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 3, 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 03 2024
Valid 12Z Tue Sep 03 2024 – 12Z Thu Sep 05 2024

…Areas of heavy rain and the potential for flash flooding continue in
Texas and along the Gulf Coast the next couple of days…

…One more day of late-Summer heat for the north-central U.S. Tuesday
before focus shifts to a building heat wave in the West Wednesday…

Thunderstorms capable of producing heavy rainfall will persist across
portions of Texas and along the Gulf and southeastern Atlantic Coasts this
week as very moist Gulf air pools around a quasi-stationary frontal
boundary lingering through the region. A passing upper-level disturbance
will lead to more widespread storms once again today (Tuesday) over
portions of central Texas where a locally greater threat for some flash
flooding will exist, with a Slight Risk of Excessive Rainfall (level 2/4)
outlooked for the region. Further east along the central Texas Gulf Coast,
very moist, onshore flow aided by a stubborn coastal low and continued
rounds of storms moving inland will bring further heavy downpours that
could lead to several inches of rainfall. A Slight Risk of Excessive
Rainfall has been included here as well as wet antecedent conditions from
rainfall over the past few days will increase the threat for some
additional instances of flash flooding in the area. The upper-level
disturbance will lift northeastward on Wednesday, increasing storm
coverage over the central Gulf Coast and possibly north into the Lower
Mississippi Valley. Another Slight Risk of Excessive Rainfall is in place
given the threat for heavy downpours and scattered flash flooding. Storms
will also increase along the southeastern Atlantic Coast by Wednesday, and
daily thunderstorm chances will continue for the Florida Peninsula.

Further north, an upper-level trough and associated surface cold front
will bring showers and thunderstorms to the northern Rockies today. Some
locally heavy downpours will be possible with an isolated threat of flash
flooding over central Idaho and southwestern Montana. Ahead of this
system, an upper-level ridge over the northern/central High Plains will
lead to another day of well above average, hot late-Summer temperatures,
particularly over the northern High Plains. Forecast highs are into the
90s, with some upper 90s possible for the western Dakotas. The approaching
system from the west will help to bring temperatures back down to average
Wednesday, with highs in the low to mid-80s. Showers and storms are
expected with the passage of the system, particularly over the central
High Plains. Storms chances will also spread into the Upper Midwest as the
system continues east Wednesday night.

Attention in the mid- to late week will turn to a building heatwave over
the West. A strong ridge will settle in over the West Coast following the
passage of the upper-trough over the northern tier, with highs on Tuesday
already beginning to climb into the upper-90s and low 100s over interior
California and 100s to 110s in the Desert Southwest. Then, on Wednesday,
temperatures will soar into the low 100s over interior California and into
the 90s in the Pacific Northwest. While not as hot, much above average
temperatures are expected for coastal areas too, with highs into the low
80s for some locations. Heat-related warnings and advisories have been
issued for the Desert Southwest and central/southern California outside of
the immediate coast given a heightened risk for heat-related illness,
especially for those without access to effective air conditioning.
Elsewhere, most of the eastern U.S. outside of the the South will be dry
with generally mild temperatures. Early Fall-like highs in the 70s are
expected throughout New England, the Mid-Atlantic, and Carolinas.

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.

The Impact of Climate Change on Work – Published on Labor Day September 2, 2024

I  am not able to comment inside of the posted pages since they are images but here is a short summary of the key points.

  • Reductions in the  Demand for Labor
  • Reductions in the Demand for Labor due to Weather  Extremes.
  • Worker Absentism.
  • Declines in Productivity (heat is a major factor)
  • Impact on the self-employed.
  • Reallocation of Labor

It is a thorough report on the possible impacts but a bit short on data as to what the impacts have been but there is quite a bit of data in the report it is just not complete. It is a very interesting report to read on  Labor Day.

Some will have to click on “read more” to access the full article.

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 2, 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 02 2024
Valid 12Z Mon Sep 02 2024 – 12Z Wed Sep 04 2024

…Areas of heavy rain and the potential for flash flooding forecast
throughout the south-central U.S. over the next couple of days…

…Well above average, hot late-Summer temperatures spread from the
northwestern to north-central U.S. through Tuesday…

…Critical Fire Weather for parts of the central Great Basin on Monday…

Areas showers and thunderstorms will continue over the south-central U.S.
the next couple of days with locally heavy rainfall expected. First, a
cold front pushing into Texas this morning (Monday) will slow and become
quasi-stationary by later tonight as an upper-level disturbance passes
overhead, combining to help trigger numerous storms north of the boundary
over the Texas Hill country, west Texas, and the Big Bend region. There is
a Slight Risk of Excessive Rainfall (level 2/4) as continued storm
development and heavy downpours may lead to some scattered flash flooding.
A more localized threat over the Texas Hill country exists Tuesday, with a
Slight Risk in place. Additional storms are expected to the east
associated with an area of low pressure located just off the Texas coast.
Another Slight Risk of Excessive rainfall has been introduced for today
along the central Texas Gulf Coast where more heavy downpours and some
scattered flash flooding will be possible. The widespread storms,
rainfall, and clouds throughout the region will keep temperatures well
below average, with many highs in the 70s across central and west Texas,
and 80s further east towards the Gulf Coast.

Some thunderstorms are also expected today ahead of this front further
east along the coastal Carolinas southwest through Georgia towards the
central Gulf Coast, with the focus shifting to the central Gulf Coast by
Tuesday as the boundary slows and becomes quasi-stationary. Daily
thunderstorm chances will continue for the Florida Peninsula as well. To
the north, the passage of the cold front means some cooler temperatures
for much of the eastern U.S. the next couple of days. Forecast highs range
from the 60s and 70s for the Upper Midwest, Great Lakes, and interior
Northeast; the 70s to low 80s from southern New England west through the
Mid-Atlantic and into the Ohio and Middle Mississippi Valleys; and 80s
from the Carolinas west through the Tennessee Valley. A taste of Fall is
in store for many in the interior Northeast Tuesday morning as lows drop
into the 40s. Highs will remain a bit warmer to the south, with 90s for
the Lower Mississippi Valley and along the Gulf Coast.

Much above average, hot late-Summer temperatures seen over the
northwestern U.S. this weekend will spread into the northern High Plains
today as a strong upper-level ridge over the West shifts eastward.
Forecast highs are mainly in the 90s, with some upper 90s possible for the
northern High Plains. An approaching Pacific system/associated surface
cold front will help to bring some relief to the northwestern U.S. on
Tuesday as highs drop into the 80s. In addition, the heat combined with
dry conditions and increasing winds ahead of the approaching Pacific
system have prompted a Critical Risk of Fire Weather from the Storm
Prediction Center for much of the central Great Basin today. Another
Critical Risk also exists over the Black Hills of South Dakota and
northwestern Nebraska given a similar setup with dry conditions and
increasing winds as a trough develops in the lee of the Rockies. Some very
isolated showers and storms today over the Great Basin will become a bit
more numerous into the northern Rockies on Tuesday as the frontal system
pushes eastward. Increasing moisture may lead to some locally heavy
rainfall and an isolated instance or two of flash flooding. Conditions
will generally be dry and at or above average temperature-wise elsewhere
in the West the next couple of days, with highs in the 90s for the central
Great Basin and interior central California and 100s in the Desert
Southwest. Some cooler temperatures over northern California into the
Pacific Northwest today will begin to rebound on Tuesday as another ridge
begins to build along the West Coast in the wake of the passing Pacific
system.

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.

EIA August Monthly Energy Report – Published on September 1, 2024

The EIA Monthly  Energy Review is long and does not change much from month to month since a lot of the information is historical.  Here I present the graphics from just the first three chapters. It is enough to see that coal is being phased out, electricity is increasingly important and our incorporation of alternative sources of energy is slow.  I  may provide more information in a future article but this should be enough for people to decide if they want more detail on the rest of the report.

At the end of the article, I provided a link to the full Monthly Review. The EIA Monthly Energy Review is separate from its annual reporting on crude oil and natural gas reserves. My prior article on their estimates of reserves can be accessed HERE.  I think that reserves are only updated once a year.

Some will need to click on “Read More”  to access the rest of this article.

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 1, 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
Sun Sep 01 2024
Valid 12Z Sun Sep 01 2024 – 12Z Tue Sep 03 2024

…Areas of heavy rain with the potential for flash flooding across the
south-central U.S. through Labor Day…

…Unsettled weather across much of the East continues today…

…Well above average, hot late-summer temperatures spread from the
northwestern to north-central U.S. this holiday weekend…

Areas of locally heavy rainfall will continue over portions of the
south-central U.S. through the holiday weekend as a couple disturbances
help to drive shower and thunderstorm chances. First, a lingering coastal
low will bring more storms to the western Louisiana and upper Texas Gulf
Coasts today (Sunday) with a Marginal Risk of Excessive Rainfall (level
1/4) and some isolated flash flooding. The low will drift southwestward
Monday (Labor Day), bringing storm chances to the central Texas Gulf
Coast. Meanwhile, additional storms are expected along and to the north of
a lingering frontal boundary draped from north Texas southwest towards the
Rio Grande, with another Marginal Risk area Sunday across southeastern New
Mexico and central/western Texas. An embedded weakness in broader
upper-level ridging aloft will help to encourage more widespread storms on
Monday with a higher threat of heavy rainfall and scattered flash
flooding, especially as soils become wetter given rainfall over the first
part of the weekend. A Slight Risk of Excessive Rainfall (level 2/4) has
been introduced for the Texas Hill Country where this threat is greatest,
with a continued more expansive Marginal Risk across southeastern New
Mexico and Texas. The widespread storms and clouds will keep temperatures
below average through the weekend in the region, with highs generally in
the 80s, and even some 70s on Monday for west Texas and eastern New
Mexico.

Showers and storms will also remain in the forecast for much of the
eastern U.S. ahead of a lingering frontal boundary. The heaviest rainfall
is expected today from the southern Mid-Atlantic/Carolinas west through
the southern Appalachians where some isolated flash flooding will be
possible. Locally heavy rainfall will also be possible west through the
Tennessee Valley and into the Mid-South. More scattered, lighter showers
are expected across the Northeast. A second, stronger cold front will
bring drier air by Monday for most locations, though storms are expected
to continue ahead of the front along the Carolina coasts southwest through
Georgia towards the central Gulf Coast. Daily thunderstorms are also
forecast for the Florida Peninsula. Forecast highs today range from the
70s in New England and the Great Lakes/Upper Mid-West to the 80s in the
Mid-Atlantic and Ohio/Tennessee/Middle Mississippi Valleys and 90s deeper
into the Southeast and Lower Mississippi Valley. The passing cold front
will bring the more mild temperatures in the 70s further into the northern
Mid-Atlantic and Ohio/Middle Mississippi Valleys Monday.

An upper-level ridge will continue to bring well above average, hot
late-Summer temperatures to the northwestern U.S. today as highs soar into
the 80s to near 90 for the Pacific Northwest and mid- to upper 90s for the
northern Great Basin. Heat Advisories remain in place for portions of the
northern Great Basin given the higher threat for heat-related impacts. The
ridge will shift eastward on Monday, bringing these hotter temperatures
into the northern High Plains with forecast highs in the mid- to upper
90s. Those with plans this weekend should limit their time outdoors or
seek more breaks from the sun in the shade, as well as remember to stay
well hydrated. An upper-level low over the Pacific approaching in its wake
will bring relief to the Pacific Northwest Monday as highs drop into the
70s, and conditions will return closer to average for the northern Great
Basin with highs in the mid-80s to lower 90s. However, strengthening
downsloping winds off the northern Sierra Nevada with the approach of the
upper low on Monday have prompted a Critical Risk of Fire Weather from the
Storm Prediction Center for northeastern California, southeastern Oregon,
and northwestern Nevada. Elsewhere in the West, highs will be closer to
average but still hot, with highs in the 90s for the Great Basin and
interior central California, and 100s for the Desert Southwest. Conditions
will be a bit cooler in the Four Corners region with highs in the 80s, and
a few thunderstorms will be possible 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 Forecast for September 2024 on September 1, 2024 and this article was posted as described below.

It is now updated.  I will be adding comments for a little while but the images are now updated.

At the end of every month, NOAA updates its Outlook for the following month which in this case is August of 2024. We are reporting on that tonight.

There have been some significant changes in the Outlook for  September and these are addressed in the NOAA Discussion so it is well worth reading.  We provided the prior Mid-Month Outlook for September for comparison. It is easy to see the substantial changes in the weather outlook by comparing the Mid-Month and Updated Maps.

The article includes the Drought Outlook for September. NOAA also adjusted the previously issued Seasonal (SON) Drought Outlook to reflect the changes in the September Drought Outlook. We also provide the Week 2/3 Tropical Outlook for the World.

The best way to understand the updated outlook for September 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 September and the Mid-Month Outlook for September. This is followed by a graphic that shows both the Updated Outlook for September and the previously issued three-month outlook for SON 2024. So you get the full picture in three graphics.

Here is the updated Outlook for September 2024.

 

For Comparison Purposes, Here is the earlier Mid-Month Outlook for September.

 

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 August 15, 2024. Remember, it is the first set of maps that are the current outlook for September.  One expects some changes  16 days later. However, the changes to the updated September Outlook are very significant.  This then gives us some reason to question the (August 15, 2024) three-month SON temperature and precipitation Outlooks which are shown in the following graphic.

NOAA provided a combination of the Updated Outlook for September 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 August 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 October and November will be very different than September, especially for precipitation. You can subtract September from the three-month Outlook and divide by two to get a combined October-November Outlook.

However given the major change in the new September outlook from what was issued on August 15,  2024, we might not trust the Seasonal Outlook issued on August 15, 2024. Something to think about. But the major factor is the projected slower onset of La Nina. Thus this change is consistent with the pattern the NOAA has been predicting although they have been playing catch-up.

I am still not convinced that there will be a La Nina Winter.

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.

Today Through the Fourth Friday (22 to 28 days) Weather Outlook for the U.S. and a Six-Day Forecast for the World: posted August 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 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 Aug 31 2024
Valid 12Z Sat Aug 31 2024 – 12Z Mon Sep 02 2024

…Widespread showers and storms expected from the Southern Plains to East
Coast to start the holiday weekend…

…Flash flooding and severe weather possible for portions of the
northern/central Appalachians Saturday…

…Multiple days of heavy rain may cause flash flooding for portions of
the Louisiana and Texas Gulf Coasts…

…Well above average, hot late-Summer temperatures forecast in the
northwestern U.S. this weekend…

An upper-level trough and associated surface cold front will progress
eastward this morning (Saturday), extending from the Northeast southwest
through the Ohio/Tennessee Valleys, Middle Mississippi Valley/Mid-South,
and into the Southern Plains. Another round of showers and thunderstorms
is expected along and ahead of the length of the front, with moist air and
instability likely leading to some more intense thunderstorms, heavy
downpours, and the potential for isolated flash flooding. A locally higher
threat is expected across portions of the northern/central Appalachians
given the potential for some training/repeated rounds of storms across
more sensitive mountain terrain. The region is under a Slight Risk of
Excessive Rainfall (level 2/4) for the threat of a few more scattered
instances of flash flooding. In addition, stronger winds aloft with the
passing upper trough will bring increased shear for some more organized
storms. The Storm Prediction Center has also included a Slight Risk of
severe weather (level 2/5), mainly for the threat of some damaging winds.
The fronts forward progression will slow through Saturday, especially with
southwestward extent, leading to additional rounds of storms on Sunday
with moderate to locally heavy rainfall from the southern
Mid-Atlantic/Carolinas west through the Tennessee Valley, Mid-South, and
into the Southern Plains. Some isolated flash flooding will remain
possible, especially for the southern Appalachians/Mid-Atlantic and
Carolinas as well as the southern High Plains. A secondary cold front
sweeping in from the north will bring an end to precipitation chances for
most areas outside of the Southeast/Southern Plains later Sunday night.

Further south, another area of storms is expected to continue today in
vicinity of a coastal low near the western Louisiana and upper Texas Gulf
Coasts. Another Slight Risk of Excessive Rainfall is in place as slow
moving and very heavy rainfall-producing storms given abundant Gulf
moisture may lead to some additional scattered instances of flash
flooding, especially given wetter antecedent conditions from rainfall the
past few days. At least an isolated threat for flash flooding will exist
into Sunday, though rainfall amounts may trend downward. Daily
thunderstorms are also forecast for the Florida Peninsula, with some
isolated instances of urban flooding possible for South Florida today.
Temperature-wise, relief from the more intense heat this past week will
finally come to the Middle Mississippi, Ohio, and Tennessee Valleys as
increasing storm chances and the approaching front keep temperatures down
a bit, with highs generally in the 80s and low 90s. Low 90s will also be
common across the Southeast with mid-80s to low 90s for the Appalachians
and southern Mid-Atlantic. Highs will remain cooler and mainly in the 70s
to the north of a warm front for the northern Mid-Atlantic and New England
Saturday, with a rebound into the low 80s expected for many locations
Sunday as the warm front lifts north. The Northern/Central Plains and
Midwest will see highs in the 80s today before a cold front brings cooler
temperatures in the 70s Sunday. Conditions will remain much below average
for late Summer over the Lower Mississippi Valley and Southern Plains,
with highs generally in the mid-80s outside of south Texas. Some 70s will
be possible for west Texas.

Well above average, hot late-Summer temperatures will continue into the
weekend for the northwestern U.S. as a broad upper-level ridge remains in
place over the West. Highs are forecast into the 90s to near 100 across
the interior Pacific Northwest, northern Great Basin, and northern
Rockies, and have prompted some Heat Advisories for the northern Great
Basin/Rockies given the heightened risk of heat-related illness. Those
with outdoor plans for the holiday weekend should remember to take more
frequent breaks from the heat in the shade and stay hydrated. Highs
elsewhere across the West will not be quite as above average, but still
hot, with 90s for the Great Basin and interior California and 100s in the
Desert Southwest. Portions of the Southwest/Four Corners Region will be a
bit cooler with shower and thunderstorm chances expected in vicinity of a
lingering frontal boundary, with highs in the upper 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.

30 AUG 2024 Market Close & Major Financial Headlines: Markets Opened Sharply Higher, Dipped Into The Red Mid Session, Continued To Trend Higher To see The Dow Report Another Historic High And Closing Near Session Highs

Summary Of the Markets Today:

  • The Dow closed up 228 points or 0.55%, (Closed at 41,563, New Historic high 41.585)
  • Nasdaq closed up 1.13%,
  • S&P 500 closed up 1.01%,
  • Gold $2,535 down $25.30,
  • WTI crude oil settled at $74 down $2.40,
  • 10-year U.S. Treasury 3.909 up 0.042 points,
  • USD index $101.67 up $0.33,
  • Bitcoin $58,806 down $550 or 0.93%,
  • Baker Hughes Rig Count: U.S. -2 to 583 Canada +1 to 220

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

Today’s Highlights

US stocks ended August on a positive note, with all three major indexes posting gains for the month despite earlier volatility. Here are the key points:

Inflation Data and Rate Cut Expectations

    • The Personal Consumption Expenditures (PCE) index, the Federal Reserve’s preferred inflation gauge, showed prices increased in line with expectations in July.
    • Core inflation rose 0.2% month-over-month and 2.6% annually, matching June’s level.
    • This data kept hopes alive for a 0.25% interest rate cut in September, as hinted by Fed Chair Jerome Powell last week.

Market Sentiment

    • Stocks took an upbeat tone as recession fears receded and expectations grew for the Fed to begin easing monetary policy.
    • Investors have moved past the focus on Nvidia’s earnings that dominated earlier in the week.

Looking Ahead

    • September could bring more volatility, as it has historically been a weak month for stocks.
    • The market will be closely watching for further signs of the Fed’s policy pivot and its impact on the economy.

Despite a bumpy August, the stock market ended the month on a high note, with inflation data supporting expectations for a Fed rate cut in September. However, investors should be prepared for potential volatility in the coming month.


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:

Real disposable personal income (DPI), inflation adjusted personal income less personal current taxes, increased 1.1% year-over-year – up from last month’s 1.0%. Real personal consumption expenditures increased 2.7% year-over-year – down from last month’s 2.8%. The PCE price index (aka “inflation”) was unchanged at 2.5%. Excluding food and energy, the PCE price index also was unchanged at 2.6%. The bottom line is that neither consumption or inflation is changing. As I continue to state, there is ZERO evidence that the underlying inflationary forces are moderating today. Every day, consumers are getting poorer as their income is only up 1.1% year-over-year whilst their spending is up 2.8%. Wall Street is pressuring the Federal Reserve to cut rates for the benefit of traders while the real burden of inflation is being born by the working who are made poorer every day.

The Chicago Business Barometer moved up 0.8 points in August 2024 to 46.1. Any value below 50 shows contraction. The reason this minor indicator is important is that pundits believe it is indicative of the ISM manufacturing survey which will be released next week. The bottom line here is that manufacturing is not doing well.

Here is a summary of headlines we are reading today:

  • EPA Extends Emergency Waiver for Midwest Gasoline Supply
  • U.S. Oil, Gas Drilling Activity. Oil Production Slip
  • Texas to Consider $5.4 Billion Loans for New Natural Gas Plants
  • Libya Is Back on the Brink of Civil War
  • Maduro Clings to Power in Venezuela
  • Stocks close higher Friday, S&P 500 posts fourth straight winning month: Live updates
  • The Fed’s favorite inflation indicator increased 0.2% in July, as expected
  • FDA authorizes Novavax’s updated Covid vaccine, paving way for fall rollout
  • Ether heads for over 20% loss in August, bitcoin faces fourth weekly loss in five: CNBC Crypto World
  • Fewer people are purchasing homes, despite high demand—buyers are in ‘wait and see’ mode
  • The Fed’s Fiat Money Is The Real Cause Of Price Inflation
  • Extreme Gaslighting: Here Are 7 Signs That The Mainstream Media Is Flat Out Lying To Us About The Economy
  • Social Security’s return on investment is a joke compared with state and local pension funds. Where is our money going?

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 August 30, 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 Aug 30 2024
Valid 12Z Fri Aug 30 2024 – 12Z Sun Sep 01 2024

…Widespread shower and thunderstorm chances from the Plains to East
Coast to start the holiday weekend, producing heavy rain and severe
weather...

…Heavy rain and scattered flash flooding possible along the Louisiana
and upper Texas Gulf Coasts…

…Record heat continues across the Ohio/Tennessee Valleys into the
Southern Appalachians today with relief on tap for the weekend…

…Much above average temperatures build across the Pacific Northwest,
northern Great Basin and into the northern Rockies…

A broad area of showers and thunderstorms is expected over central and
eastern portions of the country heading into the first half of the holiday
weekend ahead of an approaching cold front. Today (Friday), storm chances
will stretch from the Lower Great Lakes southwest through the Middle
Mississippi Valley and into the Southern Plains/Rockies. Plentiful
moisture and instability ahead of the front will lead to some more robust
thunderstorms and locally heavy rainfall, with some isolated flash
flooding possible. In addition, an accompanying upper-level trough
overhead will bring some higher winds over the Great Lakes, leading to
stronger shear and the potential for some severe weather. There is a
targeted Slight Risk (level 2/5) from the Storm Prediction Center over
portions of eastern Michigan mainly for the risk of damaging winds. On
Saturday, the front will progress further south and eastward into the Ohio
Valley and Northeast while slowing in progress and becoming nearly
stationary with southwestward extent into the Southern Plains. A broader
area of severe weather is expected over portions of the northern/central
Appalachians and Mid-Atlantic as the upper-level trough digs southward
over the region. Damaging winds will once again be the primary threat. In
addition, isolated flash flooding will remain possible, with the potential
that a higher threat may materialize given the slowing frontal
progression.

Further south, another more concentrated area of heavier rainfall is
expected to continue along portions of the western Louisiana and upper
Texas Gulf Coasts as an area of low pressure lingers in the vicinity.
Higher rain rates and repeated rounds of storms may lead to locally higher
rain totals of 2-4″+ over Friday and Saturday. A Slight Risk of Excessive
Rainfall (level 2/4) has been included for both days for the potential of
some scattered flash flooding. Daily thunderstorms are also forecast over
the central/southern Florida Peninsula.

One more day of excessive heat is forecast over the Ohio/Tennessee Valleys
and southern Appalachians today as temperatures soar once again into the
mid- to upper 90s. High humidity may bring head indices into the low 100s.
A few record-tying/breaking highs will also be possible. The approaching
cold front and increasing storm chances/cloud cover will finally bring
some relief on Saturday as highs drop into the 80s across the Middle
Mississippi and Lower Ohio Valleys, with upper 80s to low 90s for the
Upper Ohio and Tennessee Valleys. Elsewhere, highs will be particularly
mild north of the frontal boundary across the northern Mid-Atlantic and
New England, with 70s and even some upper 60s expected today. Temperatures
will warm up a few degrees as the boundary lifts northward as a warm front
on Saturday. Conditions will also be well below average over portions of
the Southern Plains to the northwest of the frontal boundary, with low to
mid-80s forecast. Areas ahead of the front from Texas into the Southeast
and the southern Mid-Atlantic will generally be in the upper 80s to low
90s.

In the wake of the departing trough to the east, an upper-level ridge over
the Pacific Coast will shift inland, helping to focus hot, much above
average temperatures over the northern tier of the West. Forecast highs on
Friday for the northern Great Basin and Pacific Northwest will range
between the low to mid-90s for most locations. Then, on Saturday, the heat
will intensify as well as expand into the northern Rockies, with many
highs in the mid- to upper 90s, 10-20 degrees above average. Heat
Advisories have been issued for much of the northern Great Basin given the
heightened risk of heat-related illnesses, and extra care should be taken
to seek shaded areas and remain hydrated this holiday weekend. Elsewhere
in the West, temperatures will generally be near or just above average,
with 60s and 70s along the coast, 80s to low 90s for the Great Basin,
mid-90s for the central California Valleys, and 100s in the Desert
Southwest. A few showers and thunderstorms will be possible along a
lingering frontal boundary through the central/southern Rockies and into
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.

29 AUG 2024 Market Close & Major Financial Headlines: Markets Open Higher, Dow Reaches New Historic High, The S&P 500 And Nasdaq Close Lower As Nvidia Sheds Over 8%

Summary Of the Markets Today:

  • The Dow closed up 244 points or 0.59%, (Closed at 41,335, New Historic high 41.578)
  • Nasdaq closed down 0.23%,
  • S&P 500 closed flat 0.00%,
  • Gold $2,555 up $17.20,
  • WTI crude oil settled at $76 up $1.43,
  • 10-year U.S. Treasury 3.867 up 0.026 points,
  • USD index $101.38 up $0.28,
  • Bitcoin $59,482 up $379 or 0.64%,

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

Today’s Highlights

The Dow Jones Industrial Average closed at a new record high marking its third record close this week. Key factors were:

Nvidia Earnings

    • Nvidia’s quarterly profit and revenue guidance topped estimates, but fell short of high expectations.
    • This raised questions about whether the AI boom has peaked.
    • Nvidia shares ended down around 6% despite Wall Street remaining bullish on the stock.

You will find more infographics at Statista

Economic Data

    • Q2 GDP growth was revised up to 3% annualized, higher than the previous 2.8% estimate.
    • Weekly jobless claims came in at 231,000, lower than expected.

Other Earnings

    • Salesforce shares rose after beating earnings expectations.
    • Best Buy shares jumped up to 17% on better-than-expected results.
    • Dollar General shares plunged 30% after cutting its full-year outlook.

The mixed market performance reflects investors assessing Nvidia’s earnings alongside stronger-than-expected economic data, as they also consider the Federal Reserve’s future interest rate decisions.


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 number of CEO changes at U.S. companies fell 36% to 149 in July from 234 in June. It is down 24% from 197 CEO exits recorded in the same month last year. Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. stated:

The labor market is softening, and companies are finding ways to lower costs. Companies have made leadership changes in response to AI, the political landscape, and international events causing substantial impacts on business conditions.

The second estimate of real gross domestic product (GDP) increased at an annual rate of 3.1% year-over-year in the second quarter of 2024. Using a year-over-year metric, there was no change in growth between the advance and second estimates in 2Q2024. In the first quarter, real GDP increased at 2.9% year-over-year. The increase in real GDP primarily reflected increases in consumer spending, private inventory investment, and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased . The price index for gross domestic purchases increased 2.6% year-over-year in the second quarter – up from the 2.4% year-over-year in 1Q2024.

Pending home sales (a forward-looking indicator of home sales based on contract signings) slipped to 70.2 in July, the lowest reading since the index began tracking in 2001. Year over year, pending transactions were down 8.5%. An index of 100 is equal to the level of contract activity in 2001. The existing home market remains depressed – but note that it is not a component of GDP. NAR Chief Economist Lawrence Yun added:

A sales recovery did not occur in midsummer. The positive impact of job growth and higher inventory could not overcome affordability challenges and some degree of wait-and-see related to the upcoming U.S. presidential election.

In the week ending August 24, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 231,500, a decrease of 4,750 from the previous week’s revised average. The previous week’s average was revised up by 250 from 236,000 to 236,250. There is little evidence of a potential recession in this data.

Here is a summary of headlines we are reading today:

  • Beijing and Washington Clash Over Russia Sanctions
  • UK Plans New Environmental Guidance for North Sea Oil and Gas Firms
  • How China is Circumventing Sanctions to Buy Iranian Oil
  • CNOOC Expects Oil Prices to Remain Rangebound Between $75 and $85
  • Traders Concerned About Near-Term Risks for European Gas Supply
  • Dow rises 200 points for fresh record close, Nasdaq falls as Nvidia shares tumble: Live updates
  • The Fed’s preferred inflation indicator is out Friday. Here’s what to expect
  • Disillusioned crypto investors are struggling behind bitcoin’s ETF success
  • Nvidia shares fall despite earnings beating estimates
  • Bitcoin drifts back to $60,000, trimming the week’s losses: CNBC Crypto World
  • Apple, Nvidia Eye Investments In OpenAI As ChatGPT Hits $100 Billion Valuation
  • Treasury yields rise after latest batch of U.S. economic data
  • With earnings season behind us, the stock market is aiming at new all-time highs

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