29 July 2024 Market Close & Major Financial Headlines: Markets Opened Fractionally Higher, Traded In Wide Swaths Across The Unchanged Line, Finally Closing Mixed

Summary Of the Markets Today:

  • The Dow closed down 49 points or 0.12%,
  • Nasdaq closed up 0.07%,
  • S&P 500 closed up 0.08%,
  • Gold $2,381 up $0.30,
  • WTI crude oil settled at $76 down $1.26,
  • 10-year U.S. Treasury 4.170 down 0.029 points,
  • USD index $104.56 up $0.240,
  • Bitcoin $67,297 down $947 or 1.39%,

Today’s Highlights:

This week’s focus is on three major events:

  1. The Federal Reserve’s interest rate decision on Wednesday
  2. The July nonfarm payrolls report on Friday
  3. Earnings reports from major tech companies

While no change in interest rates is expected from the Fed meeting, investors are looking for signals about potential rate cuts later in the year. The jobs report is anticipated to show some weakening in the labor market, which could influence future rate decisions. Earnings reports from tech giants Apple, Microsoft, Amazon, and Meta are highly anticipated, especially given the recent stock sell-off following earlier “Magnificent Seven” results. Over 150 S&P 500 companies are set to report earnings this week, providing a broad view of the economic landscape. The market’s performance comes after a strong rally on Friday, driven by encouraging inflation data that bolstered expectations for future interest rate cuts. However, the recent volatility and tech sector sell-off have left investors cautious about potential surprises that could challenge the fragile market rally.

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


Click here to read our current Economic Forecast – July 2024 Economic Forecast: One Recession Flag Removed But Little Indication The Economy Is Strengthening


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

The Texas Manufacturing Outlook Survey’s production index, a key measure of state manufacturing conditions, held fairly steady at -1.3, with the near-zero reading signaling little change in output from June 2024. The new orders index dropped 12 points to -12.8 in July, signaling a pullback in demand. The capacity utilization and shipments indexes also slipped, falling to -10.0 and -16.3, respectively. Manufacturing in the U.S. continues to be weak – and likely will be in a recession in July 2024.

Here is a summary of headlines we are reading today:

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 July 29, 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 Jul 29 2024
Valid 12Z Mon Jul 29 2024 – 12Z Wed Jul 31 2024

…Flash flooding possible in the Ohio/Tennessee Valleys and
central/southern Appalachians through early this week…

…Scattered severe thunderstorms forecast across portions of the Northern
Plains Monday and Upper Midwest Tuesday…

…Dangerous mid-summer heat wave to begin expanding across the central
U.S. on Monday…

Bouts of thunderstorms are expected to continue over portions of the
Ohio/Tennessee Valleys and spread further into the central/southern
Appalachians to start off the work week. An active upper-level pattern
featuring at least a couple shortwaves and an approaching surface frontal
system from the west will help to focus storm development over the
Ohio/Tennessee Valleys and eventually into the southern Appalachians
Monday. Plentiful moisture in place will also continue to lead to the
threat of heavier rain rates, with increasing storm coverage into the
evening and potential back building/repeated rounds of storms raising the
chance for locally heavy rainfall totals. As such, a Slight Risk of
Excessive Rainfall (level 2/4) is in place for the threat of some
scattered flash flooding. In addition, sufficient instability/shear will
be in place over the Ohio Valley for a couple more intense storms, as well
as the threat for a more organized storm complex later Monday evening. The
Storm Prediction Center has included a Slight Risk (level 2/5) for severe
weather as well mainly for the threat of damaging winds. A similar pattern
will be in place on Tuesday, with the focus shifting further into the
southern and central Appalachians as the upper-level energy and surface
frontal system move eastward. Another Slight Risk of Exessive Rainfall is
in effect here for additional instances of flash flooding. Outside of the
flash flooding threat, scattered thunderstorms with moderate to locally
heavy rainfall are expected more broadly over the Midwest/Southeast
Monday, and also over portions of New England as a coastal low approaches.
Rain chances will expand over the Mid-Atlantic/Northeast as the system
approaches from the west on Tuesday. Forecast high temperatures across the
East will vary depending on cloud/storm coverage, with mostly mid-80s to
low 90s expected.

Some additional storms will be possible further west along the frontal
boundary into the Upper Midwest and Northern Plains. Embedded upper-level
energy will help to trigger one round of storms over the Northern Plains
on Monday. Stronger upper-level flow will lead to more deep-layer shear
here than further east, with another Slight Risk of severe weather for the
threat of some very large hail as well as significant damaging winds if
storms consolidate/grow upscale into an organized system later in the
evening. Another round of severe weather is possible downstream over the
Upper Midwest Tuesday as yet another upper-level impulse helps to trigger
storms along the frontal boundary. Very high moisture will lead to strong
to extreme instability, with a Slight Risk in place for the chance of more
damaging winds.

Outside of the severe weather threat, heat will become the big story more
broadly over the central U.S. over the next few days as an upper-level
high strengthens/expands over the region. Forecast high temperatures
Monday and Tuesday are expected to soar into the low to mid-100s over the
Central Plains, with upper-90s to low 100s to the west over much of the
High Plains, and mid- to upper 90s for the Middle and Lower Mississippi
Valley. High humidity values over the Mississippi Valley and eastern
portions of the plains will lead to heat indices in the 105-110 degree
range, potentially as high as 115 for some locations, with widespread
heat-related warnings/advisories in place. Warm morning lows only dropping
into the mid- to upper 70s will provide little relief from the heat
overnight. This combination of hotter temperatures to the west, higher
heat indices to the east, and the multi-day duration of this heat wave
will increase the danger not only to more sensitive groups, but also the
general public, particularly those without adequate air conditioning.

A stagnant troughing pattern over the West will keep temperatures mostly
below average across the region, especially over portions of the Pacific
Northwest and northern Great Basin/Rockies. Forecast highs Monday-Tuesday
range between the 60s and 70s along the Pacific Coast, the 70s and 80s in
the Pacific Northwest and northern Great Basin/Rockies, the 80s and 90s
for interior California and the central Great Basin/Four Corners Region,
and 100s in the Desert Southwest. A cold front passing through the Pacific
Northwest will bring some rain chances on Monday, spreading into the
northern Rockies Tuesday. Smoke from area wildfires will also continue to
plague parts of the West, particularly over portions of the northern Great
Basin, resulting in poor air quality and areas of reduced visibility.

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.

Quantity of Money and Inflation. Part 4. Confounding for HNO and NFC Associations with CPI

Previous results1 show that during a specific inflation surge, Household and Nonprofit Organization (HNO) Credit changes and Nonfinancial Corporate (NFC) Debt changes are correlated with each other and with subsequent CPI inflation changes.  In such situations, confounding of associations are possible.


Image by Alex from Pixabay.

Today Through the Fourth Friday (22 to 28 days) Weather Outlook for the U.S. and a Six-Day Forecast for the World: posted July 28, 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 Jul 28 2024
Valid 12Z Sun Jul 28 2024 – 12Z Tue Jul 30 2024

…Flash flooding possible in the Ohio/Tennessee Valleys Sunday, spreading
into the central/southern Appalachians by Monday…

…Severe thunderstorms expected across portions of the Northern/Central
Plains with flash flooding into the Upper Midwest Sunday…

…Cooler than normal for much of the West with monsoonal thunderstorms
for portions of the Southwest…

A lingering frontal boundary snaking through the Ohio/Tennessee Valleys
deeper into the Southeast and off the Atlantic coast will continue to help
trigger scattered showers and thunderstorms over the next couple of days.
An upper-level wave passing over the Ohio/Tennessee Valleys will provide a
focus for more numerous storms on Sunday, possibly into the
central/southern Appalachians as well, with very moist, southerly Gulf
flow leading to some locally heavy downpours. A Slight Risk of Excessive
Rainfall (level 2/4) is in effect for the threat of some scattered
instances of flash flooding, particularly where storms may have the
tendency to backbuild/repeat over areas in vicinity of the frontal
boundary. Then, as the upper-level wave continues east on Monday, the
focus for storms will spread further into the central/southern
Appalachians, with another Slight Risk of Excessive Rainfall in effect for
additional instances of flash flooding. High temperatures broadly across
the Ohio Valley into the Southeast and along the Gulf Coast will remain at
or a bit below average given widespread clouds and storms, with highs
generally in the mid-80s to low 90s.

A frontal system passing slowly through the Northern/Central Plains and
the Upper Midwest will bring storm chances to these regions Sunday.
Plentiful moisture, instability, and strong upper-level flow overhead
leading to sufficient deep-layer shear is expected to result in some more
intense, organized storms. Initially isolated storms/supercells over
portions of South Dakota, central Nebraska, and northwestern Kansas may
produce some large hail and damaging winds. Eventual upscale growth into
an organized convective system Sunday evening may bring a damaging wind
threat downstream into southwestern Minnesota and northwestern Iowa. The
Storm Prediction Center has highlighted these areas with a Slight Risk
(level 2/5) of severe weather. The expanding coverage of storms heading
eastward, as well as plentiful moisture to lead to heavy rainfall rates,
will also bring the threat of flash flooding into Iowa. Additional storms
will continue ahead of the front over Minnesota through early morning
Sunday, with another round of storms expected Sunday night. Repeated
storms bringing heavy rainfall on top of already wet antecedent conditions
will lead to the risk of some scattered flash flooding here as well. A
Slight Risk of Excessive Rainfall extends from portions of Minnesota
southward into Iowa to cover these threats. The system will continue into
the Great Lakes region Monday, bringing showers and storms with moderate
to locally heavy rainfall. High temperatures ahead of the front will be
rather hot, running 10-15 degrees above average for some locations, with
80s to near 90 in the Upper Midwest and 90s to low 100s southwestward into
the Central Plains and southern High Plains. A few near
record-tying/breaking highs will be possible in the southern High Plains
Monday.

An upper-trough over the West will keep temperatures below average for
most of the region. Forecast highs Sunday-Monday range between the 60s and
70s along the Pacific Coast; 70s and 80s in the Pacific Northwest; 80s and
90s in the Great Basin, Four Corners Region, and interior California; and
the 100s into the Desert Southwest. Some Monsoonal storms will continue
over parts of the Southwest, particularly southeastern
Arizona/southwestern New Mexico, with an isolated threat of flash
flooding. A storm system approaching the Pacific Northwest will bring some
shower chances here as well. Smoke from wildfires will also continue to
plague parts of the West, particularly over the northern Great
Basin/Rockies, resulting in poor air quality and areas of reduced
visibility. Elsewhere, conditions will be trending hotter across most of
the Northeast, with 80s and low 90s forecast. A coastal low approaching
southern New England is looking more likely to bring cooler temperatures
and some rain chances over the next couple of days.

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.

WASDE – World Agricultural Supply and Demand Estimates – July 12, 2024 – Posted on July 27, 2024

 

Once a month USDA issues two reports on World Agriculture: One on Supply and Demand and one on Production.  USDA does not make it easy to find these reports. It is probably because they are produced by two different parts of USDA and the arrangement may change a bit from time to time.

I do not publish this article every month since it is difficult to prepare but this is a time of the year when the information is very relevant and important in terms of:

A. How production may have been impacted by El Nino which is wet for the U.S. but dry for many parts of the World.

B. How Supply and Demand might be impacted by Global Warming and

C. The impact from and on the World GeoPolitical situation.

In this article, I am presenting the summary of the World Supply and Demand Estimates.  In a few days, I may publish an article on production which is a component of Supply. Supply takes into account changes in inventory. It is like the difference between a P&L and a balance sheet or as economists express it flows and stocks.  People who rely on these reports understand the nuances. In this article, I am simply providing the summary of the WASDE report for July of this year.

Some will need 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 July 27, 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 Jul 27 2024
Valid 12Z Sat Jul 27 2024 – 12Z Mon Jul 29 2024

…Scattered showers and thunderstorms continue across portions of the
South and Mississippi Valley this weekend with the risk for some flash
flooding…

…Hot weather is in store across portions of the Northern Plains and
Upper Midwest ahead of a cold front bringing the threat of severe
thunderstorms on Saturday and heavy downpours on Sunday…

…Monsoonal thunderstorms continue for portions of the Intermountain West
with isolated flash flooding possible…

Scattered showers and thunderstorms will continue across portions of the
South and Mississippi Valley this weekend in the presence of very moist,
southerly Gulf flow. An upper-level wave over the Plains on Saturday will
encourage storms over the Middle and Lower Mississippi Valley and along
the Gulf Coast. A Slight Risk of Excessive Rainfall (level 2/4) is in
effect for portions of the Gulf Coast of Texas where recent heavy rainfall
over the past few days has left wetter antecedent conditions more
susceptible to scattered instances of flash flooding, though an isolated
flash flood risk will exist elsewhere. The wave will move eastward on
Sunday, helping to focus storm development over portions of the Middle
Mississippi/Lower Ohio Valley southeastward into the Tennessee Valley and
south to the Gulf Coast. The greatest concentration of storms/storm
clusters is expected along the leading edge of the wave over the Tennessee
Valley, where a Slight Risk of Excessive rainfall is in place for another
threat of some scattered flash flooding. The unsettled weather will help
keep temperatures down across the region this weekend, with temperatures
at or below Summer-time averages, especially for portions of central and
eastern Texas. Forecast highs are generally in the mid- to upper 80s, with
low 90s possible closer to the central Gulf/Atlantic coasts and into
Florida.

To the north, a slow moving frontal system will bring shower and storm
chances to the Northern Plains/Upper Midwest Saturday. Plentiful moisture
with sufficient instability, as well as stronger upper-level flow arriving
over the region helping to strengthen deep-layer shear, will promote some
more intense thunderstorms. The Storm Prediction Center has issued a
Slight Risk of severe weather (level 2/5) over portions of eastern North
Dakota into northwestern Minnesota for the threat of large hail and
damaging winds. Some isolated flash flooding will also be possible. Then,
on Sunday, the front is expected to slow as it approaches Minnesota.
Increasing storm coverage along the front will lead to a greater chance of
heavier rain totals and flash flooding, with a Slight Risk of Excessive
rainfall over northern Minnesota. Further to the southwest, more isolated
storms ahead of the front over central South Dakota will continue to pose
a threat of severe weather, with a Slight Risk in place for some large
hail and damaging winds. Forecast highs ahead of the front will continue
to remain well above average, with highs in the mid-80s to low 90s for the
Northern Plains/Upper Midwest and mid- to upper 90s into the Central
Plains.

More Monsoonal storms are expected on Saturday across portions of the
Great Basin, Rockies, and Southwest. Lingering moisture across the region
may lead to some locally heavy downpours, with isolated flash flooding
possible, particularly for terrain sensitive areas such as burn scars.
Storm chances will come down as upper-level heights begin to rise over the
region on Sunday, with a lingering chance over southeastern
Arizona/southwestern New Mexico. Forecast highs broadly across the West
will be at or a bit below average with an upper-level trough in place.
Highs will be in the 60s and 70s along the Pacific Coast, the 70s and 80s
for the Pacific Northwest, the 80s and 90s for interior California and the
Great Basin/Rockies, and 100s in the Desert Southwest.

Elsewhere, conditions will be rather tranquil from the Great Lakes east to
the East Coast between weather systems. Some showers may begin to spread
into the Great Lakes region later Sunday as the Plains system approaches
from the west, while a coastal low could bring some showers to southern
New England. Forecast highs will generally be at or above average, with
highs in the mid- to upper 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.

26 July 2024 Market Close & Major Financial Headlines: The Three Major Indexes Gapped Up At The Opening Bell, Trended Upwards, Finally Closing Sharply Higher In The Green

Summary Of the Markets Today:

  • The Dow closed up 654 points or 1.64%,
  • Nasdaq closed up 1.03%,
  • S&P 500 closed up 1.11%,
  • Gold $2,384 up $30.00,
  • WTI crude oil settled at $77 down $1.50,
  • 10-year U.S. Treasury 4.192 down 0.0663 points,
  • USD index $104.31 down $0.040,
  • Bitcoin $68,011 up $22152 or 3.37%,
  • Baker Hughes Rig Count: U.S. +3 to 589 Canada +14 to 211

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


Click here to read our current Economic Forecast – July 2024 Economic Forecast: One Recession Flag Removed But Little Indication The Economy Is Strengthening


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

Real Disposable personal income (DPI) in June 2024 grew 1.0% year-over-year (up from 0.9% last month). Real personal consumption expenditures (PCE) increased 2.6% year-over-year (little changed from last month). Inflation yardstick of the PCE price index  marginally declined from 2.6% year-over-year last month to 2.5% in June 2024 – however when food and energy is excluded, inflation was unchanged at 2.6%. The bottom line in this release is that there was little change in economic growth and inflation.

The University of Michigan’s consumer sentiment for July 2024 has remained virtually unchanged in the last three months.

Here is a summary of headlines we are reading today:

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 July 26, 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 Jul 26 2024
Valid 12Z Fri Jul 26 2024 – 12Z Sun Jul 28 2024

…Scattered showers and thunderstorms continue across much of the South
with a risk for flash flooding Friday in the coastal Carolinas and
southeastern Texas…

…Storm chances for portions of the Upper Midwest and Northern Plains
heading into the weekend with severe weather possible Saturday…

…Monsoonal thunderstorms continue for portions of the Intermountain West
with isolated flash flooding possible…

Scattered showers and thunderstorms will continue across much of the South
along and ahead of a cold front slowly pushing southward through the
region. Plentiful moisture will bring the threat of some locally heavy
downpours. A couple upper-level waves, one over the Carolinas and another
to the west over the Southern Plains, will help to provide a focus for
some locally more widespread, intense downpours along the coastal
Carolinas and southeastern Texas. Wet antecedent conditions from rainfall
the past few days will increase the risk for some scattered flash
flooding, with Slight Risks of Excessive Rainfall (level 2/4) in place. An
isolated threat for flash flooding will exist more broadly across the
region both Friday and Saturday. The presence of storms and general
cloudiness will help to keep temperatures near or below Summer-time
averages, especially over portions of eastern and central Texas, with
highs generally in the 80s.

A frontal boundary draped across the Upper Midwest/Northern Plains will be
the focus for daily thunderstorm chances heading into the weekend. More
widely scattered storms are expected Friday before a passing upper-level
shortwave helps to encourage more widespread storms on Saturday.
Sufficient instability along with the arrival of stronger winds aloft
bringing increasing deep-layer shear is expected to result in at least a
few more intense thunderstorms. The Storm Prediction Center has issued a
Slight Risk of severe weather (level 2/5) for portions of northwestern
Minnesota and eastern North Dakota for the threat of some large hail as
well as damaging winds, particularly if storms can organize into a
convective system into the evening hours. High temperatures will remain
rather hot across the Northern/Central Plains and Upper Midwest, with
highs in the 90s upwards of 10-15 degrees above average.

Monsoonal showers will continue across portions of the Intermountain West
Friday and Saturday, particularly from the Southwest north through the
Rockies and central Great Basin. Deep moisture lingering through the area
will bring the threat for some locally intense downpours. Isolated
instances of flash flooding will remain possible, particularly for terrain
sensitive areas such as burn scars. Forecast highs across the West will
generally be below average with an upper-level trough overhead, with highs
in the 80s and 90s across the Pacific Northwest, Great Basin, Rockies, and
interior California, and 60s and 70s along the Pacific Coast. The Desert
Southwest will be much hotter, with highs in the low to mid-110s.
Elsewhere, conditions will be mostly dry from the Midwest to the Northeast
under the presence of high pressure. Forecast high temperatures Friday
will be a bit below average, with low to mid-80s forecast. Highs will warm
up a bit on Saturday, reaching into the mid- to upper 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.

25 July 2024 Market Close & Major Financial Headlines: Markets Opened Mixed, Trended Higher Before Trimming Gains And Closing Mixed

Summary Of the Markets Today:

  • The Dow closed up 81 points or 0.20%,
  • Nasdaq closed down 0.93%,
  • S&P 500 closed down 0.51%,
  • Gold $2,362 down $53.40,
  • WTI crude oil settled at $78 up $0.51,
  • 10-year U.S. Treasury 4.251 down 0.049 points,
  • USD index $104.40 down $0.01,
  • Bitcoin $64,663 down $703 or 1.08%,

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

Today’s Highlights:

  • Dow leads stock comeback from steep sell-off: The focus is shifting to the economy as GDP and jobless reports exceed expectations .
  • US economy booms as GDP growth blows past expectations: The GDP grew at a 2.8% annualized rate in Q2, much higher than economists expected .
  • Stellantis stock sinks on results, following rivals GM, Ford: Stellantis’ stock performance in light of recent results .
  • Chipotle to splurge on bigger portions to keep diners happy: Chipotle’s strategy to maintain customer satisfaction .
  • Flamin’ Hot Cheetos dispute winds up in court: Legal issues surrounding the popular snack .
  • US 30-year fixed-rate mortgage edges up to 6.78%, Freddie Mac says: Latest mortgage rate figures from Freddie Mac .
  • OpenAI announces AI-powered search tool SearchGPT: Launch of OpenAI’s new search tool, SearchGPT .
  • Workers at GM seat supplier in Missouri reach tentative agreement, end strike: Resolution of the strike at a GM seat supplier .

Click here to read our current Economic Forecast – July 2024 Economic Forecast: One Recession Flag Removed But Little Indication The Economy Is Strengthening


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

The number of CEO changes at U.S. companies surged 97% to 234 in June from 119 in May. It is up 98% from 118 CEO exits recorded in the same month last year. The perspective from Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc:

Leaders are anticipating a sea change as we enter the second half of this year, perhaps politically, but certainly technologically. New leadership is often necessary during periods of change.

The advance estimate of 2Q2024 Real gross domestic product (GDP) increased at an annual rate of 3.1% year-over-year. In the first quarter, real GDP increased 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. On the other hand, inflation marginally worsened with the implicit price deflator rose to 2.6% year-over-year from last quarter’s 2.4%. Advance estimates can be significantly different than the “final” GDP growth numbers. As I have previously stated – inflation is not going away.

New orders for manufactured durable goods in June 2024 declined 10.2% year-over-year from the 1.5% decline last month   The decline can be laid on civilian aircraft (Boeing) but there were no bright spots as manufacturing continues to fade.

The Kansas City Fed Manufacturing Survey was at its lowest level in four years in July 2024. The volume of shipments and new orders fell substantially while production and employment levels decreased at a moderate pace. Manufacturing growth over the entire U.S. is pitiful at best.
In the week ending July 20, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 235,500, an increase of 250 from the previous week’s revised average. The previous week’s average was revised up by 500 from 234,750 to 235,250. Unemployment claims remain  within values expected for times of economic expansion.

Here is a summary of headlines we are reading today:

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 July 25, 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 Jul 25 2024
Valid 12Z Thu Jul 25 2024 – 12Z Sat Jul 27 2024

…Another day of major to locally extreme Heat Risk across the northern
High Plains before cooler air arrives behind a cold front…

…Excessive Rainfall is forecast for the Texas coast through tonight with
more scattered showers and thunderstorms across the southern tier states
to the East Coast…

…Monsoonal thunderstorms continue across the Great Basin and into the
Four Corners region with threats of localized flash flooding while fire
weather danger emerges over the interior Northwest…

A slow-to-evolve summertime weather pattern will continue across much of
the U.S. mainland while a more progressive Pacific cold front sweeps
across the northwestern part of the country through the next couple of
days. Under this weather pattern, unsettled weather and relatively cool
temperatures for July will continue across the South as well as the Great
Lakes. The stronger forcing associated with the Pacific front will push
the heat dome into the northern High Plains today behind a warm front,
resulting in another day of major to locally extreme Heat Risk for the
region. High temperatures will once again reach well up into the 100s with
little to no rainfall expected. Meanwhile, the heat will continue to
become less intense over the Central Valley of California and the Desert
Southwest. Some of the hot air over the northern Plains will be pushed
into the upper Midwest by the weekend with highs reaching into the 80s and
90s. Please continue to practice heat safety before cooler air arrives
behind the cold front.

The Pacific cold front currently making its way through the northern
Rockies into the High Plains will gradually become nearly stationary
through the next couple of days. Lightning associated with dry
thunderstorms triggered by the passage of the cold front will raise fire
danger concerns over the interior northwestern U.S. into the northern High
Plains. Farther south, monsoonal thunderstorms across the Great Basin
today will shift farther eastward into the Four Corners and as far north
as Wyoming through the next couple of days.

In contrast to the heat in the West, cooler than normal temperatures will
prevail across the mid-section of the country and portions of the eastern
U.S. where a stalled front will keep plenty of clouds along with scattered
thunderstorms. It appears that coastal sections of Texas will see the
highest chance of receiving heavy rainfall today into tonight as some
influx of tropical moisture from the Gulf of Mexico could interact with
the weak front under a broad upper-level southwesterly flow ahead of a
trough. A moderate risk of excessive rainfall remains in place from the
mid and upper Texas coast to southwestern Louisiana through tonight.
Thunderstorms across other areas of the southern tier states are not
expected to be severe, but they could result in localized flooding issues
from time to time. The same is true along the East Coast with a slight
risk of excessive rainfall over portions of the Carolinas through Friday
night where storms are expected to be more numerous. Meanwhile, showers
and a few embedded thunderstorms today across New England will clear out
by Friday as a low pressure wave moves away into eastern Canada.

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.