22Mar2024 Market Close & Major Financial Headlines: Markets Close Mixed But Still End With the Best Week So Far This Year

March 22, 2024Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 305 points or 0.77%,
  • Nasdaq closed up 0.16%,
  • S&P 500 closed down 0.14%,
  • Gold $2164 down $19.70,
  • WTI crude oil settled at $81 down $0.25,
  • 10-year U.S. Treasury 4.210% down 0.061 points,
  • USD index $104.45 up $1.03,
  • Bitcoin $63,780 down $1,700.
  • Baker-Hughes rig count down 5 to 624

Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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

U.S. single-family rents posted a 2.6% annual gain in January 2024 according to CoreLogic’s monthly Single-Family Rent Index (SFRI), with Urban Honolulu taking the top sport for growth. However, despite January’s relatively moderate growth in rental costs, prices across the nation are up by almost 30% since early 2020. Molly Boesel, principal economist for CoreLogic stated:

While annual U.S. single-family rent growth was a moderate 2.6% in January, that increase built on years of above-trend annual gains. Furthermore, while rent growth is slowing, costs are still increasing across most of the country. The median rent on a three-bedroom property increased by over $100 in the past year and by more than $500 in the past three years.

Here is a summary of headlines we are reading today:

  • U.S. Has Urged Ukraine To Stop Attacks on Russian Refineries
  • Russian Diesel in Floating Storage Hits Highest Level Since 2017
  • China Buys Up Russian Oil
  • Will Waning Gasoline Demand Drag Oil Prices Down?
  • Explaining the Market’s Reaction to Jerome Powell’s Speech
  • Oil Industry Executives Say Oil Demand Is Beating Forecasts
  • All Indian Refiners Now Reject Russian Crude Shipped by Sovcomflot Tankers
  • Why a small China-made EV has global auto execs and politicians on edge
  • “We Have Reached A Bottom”: Uranium Poised To Jump Again After 3 Month Correction
  • Trump poised for billions as stock market deal passes

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

NOAA Updates its Seasonal Outlook on March 21, 2024 – Hints of a Possibly Very Strong La Nina Coming: Published March 22, 2024

March 22, 2024Posted inweatherNo Comments

Updated at 11 p.m. EDT March 22, 2024. Three additional graphics were added plus some additional commentary.

On the third Thursday of the month right on schedule NOAA issued their updated Seasonal Outlook which I describe as their Four-Season Outlook because it extends a bit more than one year into the future. The information released also included the Mid-Month Outlook for the following month plus the weather and drought outlook for the next three months.  I present the information issued by NOAA and try to add context to it. It is quite a challenge for NOAA to address the subsequent month, the subsequent three-month period as well as the twelve successive three-month periods for a year or a bit more.

With respect to the long-term part of the Outlook which I call the Four-Season Outlook, there is a fairly rapid transition from El Nino to ENSO Neutral to LaNina. So getting the timing right is very challenging. The potential for a very strong La Nina is discussed but it is not the likely scenario at this point in time. But it seems that the longer-term outlook now factors in both drier conditions in certain parts of the U.S. and wetter conditions on the East Coast and Southeast this summer.

First, Let’s Take a Look at the (mid-month) Outlook for April.

It will be updated on the last day of March

The top row is what is now called the Mid-Month Outlook for next month which will be updated at the end of this month. There is a temperature map and a precipitation map. The second row is a three-month outlook that includes next month.  I think the outlook maps are self-explanatory. What is important to remember is that they 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”.

Notice that the Outlook for next month and the three-month Outlook are somewhat different, especially with regard to temperature.  This tells us that May and June will be different than April to some extent.

The full NOAA Seasonal Outlook extends through April/May/June of 2025 (yes that is more than a year out). All of these maps are in the body of the article. Large maps are provided for April and the three-month period Apr/May/June.  Small maps are provided beyond that through Apr/May/June of 2025 with a link to get larger versions of these maps.

NOAA provides an excellent discussion to support the maps. It is included in the body of this article. In some cases, one will need to click on “read more” to read the full article.  For those on my email list where I have sent the url of the article, that will not be necessary.

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

March 22, 2024Posted inweatherNo Comments

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 Mar 22 2024
Valid 12Z Fri Mar 22 2024 – 12Z Sun Mar 24 2024

…Heavy snow likely for portions of the Lower Great Lakes and interior
Northeast…

…A wet weekend ahead for the East and West Coasts…

…Significant Winter Storm likely across the Northern Plains and into the
Upper Midwest late this weekend into early next week…

A developing low pressure system will produce snow showers across parts of
the Midwest and Upper Great Lakes today. This same system will shift into
the Ohio Valley this evening and dump a swath of heavy snow from downwind
areas of Lake Ontario into much of central/northern New England. Snowfall
totals of 6-12 inches are expected by Sunday morning for those areas.

A second system will track across the Gulf Coast and dump showers and
thunderstorms over the Southeast and into the Mid-Atlantic today/tonight.
Heavy rainfall within scattered to isolated thunderstorms will spread
across the Carolina coast and up the Mid-Atlantic to Northeast urban
corridor where 1-3 inches of rainfall are possible with isolated higher
amounts. A Slight Risk of Excessive Rainfall leading to Flash Flooding
(level 2/4) is in effect from southern Maryland and the DC Metro area up
the coast through Philly, NYC and into Boston’s metro on Saturday.

A third system in the Gulf of Mexico will propagate toward the Straits of
Florida where it will stall out later today. Anomalous moisture from the
subtropical Pacific will join with moisture from the Gulf of Mexico to
produce heavy to Excessive Rainfall as well as strong to severe
thunderstorms over extreme southern portions of Florida this afternoon and
evening. Thus, Slight Risks of Excessive Rainfall (level 2/4) and Severe
Thunderstorms (level 2/5) are in effect for this area.

Elsewhere, a deep low pressure system will bring unsettled weather to the
West this weekend. Heavy rain is likely to focus over coastal areas of
northern California into southern Oregon, while heavy snow develops over
the northern/central Sierra and Shasta Siskiyous. Anywhere between 2-4
feet of snow are likely for those areas with isolated higher amounts
possible. This system will weaken as it moves inland and spreads snow
showers across the Rockies on Saturday. By Sunday, this system will begin
to redevelop over the Front Range into a significant Winter Storm.

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

Above is a 72 hour animation of the forecast. 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.

21Mar2024 Market Close & Major Financial Headlines: Markets Rally To New Highs Likely Believing Fed Is Not Serious About Its 2% Inflation Target

March 21, 2024Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed up 269 points or 0.68%,
  • Nasdaq closed up 0.20%,
  • S&P 500 closed up 0.32%,
  • Gold $2192 up $21.80,
  • WTI crude oil settled at $81 down $0.24,
  • 10-year U.S. Treasury 4.271% down 0.001 points,
  • USD index $104.04 up $0.20,
  • Bitcoin $65,220 down $2,633

Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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

The Philly Fed Manufacturing Business Outlook Survey edged down 2 points to 3.2 in March 2024. This is only the index’s fifth positive reading since May 2022. Nearly 24 percent of the firms reported increases in general activity this month, while 21 percent reported decreases; 52 percent reported no change. The index for new orders turned positive for the first time since October, rising from -5.2 in February to 5.4 in March. Historically, this index is an outlier versus other regional fed surveys in that its results are usually higher. I continue to state that manufacturing in the US remains in a recession.

In the week ending March 16, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 211,250, an increase of 2,500 from the previous week’s revised average. The previous week’s average was revised up by 750 from 208,000 to 208,750.

Total existing-home sales slid 3.3% year-over-year. The median existing-home price for all housing types in February was $384,500, an increase of 5.7% from the prior year ($363,600). NAR Chief Economist Lawrence Yun stated:

Additional housing supply is helping to satisfy market demand. Housing demand has been on a steady rise due to population and job growth, though the actual timing of purchases will be determined by prevailing mortgage rates and wider inventory choices.

The Conference Board Leading Economic Index® (LEI) for the U.S. increased by 0.1 percent in February 2024 to 102.8 (2016=100), following a 0.4 percent decline in January. At least the Conference Board is no longer forecasting a recession. Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board stated:

The U.S. LEI rose in February 2024 for the first time since February 2022. Strength in weekly hours worked in manufacturing, stock prices, the Leading Credit Index™, and residential construction drove the LEI’s first monthly increase in two years. However, consumers’ expectations and the ISM® Index of New Orders have yet to recover, and the six- and twelve-month growth rates of the LEI remain negative. Despite February’s increase, the Index still suggests some headwinds to growth going forward. The Conference Board expects annualized US GDP growth to slow over the Q2 to Q3 2024 period, as rising consumer debt and elevated interest rates weigh on consumer spending.

Here is a summary of headlines we are reading today:

  • Tokyo Tech Scientists Crack Hydrogen Storage Conundrum
  • Taxpayer Money Funds EV Infrastructure Push Despite Slow Adoption
  • Restored Import Tax Hits Russian Coal Sales to China
  • EPA’s New Car Emission Standards Doom the Gasoline Car
  • IEA Chief: No Chance of Hitting Climate Goals Without Nuclear Power
  • European Power Giant Bets on U.S. Despite Possible Trump Presidency
  • Republican Lawmakers Blame IEA for Straying From Energy Security Mission
  • Auto prices are cooling, but ‘we’re never going back to the old normal,’ expert says. Here’s what car shoppers can expect
  • “Freedom Bonds”: US Wants $50BN Bond For Ukraine Backed By Frozen Russian Assets
  • Stock market’s post-Fed rally hides some worry about officials’ commitment to 2% inflation

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 March 21, 2024

March 21, 2024Posted inweatherNo Comments

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 Mar 21 2024
Valid 12Z Thu Mar 21 2024 – 12Z Sat Mar 23 2024

…Gusty winds and snow showers linger across Maine today as the next
winter storm approaches northern New England by Saturday…

…Swath of light to moderate snow spreads from the northern Plains to the
Great Lakes by Friday; strong winter storm expected this weekend…

…Thunderstorms and heavy rain return to the Gulf Coast today before
unsettled weather shifts to the Southeast and Mid-Atlantic…

Winter is set to make a strong return over the next several days across
the Northern Tier as multiple rounds of potentially heavy snow impact
parts of the Nation. A potent storm system rapidly strengthening over
eastern Maine is already producing locally heavy snow throughout The Pine
Tree State. Additional periods of snow can be expected through this
evening, as well as gusty winds associated with the developing tight
pressure gradient. The March (weather) madness is forecast to continue by
late Friday into Saturday as the next winter storm approaches the Interior
Northeast and New England. Snowfall probabilities for at least 8 inches of
snow are high (greater than 70%) throughout northern Vermont, New
Hampshire, and much of interior Maine. Additionally, there exists modest
probabilities (50-70%) for over a foot of snow in these regions. Residents
and visitors are advised to remain weather aware and plan ahead if
traveling between Friday night and Saturday in this part of the country
due to the possibility of treacherous travel.

Snow is also anticipated to produce impacts from the northern Rockies and
northern Plains to the Great Lakes, with two systems impacting the region.
The first system is currently spreading light to moderate snow from
northeast Montana to the Dakotas and is expected to expand into the Upper
Midwest and Great Lakes by Friday. Outside of the higher terrain of
northwest Montana, the heaviest amounts are expected to stretch from
southeast North Dakota and northeast South Dakota towards southern
Wisconsin and central Michigan. More specifically, probabilities for at
least 4 inches of snow are highest throughout parts of Wisconsin and
Michigan. However, snowfall accumulation could be limited to grassy
surfaces due to the increasing March sun angle and snow falling during the
daylight hours. In case this round of snow wasn’t enough, a separate
system is forecast right on the heels of the first and expected to begin
spreading snowfall throughout the Northern Plains on Saturday. This storm
will be a part of a larger upper level trough entering the West Coast on
Friday and spreading precipitation inland. Heavy snow is likely throughout
the Sierra and high elevations of the Intermountain West, central and
northern Rockies. Additional heavy snow and winter weather impacts will
continue into early next week across much of the northern Plains.

More spring-like weather is forecast throughout the Gulf Coast today as
showers and thunderstorms develop along a forming frontal boundary over
the Texas coastline as well as underneath an upper low over the southern
Plains. A few storms could turn severe across parts of Texas and southwest
Louisiana. The Storm Prediction Center has issued a Slight Risk (level
2/5) of severe thunderstorms across southeast Texas in order to highlight
the potential for large hail, strong wind gusts, and isolated tornadoes.
Additionally, heavy rain could lead to isolated flooding concerns for
parts of the southern Plains and western Gulf Coast today. This system and
associated storminess are forecast to slide east on Friday towards the
Southeast and southern Florida. The greatest impacts are expected across
South Florida, where a few storms could become severe and heavy rain could
lead to urban flooding impacts. A Slight Risk (level 2/4) of Excessive
Rainfall has been issued for the Gold Coast. By Saturday, moisture surging
northward along a frontal boundary is expected to provide focus for heavy
rain along the Mid-Atlantic and Northeast coastline, with the potential
for flash flooding where heavier rainfall occurs.

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

Above is a 72 hour animation of the forecast. 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.

20Mar2024 Market Close & Major Financial Headlines: Dow Up 400 points With Record Close Based On Fed Suggesting Rate Cuts On the Way

March 20, 2024Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed up 401 points or 1.03%,
  • Nasdaq closed up 1.25%,
  • S&P 500 closed up 0.89%,
  • Gold $2186 up $26.30,
  • WTI crude oil settled at $82 up $1.63,
  • 10-year U.S. Treasury 4.279% down 0.018 points,
  • USD index $103.42 down $0.39,
  • Bitcoin $65,795 up $3,889

Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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

The Federal Reserve’s FOMC meeting concluded today with no adjustment to the federal funds rate as inflation remains above their 2.o% target although the economy and employment are strong. The Fed Chair Powell additionally communicated they expect up to 3 rate cuts this year. Not sure any of this makes sense as by their admission the economy is expanding which historically is coincident with raising (not cutting) the federal funds rate. Additionally, there are no signs yet that inflationary pressures have subsided. In any event, the market took the potential of rate cuts with gusto driving the markets to historical highs. The text of the meeting statement:

Recent indicators suggest that economic activity has been expanding 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.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are moving into better balance. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks.

In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. 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, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals. The Committee’s assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

Here is a summary of headlines we are reading today:

  • Saudi Aramco To Expand Natural Gas Output Capacity by 60%
  • Israel’s Gas Exports to Egypt Soar Despite Political Tensions
  • Chinese Fuel Oil Imports Jumped by 21% in the First Two Months of the Year
  • EPA issues new auto rules aimed at cutting carbon emissions, boosting electric vehicles and hybrids
  • Israel Furious After Canada Votes To Halt Arms Exports To Tel Aviv
  • Only 30% Of New Yorkers Are Happy With City’s Quality Of Life, 50% Plan On Leaving Within Five Years
  • Fed Chair Powell Explains Why The Dots ‘Are Not A Forecast’, But…

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 March 20, 2024

March 20, 2024Posted inweatherNo Comments

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 Mar 20 2024
Valid 12Z Wed Mar 20 2024 – 12Z Fri Mar 22 2024

…Snow showers and gusty winds forecast throughout the Northeast over the
next few days…

…Light to moderate snow spreads from the northern Plains to the Great
Lakes by Friday…

…Shower and thunderstorm chances return to the Southern Plains and Gulf
Coast…

A rapidly deepening low pressure system maturing over eastern Maine early
Thursday is anticipated to produce periods of snow across the Interior
Northeast and New England, while also reinforcing lake effect snow showers
in its wake. High probabilities (80-90%) for at least 4 inches of snow
exist across much of northern and central Maine, with lower probabilities
extending into northern Vermont, New Hampshire, and Upstate New York.
Gusty westerly winds up to 50 mph are also possible across parts of
Vermont and Maine on Thursday as the potent storm system creates a tight
pressure gradient over the Northeast. Additionally, the cold and dry
airmass in place combined with gusty winds will create fire weather danger
throughout the Mid-Atlantic. Red Flag Warnings have been issued across
much of Virginia.

A separate winter storm is anticipated to produce a swath of snow between
the northern Plains and Great Lakes by the end of the week, with snow
beginning today across the northern High Plains. A wave of low pressure
developing over a lingering stationary front will help trigger the
developing precipitation shield and shift snowfall eastward by Thursday
night. High probabilities for at least 4 inches of snow exist across
northwest Montana, with medium to high probabilities (40-80%) extending
from north-central Montana to central Minnesota, including southern South
Dakota. Greater chances for moderate to heavy snow shifts to the Upper
Midwest and Great Lakes by Friday, where there is the potential for up to
10-12 inches of snow. Residents should remain weather aware and up to date
with the latest forecast as uncertainty remains regarding the exact
location of heavy snowbands.

Elsewhere, unsettled weather is set to return to the southern Plains, Gulf
Coast, and parts of the West Coast. An upper low lingering over the
Southwest is expected to finally eject into the southern Plains tonight
and spark showers and thunderstorm over portions of Oklahoma and Texas. By
Thursday, rain could become heavy enough along the western Gulf Coast and
southeast Texas to produce isolated flooding concerns. This system is
forecast to progress eastward into the Gulf of Mexico on Friday, spreading
showers and thunderstorms along the entire Gulf Coast, as well as
eventually Florida and the Southeast by late Friday. However, both the
severe and flooding threat associated with this system remain marginal.
For the West Coast, light to moderate rain is expected to move inland
across northern California and the coastal Midwest on Friday. As the axis
of precipitation along a frontal boundary intersects the Sierra on Friday
night, heavy snow is possible throughout the mountainous terrain.

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

Above is a 72 hour animation of the forecast. 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.

19Mar2024 Market Close & Major Financial Headlines: Markets Continue to Advance Whilst Awaiting Outcomes Of FOMC Meeting

March 19, 2024Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed up 320 points or 0.83%,
  • Nasdaq closed up 0.39%,
  • S&P 500 closed up 0.56%,
  • Gold $2161 down $3.60,
  • WTI crude oil settled at $83 up $0.76,
  • 10-year U.S. Treasury 4.296% down 0.044 points,
  • USD index $103.82 up $0.39,
  • Bitcoin $63,047 down $3,664

Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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

Privately‐owned housing units authorized by building permits in February 2024 were 2.4% above February 2023.Privately‐owned housing starts 5.9% above February 2023. Privately‐owned housing completions were 9.6% above February 2023. New housing construction continues to be an economic bright spot.

Here is a summary of headlines we are reading today:

  • Breakthrough Catalyst Turns Sewage Into Clean Energy
  • Russia Promises To Defend Oil Infrastructure With Missiles
  • Hot Inflation Data Raises Stakes for Tomorrow’s Fed Meeting
  • Oil Gains Momentum as China’s Demand Outlook Improves
  • India Buys More U.S. Oil
  • Bitcoin Continues To Sink Despite Bullish Bets by Big Banks
  • U.S. Aims to Restock Strategic Oil Reserves by Year-End
  • Why EVs are causing a tire boom
  • There Goes The Fed’s Inflation Target: Goldman Sees Terminal Rate 100bps Higher At 3.5%
  • Netanyahu To Biden: “There’s No Way To Destroy Hamas Without Rafah Ground Op”

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 March 19, 2024

March 19, 2024Posted inweatherNo Comments

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
Tue Mar 19 2024
Valid 12Z Tue Mar 19 2024 – 12Z Thu Mar 21 2024

…Lake effect snow continues across the Great Lakes before a developing
low pressure system spreads snowfall east into northern New England on
Wednesday…

…Light to moderate snow enters the northern Plains midweek and pushes
into the Upper Midwest on Thursday…

…Shower and thunderstorm chances return to the southern Plains and
western Gulf Coast…

Cold northwest flow crossing over relatively warm lake waters will lead to
additional lake effect snow showers today, which will be further enhanced
as a low pressure system crosses from southern Ontario, Canada towards
Maine by early Thursday. Greatest probabilities for at least 4 inches of
snow exist across the eastern U.P. of Michigan and the Tug Hill Plateau of
western New York. As the low pressure system deepens over eastern Maine on
Thursday, additional snowfall is expected to develop just to its northwest
throughout northern Vermont, New Hampshire, and Maine. Medium
probabilities (40-70%) for at least 6 inches of snow is currently depicted
across this region. Gusty winds and below average temperatures are
forecast in the system’s wake, with highs only expected to reach into the
30s and 40s throughout the Great Lakes, Ohio Valley, and Northeast.

Snow potential also returns to the northern Plains and northern Rockies on
Wednesday due to the combination of a nearby stationary front and
favorable jet stream dynamics. Far northwest Montana and the Yellowstone
region currently have the best chances for accumulating snow to add up to
over 4 inches. By Thursday, a developing low pressure system along the
aforementioned stationary front is anticipated to progress eastward across
the northern Plains and towards the Upper Midwest. This will spread light
to moderate snow from parts of the Dakotas to central/southern Minnesota,
far northern Iowa, and Wisconsin. Uncertainty remains on exactly where the
heaviest snowbands may set up, but residents should remain weather aware
and prepare for potentially difficult travel across the Upper Midwest
between Thursday night and Friday morning.

For the southern Plains, rain and thunderstorm chances return on Wednesday
as an upper low lingering over the Southwest finally ejects eastward. A
few isolated thunderstorms could turn severe over western Oklahoma and the
Texas Panhandle, as well as south-central Texas. By Thursday, heavy rain
may develop along the Texas and Louisiana Gulf Coast, which could lead to
isolated flooding concerns.

As far as the temperature highlights for the short term time period, a
frost/freeze threat remains this morning from the Lower Mississippi Valley
to the Southeast as lows dip into the 20s and 30s. This cold snap is
forecast to be short-lived as temperatures warm to near average by
Thursday across the South. Meanwhile, above average temperatures are
expected today across the central Plains and Northwest. Afternoon highs
could break daily temperature records throughout the northern Great Basin
as thermometer readings soar into the 70s.

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

Above is a 72 hour animation of the forecast. 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.

18Mar2024 Market Close & Major Financial Headlines: Tech Stocks Advance Driving Market Gain

March 18, 2024Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed up 76 points or 0.20%,
  • Nasdaq closed up 0.82%,
  • S&P 500 closed up 0.63%,
  • Gold $2163 up $1.90,
  • WTI crude oil settled at $83 up $1.85,
  • 10-year U.S. Treasury 4.332% up 0.028 points,
  • USD index $103.61 up $0.18,
  • Bitcoin $67,050 down $1,304,

Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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

The Ports of Los Angeles and Long Beach move 40% of USA container volumes. In February 2024, imports surged 47% year-over-year whilst exports rose 14%. This suggests that the USA economy is improving and so is the international economy. However, as you can see from the graph below – the levels remain similar to those seen 10 years ago.

Here is a summary of headlines we are reading today:

  • China’s Solar Power Dominance Threatens Western Clean Energy Dreams
  • Biden Charges Forward With Historic Auto Emission Crackdown
  • Is a Copper Crisis Coming? Prices Hit New Highs on Smelter Cuts
  • CNOOC Makes Another Major Oil Discovery Offshore China
  • Nations Divided Over Fees on Shipping Industry Emissions
  • Saudi Aramco CEO says energy transition is failing, world should abandon ‘fantasy’ of phasing out oil
  • Bitcoin slips further below $68,000, adding to weekend losses
  • Odds of a June rate cut by Fed slip below 50%, according to this gauge

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