3/4 to 5 percent. The Committee cites increased confidence in inflation moving sustainably toward 2% and judges that risks to achieving its employment and inflation goals are roughly balanced
  • As always, the FOMC will continue to carefully assess incoming data, the evolving economic outlook, and the balance of risks when considering further adjustments to the federal funds rate
  • The Committee will continue reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities
  • The decision was not unanimous. Michelle W. Bowman voted against the action, preferring a smaller rate cut of 0.25 percentage points

The Federal Open Market Committee (FOMC) has released its latest economic projections for the United States economy. These projections suggest that the FOMC expects a gradual improvement in economic conditions, with inflation moving towards the 2% target over the next few years and a slight decrease in unemployment rates. The federal funds rate is projected to decrease gradually, indicating a potential easing of monetary policy in the coming years. Here’s a summary of the key points:

Economic Growth (GDP)
The median projection for real GDP growth:
2024: 1.5%
2025: 1.8%
2026: 1.9%
Longer run: 1.8%

Unemployment Rate
The median projection for the unemployment rate:
2024: 4.1%
2025: 4.1%
2026: 4.0%
Longer run: 4.0%

Inflation
The median projection for PCE inflation:
2024: 2.5%
2025: 2.2%
2026: 2.0%
Longer run: 2.0%

For core PCE inflation (excluding food and energy):

2024: 2.6%
2025: 2.3%
2026: 2.1%

Federal Funds Rate
The median projection for the federal funds rate:
2024: 5.1%
2025: 3.9%
2026: 3.4%
Longer run: 2.5%

The Port of Los Angeles and the Port of Long Beach is a crucial gateway for international trade in the United States. It handles approximately 29% of all containerized international waterborne trade in the U.S. The container traffic data from these ports is often used as a leading indicator for economic trends as it can signal changes in consumer demand and retail activity and fluctuations in container counts can reflect broader economic cycles and global trade patterns. Well in August 2024. Import container counts are up 27% year-over-year – and stands as the third highest import level in history. Export container counts are up 4% year-over-year but remains in a long term decline. The bottom line is that import growth means that the economy is improving and as the industrial production is NOT growing – Americans desire for foreign goods is increasing.

Here is a summary of headlines we are reading today:

  • Oil Prices Rise on Jumbo Fed Rate Cut
  • Why the EU is Falling Behind in the Global AI Race
  • China’s Gasoline Exports Plunge 44% on Loss-Making Margins
  • Goldman Sachs: Iron Ore Prices to Fall to $85
  • Europe’s Natural Gas Demand and Inventories Rose in July
  • Russia’s Oil Revenues Have Dropped by 30% Since June
  • Fed meeting recap: Chair Jerome Powell defends central bank’s decision to go big with first cut
  • Fed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years
  • Dow closes lower, giving up 375-point pop after big Fed rate cut: Live updates
  • Traders got their big-rate-cut wish and markets still couldn’t rally
  • Bitcoin whipsaws after Fed cuts interest rates for the first time in four years: CNBC Crypto World
  • New Wave Of Blasts Rock Beirut For 2nd Day: Hand-Held Radios Explode, Over 300 Wounded
  • Treasury-bill rates tumble after Fed delivers biggest interest-rate cut in 16 years
  • Moody’s lifts outlook on four big regional banks to stable from negative

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 18, 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 18 2024
Valid 12Z Wed Sep 18 2024 – 12Z Fri Sep 20 2024

…Very heavy rainfall and flash flooding possible in Montana today…

…Severe thunderstorms possible in the northern and central Plains and
Upper Midwest today and Thursday…

A strong occluded low will bring hazardous weather to Montana today as it
lingers over the state. Strong upslope flow along the northern Rockies on
the backside of the low will result in showers and thunderstorms with very
heavy rainfall totals. A Slight Risk of Excessive Rainfall (level 2/4) is
in effect for portions of Montana where scattered flash flooding will be
possible. Wintry precipitation will also be possible in the high
elevations of the northern Rockies. In addition to precipitation hazards,
a strong pressure gradient in the vicinity of the central low will result
in strong, gusty winds across the region. High Wind Watches and Warnings
are in effect for portions of Montana and Wyoming where winds are forecast
to be 30-40 mph with gusts up 60 mph. The low will gradually lift north
into southern Canada Thursday and Friday, and rain and winds will begin to
relax.

The strong low pressure system will also push a cold front across the
Plains and Upper Midwest through Friday. A line of showers and
thunderstorms will move east ahead of the cold front, and the environment
will support the development of scattered severe thunderstorms. The Storm
Prediction Center has highlighted portions of the Plains and Upper Midwest
with a Slight Risk of Severe Thunderstorms (level 2/5) today and again on
Thursday. Potential severe storm hazards will include damaging wind gusts,
large hail, and a few tornadoes. Shower and thunderstorm coverage will
expand into the Great Lakes and Mid-Mississippi and Ohio Valleys on Friday
as the cold front continues to trek east.

Elsewhere, two coastal lows will sandwich the continental United States,
one moving south along the West Coast and one moving north along the East
Coast. The West Coast low will bring precipitation to the Northwest this
morning, then to the Great Basin and California later today into Thursday.
Precipitation will fall mainly in the form of showers and thunderstorms,
but some wintry precipitation will be possible in the Sierra Nevada. The
low will weaken on Friday, and precipitation will taper off. The East
Coast low will gradually deepen offshore of the Mid-Atlantic over the next
few days with a slow-moving frontal boundary extending southwest from the
low. Showers and storms will be possible for the Mid-Atlantic, coastal
Northeast, Southeast, and Florida. This system will also produce gusty
winds over the coastal waters, which has prompted Small Craft and Coastal
Flood Advisories along the Mid-Atlantic Coast.

Temperature-wise, the West will experience well below average temperatures
in the wake of the strong frontal system in the Plains, while the Central
U.S. experiences well above average temperatures with southerly flow ahead
of the Plains system. Highs over the next few days will only be in the 60s
and 70s for much of the West, while highs in the Plains and Midwest reach
the 80s and 90s. A few near-record high temperatures will be possible in
the southern Plains where highs will approach 100 degrees. Above average
temperatures will also be observed in the Northeast under an upper level
ridge, and near to slightly below normal temperatures will be observed in
the Mid-Atlantic and Southeast.

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.

17 SEPT 2024 Market Close & Major Financial Headlines: Dow Sinks After Recording New High, While The Small Caps Close Fractionally Higher In The Greem

Summary Of the Markets Today:

  • The Dow closed down 16 points or 0.04%, (Closed at 41,606, New Historic high 41.835)
  • Nasdaq closed up 0.20%,
  • S&P 500 closed up 0.03%,  (Closed at 5,635, New Historic high 5,671)
  • Gold $2,595 down $13.90,
  • WTI crude oil settled at $71 up $1.27,
  • 10-year U.S. Treasury 3.644 up 0.023 points,
  • USD index $100.98 up $0.22,
  • Bitcoin $59,743 up $1,826 or 3.14%,

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

Today’s Highlights

Stocks finished mostly flat on Tuesday as investors remained uncertain about the size of the Federal Reserve’s expected interest rate cut, which is set to be announced on Wednesday. Federal Reserve Meeting The Fed’s two-day policy meeting began on Tuesday, with a rate cut decision expected on Wednesday. Investors are debating whether the Fed will cut rates by 0.25% or 0.50%. As of Tuesday afternoon, traders saw a 65% chance of a 0.50% cut and a 35% chance of a 0.25% cut. Economic Data August retail sales data came in stronger than expected, potentially influencing the Fed’s decision. This was the last major economic report before the Fed’s announcement. Intel shares rose after securing Amazon as a customer for AI chips from its foundry business. Microsoft stock gained after announcing a new $60 billion share buyback program and a 10% dividend increase.


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:

Advance estimates of U.S. retail and food services sales for August 2024 is up 2.1% from August 2023 – up 1.3% inflation-adjusted. Seems to me there is no trend line which means a continuation of the weak retail sales growth going forward.

In August 2024, industrial production rose 0.0% year-over-year with components manufacturing up 0.2% year-over-year, utilities down 0.9% year-over-year, and mining up 0.1% year-over-year. Capacity utilization moved up to 78.0 percent in August, a rate that is 1.7 percentage points below its long-run (1972–2023) average. I see literally no re-shoring of manufacturing capacity – and manufacturing remains in a recession in the US.

Here is a summary of headlines we are reading today:

  • Which Industries Perform Best and Worst After Interest Rate Cuts?
  • Can Spain Achieve its 11 GW Hydrogen Target by 2030?
  • New Owner of Baker Hughes’ Russian Assets Raises Well Inventory
  • The Latest Oil Price Crash Appears to Have Come to an End
  • U.S. Energy Department Short on Cash to Refill SPR at Low Prices
  • S&P 500 closes little changed Tuesday after notching all-time high ahead of key Fed decision: Live updates
  • The Fed’s biggest interest rate call in years happens Wednesday. Here’s what to expect
  • Stock market setting itself up for disappointment as it hits all-time high ahead of the Fed
  • Bitcoin climbs above $60,000 ahead of Fed rate decision
  • Struggling bitcoin miners may be revived by Fed rate decision, regardless of cut size

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 17, 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 17 2024
Valid 12Z Tue Sep 17 2024 – 12Z Thu Sep 19 2024

…A coastal low will bring a threat of flash flooding to the Mid-Atlantic
today…

…A strong low pressure system will bring unsettled weather to the
Rockies and Plains with severe thunderstorms in the northern and central
High Plains…

A coastal low, previously labeled as Potential Tropical Cyclone Eight,
will continue to slowly move north across the Carolinas towards the
Mid-Atlantic over the next day or so. Moist, onshore flow will support
persistent showers and thunderstorms across portions of North Carolina and
the southern Mid-Atlantic today, and locally heavy rainfall could result
in isolated to scattered instances of flash flooding. Flood Watches are in
effect today for portions of southeastern Virginia and North Carolina.
Precipitation coverage and intensity should decrease on Wednesday,
resulting in a lower threat for flash flooding. Coastal flooding will also
be a concern with a prolonged period of onshore winds along the
Mid-Atlantic coast. By Thursday, this system will begin to shift offshore
into the Atlantic and high pressure will build behind it.

Meanwhile, a strong low pressure system will move across the Intermountain
West this morning and is expected to emerge in the northern Plains,
strengthening in the lee of the Rockies later today. Strong, gusty winds
and widespread showers and thunderstorms are forecast with this system in
the vicinity of the low pressure center and along and ahead of the
trailing cold front. Some thunderstorms may become severe this afternoon
and evening in the northern and central High Plains, and the Storm
Prediction Center has highlighted this area with a Slight Risk of severe
thunderstorms (level 2/5) with an embedded Enhanced Risk (level 3/5) over
the central High Plains. Severe storm hazards will include damaging winds
and isolated large hail.

The low pressure center of this system will be nearly stationary over
Montana through Wednesday as it’s forward motion is blocked by high
pressure to the east. This will likely result in heavy rainfall totals
that could cause scattered instances of flash flooding in portions of
Montana. The trailing cold front will slowly push east across the Plains
on Wednesday and Thursday, gradually losing steam, and the threat for
severe weather will decrease.

Another low pressure system will move south along the West Coast Wednesday
and Thursday, which will bring another round of unsettled weather.
Precipitation will spread from the Northwest to the Great Basin and
Southwest by Thursday, mainly falling as rain, but some wintry
precipitation will be possible in the higher elevations.

Initially, temperatures will be well below normal in the West and
Mid-Atlantic and well above normal in the Central U.S. and Northeast, but
temperature anomalies will gradually moderate as we move through the rest
of the week.

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.

16Sep2024 Market Close & Major Financial Headlines: Stocks Close Mixed With Concerns Over Fed Funds Rate Hike

Summary Of the Markets Today:

  • The Dow closed up 228 points or 0.55%,
  • Nasdaq closed down 0.52%,
  • S&P 500 closed up 0.13%,
  • Gold $2,610 up $0.90,
  • WTI crude oil settled at $70 up $1.81,
  • 10-year U.S. Treasury 3.623 down 0.026 points,
  • USD index $100.70 down $0.42,
  • Bitcoin $58,175 down $1,032 or 1.74%,

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

Today’s Highlights

Stocks traded mixed on Monday, with tech stocks facing pressure ahead of the Federal Reserve’s anticipated interest rate decision this week. Traders are now pricing in a 63% chance of a larger 50 basis point cut, up from 30% a week ago. This shift in expectations has put investors on edge, as a more aggressive cut could signal concerns about the economic outlook.Apple stock dropped around 3% due to concerns about iPhone 16 sales. Analysts reported that early demand for the new iPhone models appears lower than expected, with first-weekend pre-orders estimated at 37 million units, down 12.7% year-over-year from the iPhone 15 series. The weaker demand is particularly noticeable for the iPhone 16 Pro models, which have significantly shorter delivery times than their predecessors. The market is closely watching the Federal Reserve’s upcoming two-day meeting, with expectations of the first U.S. rate cut in four years. Boeing shares fell over 1% and hit a 52-week low as the company implements a hiring freeze and considers temporary furloughs amid a major strike involving 33,000 factory workers. Microsoft announced expansions to its AI-powered Copilot technology across its productivity software suite, including Excel, PowerPoint, Outlook, and Teams. The company reported a 60% quarter-over-quarter increase in Copilot customers and a doubling of daily users in the workplace.


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 September 2024 Empire State Manufacturing Survey increased for the first time in nearly a year with the headline general business conditions index rising sixteen points to 11.5. New orders climbed, and shipments grew significantly. Is the manufacturing recession over? – I doubt it. One thing about surveys is that they are very volatile and usually filled out by admin assistants, secretaries, or interns [sorry to say this is what I used to do].

Here is a summary of headlines we are reading today:

  • The State of Joe Sixpack in 2Q2024: Most Households Are Worse Off Than They Were One Year Ago
  • Report Raises Alarm Over Chinese Electric Vehicle Data Collection
  • UBS Lowers Q4 Oil Forecast by $8 Per Barrel
  • Moscow Warns of Nuclear War as West Considers Escalation
  • Russia’s Shadow Fleet is a Ticking Geopolitical Timebomb
  • U.S. Natural Gas Power Is Booming Thanks to AI
  • The Real Reason Kamala Harris Won’t Ban Fracking
  • BHP Sees Global Copper Demand Surging Due to the AI Boom and Data Centers
  • Amazon tells employees to return to office five days a week
  • S&P 500 inches closer to record, Dow touches all-time high ahead of Fed meeting: Live updates
  • UAW union files unfair labor charges against Stellantis, accuses automaker of violating contract
  • FDA clears Apple’s sleep apnea detection feature for use. Here’s how it works
  • Teaching Joy: L.A. School District Opts For “Educational Enjoyment” Over Standardized Tests

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 16, 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 16 2024
Valid 12Z Mon Sep 16 2024 – 12Z Wed Sep 18 2024

…Potential Tropical Cyclone Eight will bring wind and heavy rain to the
Carolinas and Mid-Atlantic…

…A strong upper low will bring unsettled weather and well below normal
temperatures to the West with high elevation snow in the Sierra Nevada and
Intermountain West…

…Severe thunderstorms possible for the Northern and Central High Plains
Tuesday…

While Francine’s remnants have been dissipating over the Southeast,
Potential Tropical Cyclone Eight has been strengthening off the Southeast
Coast. This disturbance is forecast to bring gusty winds and heavy rain to
portions of the Carolinas and Mid-Atlantic and dangerous coastal and beach
conditions to much of the Southeast and Mid-Atlantic coasts. The forward
motion of Potential Tropical Cyclone Eight will be slowed down by strong
high pressure over the Northeast, which will increase the chance of heavy
rainfall totals in the Carolinas today. Flash flooding will be a concern,
especially in the eastern Carolinas where the highest rainfall totals are
forecast, and flooding could have locally significant impacts. This
disturbance is forecast to gradually move north across the Carolinas into
the Mid-Atlantic, bringing a threat of locally heavy rainfall to the
region mid-week.

In the West, a deep upper low will bring unsettled weather and well below
normal temperatures to the region this week. The upper low is accompanied
by a strong surface frontal system that will push east across the
Intermountain West today and into the Plains Tuesday afternoon. This
system will bring widespread precipitation chances and gusty winds to much
of the West. Precipitation will fall mainly in the form of showers and
thunderstorms, but temperatures will be cold enough for the high
elevations of the Sierra Nevada and Intermountain West to see some early
season snow. Winter Weather Advisories are in effect through this evening
for the Sierra Nevada above 8000 feet where up to 4 inches of snow may
fall, and Wind Advisories are in effect through this evening for portions
of the Southwest where wind gusts could exceed 45 mph.

The surface low pressure system is forecast to strengthen in the lee of
the Rockies over Wyoming and Montana, and will bring a threat of scattered
severe thunderstorms to the northern and central High Plains Tuesday
afternoon and evening. The Storm Prediction Center has highlighted these
areas with a Slight Risk of Severe Thunderstorms (level 2/5), and the main
storm hazards will be severe wind gusts and hail. Showers and
thunderstorms will push east across the Plains Tuesday night and move
towards the Mississippi Valley on Wednesday.

Temperatures will have a broad range across the United States over the
next few days. The deep upper low will result in well below normal
temperatures in the West through at least mid-week, with the coldest
anomalies over the Great Basin and California where high temperatures will
be as low as 15-25 degrees below normal. On the flip side, temperatures
will be well above normal in the Central U.S. and Northeast. High
temperatures will generally be in the 80s and 90s for these regions. Below
normal temperatures are also forecast for the Southeast and Mid-Atlantic
today and Tuesday due to expected precipitation and cloud cover, but
temperatures should return to near normal for these regions by Wednesday.

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.