Today Through the Fourth Friday (22 to 28 days) Weather Outlook for the U.S. and a Six-Day Forecast for the World: posted May 5, 2024

It is difficult to find a more comprehensive Weather Outlook anywhere else with the ability to get a local 10-day Forecast also.

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 but it is unlikely to have changed very much. The images in this article automatically update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Sun May 05 2024
Valid 12Z Sun May 05 2024 – 12Z Tue May 07 2024

…There is a Moderate Risk of excessive rainfall over parts of the
Southern Plains on Sunday and a Slight Risk over the Northern High Plains
and Central Plains/Middle Mississippi Valley on Monday…

…Heavy snow over the southern Cascades, Northern Rockies, and Uinta
Mountains on Sunday and Monday…

…There is a Moderate Risk of severe thunderstorms over parts of the
Central/Southern High Plains on Monday…

A front extending from the Northern Intermountain Region to Southern
California on Sunday will advance eastward to the Northern/Middle
Mississippi Valley and then to the Southern Plains. At the same time, the
associated surface low deepens significantly by Tuesday.

The system will produce rain and higher-elevation snow over parts of the
Pacific Northwest, Northern Intermountain Region, and Great Basin, with
heavy snow developing over parts of the Southern Cascades. Scattered rain
and higher-elevation snow will also develop over parts of California.
Overnight Sunday, the snow will expand into the Northern/Central Rockies
as light rain develops over the Northern High Plains.

On Monday, the snow will continue over parts of the Northern Intermountain
Region and Northern/Central Rockies, with heavy snow developing over parts
of the Northern Rockies and Uinta Mountains.

Moreover, moisture from the Gulf of Mexico will stream northward over the
Pains Sunday night into Monday and Tuesday. The moisture will aid in
creating showers and thunderstorms with heavy rain over parts of eastern
Montana. Therefore, the WPC has issued a Slight Risk (level 2/4) of
excessive rainfall over parts of the Northern High Plains from Monday into
Tuesday morning. The associated heavy rain will create mainly localized
areas of flash flooding, with urban areas, roads, small streams, and
low-lying areas the most vulnerable.

Furthermore, showers and thunderstorms with heavy rain will develop over
parts of eastern Kansas/Nebraska and western Iowa/Missouri as the front
moves out of the Rockies onto the Plains. Therefore, the WPC has issued a
Slight Risk (level 2/4) of excessive rainfall over parts of the Central
Plains/Middle Mississippi Valley from Monday into Tuesday morning. The
associated heavy rain will create mainly localized areas of flash
flooding, with urban areas, roads, small streams, and low-lying areas the
most vulnerable.

More significantly, the system will produce showers and severe
thunderstorms as the boundary moves onto the Plains. Therefore, the SPC
has issued a Moderate Risk (level 4/5) of severe thunderstorms over parts
of the Central/Southern Plains from Monday into Tuesday morning. The
hazards associated with these thunderstorms are frequent lightning, severe
thunderstorm wind gusts, hail, and a few tornadoes. There will be the
added threat of EF2 to EF5 tornadoes, severe thunderstorm wind gusts of 65
knots or greater, and hail two inches or greater over the area.

Meanwhile, another front extending from the Great Lakes to the Southern
Plains will slowly move eastward off the Northeast Coast on Sunday. At the
same time, the western portion returns northward as a warm front over the
Middle Mississippi/Ohio Valleys by Tuesday. Moisture from the Western Gulf
of Mexico will stream northward over eastern Texas, producing showers and
thunderstorms with heavy rain. Therefore, the WPC has issued a Moderate
Risk (level 3/4) of excessive rainfall over eastern Texas through Monday
morning. The associated heavy rain will create numerous areas of flash
flooding. Furthermore, many streams may flood, potentially affecting
larger rivers.

In addition, some of the showers and thunderstorms will be severe.
Therefore, the SPC has issued a Slight Risk (level 2/5) of severe
thunderstorms over parts of the Southern Plains through Monday morning.
The hazards associated with these thunderstorms are frequent lightning,
severe thunderstorm wind gusts, hail, and a few tornadoes. Also, showers
and thunderstorms will extend from the Lower Great Lakes/Ohio Valley to
the Southeast on Sunday. The showers and thunderstorms will continue along
and near the boundary from the Ohio Valley to the Mid-Atlantic and
southward from the Lower Mississippi Valley to the Southeast Monday into
Tuesday morning.

To get your local forecast plus active alerts and warnings click HERE and enter your city, state or zip code.

Learn about wave patterns HERE.

Then, looking at the world and of course, the U.S. shows here also. Today we are looking at precipitation.

Please click on “Read More” below to access the full Daily Report issued today.

EIA Provides Information on the U.S. Oil Reserves – It is looking pretty good- Posted on May 4, 2024

EIA  the U.S. Energy Information Agency has issued their estimate of U.S. Oil and Gas Reserves in 2022. It takes them time to obtain the information by survey and validate the information. It is not simple for oil and gas operators to know what their reserves are. In this article, I present the EIA report in its entirety with two additional EIA graphics. My comments as usual are in a box.

What are reserves and what are they not? Proven (same as proved) reserves are the amount of a natural resource that can be economically extracted at current prices with existing technology Aside from the accuracy of the estimate there are three other variables in the definition that allow for future changes in the estimate of the reserves: “known”, “existing technology” and “current prices”. Usually proved reserves are an underestimate but sometimes what is considered to be a proved reserve turns out not to be as the extraction process proceeds. Estimates are usually also made for probable reserves, possible reserves, yet-to-be-discovered reserves, and total recoverable reserves. Based on my experience, proven reserves are important in investment decisions. But the other categories are also considered. What you like to see is the gross addition to proved reserves each year being equal to or larger than the withdrawals for that year. If that stops happening, it is concerning. On the other hand, If prices increase or if there is an important advancement in technology that allows more of the technically recoverable to be moved into one of the reserve categories. Sophisticated investors pay attention to the changes in the reserves. Those in the industry are mostly concerned about prices as a decline in prices caused a write-down in reserves. HERE is a good resource for mining accounting. Oil and gas should be fairly similar. My opinion is that this falls into the category of Buyer Beware.

In hard rock mining, which is my background, you prove up reserves mostly by drilling. In oil and gas, it is by drilling and pumping. IMO it is easier to determine your reserves in hard rock mining than oil and gas but they may not be more accurate.   In both sectors prices impact reserves. In oil gas, every well you drill provides information on what your reserves are. That is one reason why we look at it every year.

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

03 May 2023 Market Close & Major Financial Headlines: The Dow Gaps Up Over 400 Points At The Opening Bell, Trades Sideways, Closes Near Session Highs After Weaker-Than-Expected April Jobs Report

Summary Of the Markets Today:

  • The Dow closed up 450 points or 1.18%,
  • Nasdaq closed up 1.99%,
  • S&P 500 closed up 1.26%,
  • Gold $2,309 down $0.40,
  • WTI crude oil settled at $78 down $0.86,
  • 10-year U.S. Treasury 4.500% down 0.071 points,
  • USD index $105.05 down $0.250,
  • Bitcoin $62,117 up $2,956 (4.94%),
  • Baker Hughes Rig Count: U.S. -8 to 605 Canada +2 to 120

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


Click here to read our current Economic Forecast – May 2024 Economic Forecast: No Real Change So Expect The Economy To Continue To Plod Along


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

Total nonfarm payroll employment increased by 175,000 (establishment survey) in April 2024, and the unemployment rate changed little at 3.9 % (household survey). The majority of job gains occurred in health care, in social assistance, and in transportation and warehousing. There was a major discrepancy this month with the household survey only showing 25,000 jobs added (red bar in graph below) against the headlined 175,000 from the establishment survey (blue bar in graph below). Before the pandemic, it was estimated that the US economy needed to add 60,000–100,000 jobs each month to keep up with population growth and retirements. Chicago Federal Reserve President Austan Goolsbee views April’s 175,000 job gains as “very solid.” It’s a sign the economy is shifting back toward pre-Covid “conventional times.

In April 2024, the ISM Services PMI® registered 49.4%, 2 percentage points lower than March’s reading of 51.4%. The composite index indicated contraction in April after 15 consecutive months of growth since a reading of 49 percent in December 2022, the first contraction since May 2020 (45.4 percent). The Business Activity Index registered 50.9 percent in April, which is 6.5 percentage points lower than the 57.4 percent recorded in March. This low reading is a warning that the services side of the economy is stalling.

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 May 3, 2024

It is difficult to find a more comprehensive Weather Outlook anywhere else with the ability to get a local 10-day Forecast also.

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 but it is unlikely to have changed very much. The images in this article automatically update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Fri May 03 2024
Valid 12Z Fri May 03 2024 – 12Z Sun May 05 2024

…There is a Slight Risk of excessive rainfall over parts of the
Western/Central Gulf Coast on Friday and the Southern Plains on Saturday…

…Heavy snow over the Sierra Nevada Mountains on Saturday…

…There is a Slight Risk of severe thunderstorms over parts of the
Central/Southern Plains…

A front extending from the Great Lakes to the Southern Plains will slowly
dissipate on Friday while a new front develops over parts of the Central
Plains/Great Basin. Upper-level energy over the Southern Plains/Lower
Mississippi Valley and very moist air will aid in producing showers and
thunderstorms with heavy rain over parts of southeastern Texas and
Louisiana. Therefore, the WPC has issued a Slight Risk (level 2/4) of
excessive rainfall over parts of the Western/Central Gulf Coast through
Saturday morning. The associated heavy rain will create mainly localized
areas of flash flooding, with urban areas, roads, small streams, and
low-lying areas the most vulnerable.

In addition, some of the showers and thunderstorms will be severe.
Therefore, the SPC has issued a Slight Risk (level 2/5) of severe
thunderstorms over parts of the Southern High Plains through Saturday
morning. The hazards associated with these thunderstorms are frequent
lightning, severe thunderstorm wind gusts, hail, and a few tornadoes.
Further, there will be an additional risk of hail two inches or greater
over the area.

Moreover, the developing front over western Kansas will cause a second
area of severe thunderstorms. Therefore, the SPC has issued a Slight Risk
(level 2/5) of severe thunderstorms over parts of the Central High Plains
through Saturday morning. The hazards associated with these thunderstorms
are frequent lightning, severe thunderstorm wind gusts, hail, and a few
tornadoes.

Furthermore, on Friday, showers and thunderstorms will develop along and
ahead of the front extending from the Great Lakes to the Lower Mississippi
Valley. The showers and thunderstorms will march eastward into the Lower
Great Lakes, Central Appalachians, Mid-Atlantic, and Southeast.

By Saturday, the new front will extend from the Upper Great Lakes to the
Southern High Plains. Moisture pooling along the boundary will create
showers and thunderstorms with heavy rain over central Texas and parts of
southeastern Oklahoma. Therefore, the WPC has issued a Slight Risk (level
2/4) of excessive rainfall over parts of the Southern Plains from Saturday
into Sunday morning. The associated heavy rain will create mainly
localized areas of flash flooding, with urban areas, roads, small streams,
and low-lying areas the most vulnerable.

Similarly, some of the showers and thunderstorms will be severe.
Therefore, the SPC has issued a Slight Risk (level 2/5) of severe
thunderstorms over parts of the Southern High Plains from Saturday into
Sunday morning. The hazards associated with these thunderstorms are
frequent lightning, severe thunderstorm wind gusts, hail, and a few
tornadoes. Moreover, there will be an additional risk of hail two inches
or greater over the area. The showers and thunderstorms will also develop
along and ahead of the front from the Great Lakes to the Ohio Valley.

A dissipating front will move over the Appalachians into the Southeast on
Saturday. Rain showers will develop over parts of the Northeast into the
Mid-Atlantic. Additionally, showers and thunderstorms will extend from
parts of the Tennessee Valley to the Southeast.

Meanwhile, upper-level energy over the Northern Rockies will create light
snow over parts of the Northern Rockies and Northern High Plains on
Friday, ending by Friday night. Moreover, a front over the Eastern Pacific
will move onshore over the Pacific Northwest overnight Friday, moving
inland to the Northern Intermountain Region and Southern California by
Sunday morning.

The system will produce rain over parts of the Pacific Northwest Coast
overnight Friday, expanding into Northern California by Saturday morning.
Light snow will develop over parts of the higher elevations of the Pacific
Northwest on Saturday. As the front moves inland, rain expands into
Southern California on Saturday afternoon. Heavy snow will develop over
parts of the Sierra Nevada Mountains overnight Saturday into Sunday. By
Sunday morning, snow will move over parts of the Great Basin.

To get your local forecast plus active alerts and warnings click HERE and enter your city, state or zip code.

Learn about wave patterns HERE.

Then, looking at the world and of course, the U.S. shows here also. Today we are looking at precipitation.

Please click on “Read More” below to access the full Daily Report issued today.

02 May 2023 Market Close & Major Financial Headlines: Markets Opened Moderately Higher, Slipped Into The Red Briefly, Then Traded Upwards Closing Sharply Higher In The Green

Summary Of the Markets Today:

  • The Dow closed up 322 points or 0.85%,
  • Nasdaq closed up 1.51%,
  • S&P 500 closed up 0.91%,
  • Gold $2,314 up $2.70,
  • WTI crude oil settled at $79 up $0.01,
  • 10-year U.S. Treasury 4.583% down 0.008 points,
  • USD index $105.34 down $0.410,
  • Bitcoin $59,329 up $1,843 (3.20%)

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


Click here to read our current Economic Forecast – May 2024 Economic Forecast: No Real Change So Expect The Economy To Continue To Plod Along


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

U.S.-based employers announced 64,789 job cuts in April 2024, a 28% decrease from the 90,309 cuts announced one month prior. It is also down 3.3% from the 66,995 cuts announced in the same month in 2023. So far this year, companies have announced 322,043 job cuts, down 4.6% from the 337,411 announced through April last year.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was up 16.4% year-over-year in March 2024 – the deficit is worsening. Imports are up  2.7% year-over-year while exports are up 1.4% year-over-year. A worsening trade deficit moderates GDP.

New orders for manufactured goods in March 2024 are down 0.9% year-over-year – down 1.3% inflation adjusted.  This is directly opposite to the Federal Reserves manufacturing index which is up 1.0% year-over-year. In any event, manufacturing is not doing well in the current economy.

In the week ending April 27, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 210,000, a decrease of 3,500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 213,250 to 213,500.

Nonfarm business sector labor productivity in 1Q2024 increased 2.9% year-over-year whilst unit labor costs increased 1.8% year-over-year. As long as productivity increases faster than costs – it slows export of jobs out of the U.S.

According to NFIB’s monthly jobs report, 40% (seasonally adjusted) of all owners reported jobs openings they could not fill in the current period, up three points from March, which was the lowest reading since January 2021. The percent of small business owners reporting labor cost as their top small business operating problem increased one point from March to 11%, only two points below the highest reading of 13 percent reached in December 2021.  NFIB Chief Economist Bill Dunkelberg stated:

Hiring plans among small businesses increased once again in April, but open positions remain largely unfilled as owners struggle month after month to find employees. Overall, small businesses are not reporting net gains in employment as wage pressures and inflation keep the labor market tight.

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 May 2, 2024

It is difficult to find a more comprehensive Weather Outlook anywhere else with the ability to get a local 10-day Forecast also.

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 but it is unlikely to have changed very much. The images in this article automatically update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Thu May 02 2024
Valid 12Z Thu May 02 2024 – 12Z Sat May 04 2024

…Severe Thunderstorms and Flash Flooding concerns over portions of the
Central/Southern Plains and Mississippi Valley today…

…Cool and snowy in parts of the Northwest with above average and
potentially record breaking temperatures into the Ohio Valley and
Mid-Atlantic on today…

The main area of concern will be across the Central part of the CONUS over
the next couple of days. Shortwave disturbances emerging from the base of
a mid-level trough anchored over the northern tier will generate scattered
to isolated thunderstorms across the Plains and Mississippi Valley today.
Some storms could turn severe, particularly over portions of north-central
Texas, where the Storm Prediction Center issued a Slight Risk (level 2/5)
of Severe Thunderstorms. Thunderstorms over areas that received plenty of
rain recently may cause additional flash flooding concerns, which is why
there’s a targeted Moderate Risk (at least 40%) of Excessive Rainfall over
southeastern Texas. The primary threat of severe weather and excessive
rainfall wanes on Friday as the associated low pressure system and
associated storms move into the Ohio/Tennessee Valley and Lower Great
Lakes regions. A second cold front will sweep through the Great Plains on
Friday, bringing another round of showers and thunderstorms to the region.

An upper trough stationed over the Northwest will generate below average
temperatures across the northern tier today and Friday. This cool airmass
will support high elevation snow across the western mountains, but
particularly over the Northern Rockies, where 6-12 inches of snow are
expected by Saturday morning. A new low pressure system will emerge over
the Pacific Northwest on Friday night, bringing with it enough moisture
for low elevation rain and mountain snow. An upper level ridge downstream
of approaching shortwave impulses will generate well above average
temperatures from the Ohio Valley to the East Coast today and Friday. Some
areas within these regions may tie or break high temperature records
today. There’s a Moderate Heat Risk over portions of the Mid-Atlantic
today affecting individuals who are sensitive to heat, especially those
without effective cooling and/or adequate hydration. Temperatures will
cool down a bit heading into the weekend after a cold front pushes through.

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.

01 May 2023 Market Close & Major Financial Headlines: Wall Street Opens Lower, Trades Sideways Just Below The Unchanged Line, Jumps Sharply Higher Into The Green With Fed Announcement, Then Waterfalls Into Mixed Territory At The Closing Bell

Summary Of the Markets Today:

  • The Dow closed up 87 points or 0.23%,
  • Nasdaq closed down 0.33%,
  • S&P 500 closed down 0.34%,
  • Gold $2,332 up $25.50,
  • WTI crude oil settled at $79 down $2.82,
  • 10-year U.S. Treasury 4.626% down 0.058 points,
  • USD index $106.11 down $0.120,
  • Bitcoin $59,921 down $2,905 (4.86%)

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


Click here to read our current Economic Forecast – May 2024 Economic Forecast: No Real Change So Expect The Economy To Continue To Plod Along


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

The first paragraph of the Federal Reserve’s FOMC meeting statement for 01May2024 tells the story why the federal funds rate was unchanged at 5.25 to 5.50 %:

Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. In recent months, there has been a lack of further progress toward the Committee’s 2 percent inflation objective.

Interestingly, they went on to say:

The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. Beginning in June, the Committee will slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $60 billion to $25 billion. The Committee will maintain the monthly redemption cap on agency debt and agency mortgage‑backed securities at $35 billion and will reinvest any principal payments in excess of this cap into Treasury securities. The Committee is strongly committed to returning inflation to its 2 percent objective.

The point being is that there remains significant pressure which is currently not allowing inflation to moderate – and it will not take much for inflation to accelerate.

According to ADP, private employers added 192,000 jobs in April 2024 – blue line on the graph below. The average pace of hiring has accelerated over the last three months after slowing late last year, almost matching gains made in the first half of 2023. Pay growth continues to slow. Only the information sector — telecommunications, media, and information technology — showed weakness, posting job losses and the smallest pace of pay gains since August 2021. Before the pandemic, it was estimated that the US economy needed to add 60,000–100,000 jobs each month to keep up with population growth and retirements. However, a Brookings Institution report estimates that sustainable employment growth could be between 160,000–200,000 jobs each month. Either way, employment continues to be a bright spot in the economy.

Construction spending during March 2024 was 9.6% above March 2023. During the first three months of this year, construction spending was 10.6% above the same period in 2023. Spending on private construction was up 7.3% year-over-year whilst public construction spending was up 17.9% year-over-year. Construction is another bright spot in the economy.

The Manufacturing PMI® registered 49.2 percent in April 2024, down 1.1 percentage points from the 50.3 percent recorded in March. The ISM Manufacturing PMI® (Purchasing Managers’ Index) is a key economic indicator that gauges the health of the U.S. manufacturing sector. It’s published monthly by the ISM Manufacturing and Services business survey committees and is considered one of the most reliable economic barometers of the U.S. economy. Manufacturing continues its weak role in the economy.

The number of job openings changed little at 8.5 million on the last business day of March according to the JOB OPENINGS AND LABOR TURNOVER report (JOLTS). Over the month, the number of hires changed little at 5.5 million while the number of total separations decreased to 5.2 million. The number of job openings somewhat correlates to employment growth – and both have been slowly moderating but remain above historical levels.

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.

NOAA Updates its Weather Outlook for May 2024 – A Lot of Changes from the Mid-Month Outlook – Posted May 1, 2024

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

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

The article includes the Drought Outlook for May. NOAA also adjusted the previously issued Seasonal (MJJ) Drought Outlook to reflect the changes in the May Drought Outlook. We have included a map showing the water-year-to-date precipitation in the Western States. We also provide the Week 2/3 Tropical Outlook for the World.  We also include a very interesting ENSO Blog Post.

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

Here is the updated Outlook for May 2024.

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

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 not totally changed from what was issued on April 18, 2024, but there have been some significant changes. Remember, it is the first set of maps that are the current outlook for May.  One expects some changes  12 days later. However, the changes to the May Outlook are significant.  This then gives us some reason to question the (April 18, 2024) three-month MJJ temperature and precipitation Outlooks which are shown in the following graphic.

NOAA provided a combination of the Updated Outlook for May and the Three-Month Outlook. It was attractive but not easy to look at the difference between the current month and the three-month period that includes the current month. So I created my own. It is a little rough.

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 include 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 June and July will be very different than May, especially for temperature. You can basically subtract May from the three-month Outlook and divide by two to get a combined June-July Outlook.

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 May 1, 2024

It is difficult to find a more comprehensive Weather Outlook anywhere else with the ability to get a local 10-day Forecast also.

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 but it is unlikely to have changed very much. The images in this article automatically update.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Wed May 01 2024
Valid 12Z Wed May 01 2024 – 12Z Fri May 03 2024

…Severe Weather and Excessive Rainfall concerns for parts of the
Central/Southern Plains and Mississippi Valley…

…Critical Fire Weather potential over portions of the Southern High
Plains today…

…Cool and snowy in the Northwest; above average temperatures continue
across much of the Central and Eastern U.S….

The month of May kicks off with severe weather and excessive rainfall
threats over the Central U.S.. A developing low pressure system over the
Central High Plains of Colorado will contribute to the initiation of
scattered to isolated thunderstorms across the Great Plains today. The
Storm Prediction Center issued an Enhanced Risk (level 3/5) of Severe
Thunderstorms over parts of southwest Kansas into northwest Oklahoma this
afternoon into the evening. A few tornadoes, very large hail and damaging
winds are expected for the broader Central/Southern Plains region. The
surface wave will lift into the Central Plains this evening and support
enhanced rain rates over parts of northern Kansas, eastern Nebraska and
western Iowa, where a Slight Risk (at least 15%) of Excessive Rainfall is
in effect. Thunderstorms (some potentially severe) originating from a
dryline in the Southern High Plains will grow as they propagate into a
very moist environment in central and eastern Texas today. Given the
saturated soils from recent heavy rainfall, a Moderate Risk (at least 40%)
of Excessive Rainfall is in effect for portions of eastern Texas in
between the Dallas and Houston metros this evening. Elsewhere, showers and
thunderstorms should wrap up this afternoon across the Carolina/Southeast
coast.

Severe storms and excessive rainfall threats shift into the Mississippi
Valley on Thursday as the low pressure system moves into the region.
Scattered showers and thunderstorms will proliferate across the
Central/Southern Plains and Mississippi Valley, where a Slight Risk of
Excessive Rainfall is in effect. The MCS associated with tonight’s
excessive rainfall threat will shift into the ArkLaTex region Thursday
morning. An upper trough anchored over the Northwest will support below
average temperatures across the region for the next few days. With cold
air in place, an embedded shortwave impulse will contribute to high
elevation snow across the Cascades and Northern Rockies. Between 6-12
inches of snow is forecast to accumulate with isolated higher amounts most
likely over northwestern Montana by Friday morning. Temperatures will
remain above average, for the most part, across the eastern half of the
country through Friday before a cold front moderates things a bit heading
into the weekend.

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 Apr 2023 Market Close & Major Financial Headlines: The Dow Finishes April Over 570 Points In The Red, Followed By Nasdaq And The S&P 500 Over One Percentage Point Down Closing At Session Lows

Summary Of the Markets Today:

  • The Dow closed down 570 points or 1.49%,
  • Nasdaq closed down 2.04%,
  • S&P 500 closed down 1.57%,
  • Gold $2,305 down $53.00,
  • WTI crude oil settled at $82 down $0.92,
  • 10-year U.S. Treasury 4.690% up 0.080 points,
  • USD index $106.28 up $0.700,
  • Bitcoin $59,598 down $3,313 (5.05%)

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


Click here to read our current Economic Forecast – May 2024 Economic Forecast: No Real Change So Expect The Economy To Continue To Plod Along


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

The S&P CoreLogic Case-Shiller 20-City Composite posted a year-over-year increase of 7.3% in February 2024, up from a 6.6% increase in the previous month. Not good news for those who do not own a house.

The Conference Board Consumer Confidence Index® deteriorated for the third consecutive month in April 2024, retreating to 97.0 (1985=100) from a downwardly revised 103.1 in March. Despite these three months of weakness, the gauge continues to move sideways within a relatively narrow range that’s largely held steady for more than two years. Dana M. Peterson, Chief Economist at The Conference Board stated:

Confidence retreated further in April, reaching its lowest level since July 2022 as consumers became less positive about the current labor market situation, and more concerned about future business conditions, job availability, and income. Despite April’s dip in the overall index, since mid-2022, optimism about the present situation continues to more than offset concerns about the future. In the month, confidence declined among consumers of all age groups and almost all income groups except for the $25,000 to $49,999 bracket. Nonetheless, consumers under 35 continued to express greater confidence than those over 35. In April, households with incomes below $25,000 and those with incomes above $75,000 reported the largest deteriorations in confidence. However, over a six-month basis, confidence for consumers earning less than $50,000 has been stable, but confidence among consumers earning more has weakened.

The Chicago Business Barometer, also known as the Chicago PMI, dropped to 37.9 in April 2024, down from 41.4 in the prior month and below market forecasts of 45. The latest reading indicated that Chicago’s economic activity contracted for the fifth successive month in April, and at a robust pace, marking the strongest decline since November 2022. The markets look to the Chicago PMI as a forward indicator of the ISM Manufacturing Index which will be released tomorrow. The Chicago PMI is showing a terrible manufacturing picture.

 

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.