Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted October 29, 2024

October 29, 2024Posted inweatherNo Comments

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

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

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Tue Oct 29 2024
Valid 12Z Tue Oct 29 2024 – 12Z Thu Oct 31 2024

…Moderate to heavy snow over parts of the Northern/Central Rockies on
Tuesday…

…Temperatures will be 20 to 35 degrees above average over parts of the
Central Plains to the Great Lake/Ohio Valley…

…There is a Slight Risk of severe thunderstorms over parts of the
Middle/Lower Mississippi Valley and Central/Southern Plains on Wednesday…

A wave of low pressure along a front over the Great Basin/Central Rockies
will move northeastward to the Upper Mississippi Valley by Thursday. Ahead
of the front, temperatures will be 20 to 35 degrees above average over
parts of the Central Plains to the Great Lake/Ohio Valley. A warm front
extending from the Upper Mississippi Valley to the Ohio Valley moves
northeastward into Eastern Canada by Wednesday. Ahead of the warm front,
showers and thunderstorms will develop over parts of the Great Lakes,
ending by Tuesday afternoon. On Tuesday evening, rain will develop over
parts of the Lower Great Lakes/Northeast and continue into Wednesday
afternoon.

On Tuesday, a wave of low pressure will produce moderate to heavy snow
over parts of the Northern/Central Rockies and higher elevations of the
eastern Great Basin. Rain will also develop over parts of the lower
elevations of the Southwest, Great Basin, and Central Rockies.

Moreover, weak onshore flow off the Pacific will produce rain over parts
of the Pacific Northwest through late Tuesday evening. Light snow will
continue on Wednesday over parts of the Northern/Central Rockies through
late Wednesday night.

Meanwhile, southeasterly flow off the Gulf of Mexico will create scattered
showers and thunderstorms over parts of the Western Gulf Coast on Tuesday
into Wednesday. Similarly, easterly flow off the Atlantic will produce
showers and thunderstorms over parts of Florida through Thursday morning.

Further, moist air flowing northward over the Plains will extend into the
Upper Great Lakes on Wednesday, creating showers and thunderstorms over
parts of the Northern Plains and Upper Mississippi Valley. Showers and
strong to severe thunderstorms will develop ahead of the front over parts
of the Middle Mississippi Valley to the Central/Southern Plains.
Therefore, the SPC has issued a Marginal Risk (level 1/5) of severe
thunderstorms over parts of the Middle Mississippi Valley to
Central/Southern Plains through Wednesday morning. The hazards associated
with these thunderstorms are frequent lightning, severe thunderstorm wind
gusts, hail, and a minimal threat of tornadoes.

On Wednesday, showers and severe thunderstorms will develop along and
ahead of the front over parts of the Middle/Lower Mississippi Valley and
Central/Southern Plains. Therefore, the SPC has issued a Slight Risk
(level 2/5) of severe thunderstorms over these areas from Wednesday
through Thursday morning. The hazards associated with these thunderstorms
are frequent lightning, severe thunderstorm wind gusts, hail, and a few
tornadoes.

Furthermore, moderate to heavy rain will develop along the front parts of
the Mississippi Valley and the Central/Southern Plains. Therefore, the WPC
has issued a Marginal Risk (level 1/4) of excessive rainfall over parts of
the Mississippi Valley and parts of the Central/Southern Plains from
Wednesday through Thursday morning. The associated heavy rain will create
localized areas of flash flooding, affecting areas that experience rapid
runoff with heavy rain.

Elsewhere, another front will come onshore over the Pacific Northwest and
California on Wednesday into early Thursday morning. The system will
produce rain and higher-elevation snow over parts of the Northwest into
Northern/Central California.

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.

28 OCT 2024 Market Close & Major Financial Headlines: Major Indexes Opened Moderately Higher, Traded Sideways, Closed Fractionally Lower, But In The Green

October 28, 2024Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed up 273 points or 0.65%,
  • Nasdaq closed up 49 points or 0.26%,
  • S&P 500 closed up 15 points or 0.27%,
  • Gold $2,755 up $0.10 or 0.00%,
  • WTI crude oil settled at $68 down $3.94 or 5.49%,
  • 10-year U.S. Treasury 4.274 down 0.042 points or 0.340%,
  • USD index $104.28 up $0.02 or 0.02%,
  • Bitcoin $69,558 up $1,878 or 2.70%, (24 Hours)

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

Today’s Highlights

US stocks experienced a notable rise on Monday, marking the beginning of a significant week filled with major earnings reports from tech giants, an inflation update, and a crucial jobs report. This week is pivotal as five of the “Magnificent Seven” companies—Alphabet, Apple, Amazon, Microsoft, and Meta—are set to release their earnings reports. Investors are particularly focused on how these companies’ investments in artificial intelligence (AI) are translating into profits, as they collectively represent a significant portion of the S&P 500’s performance. Alongside earnings, investors are preparing for key economic data, including the Federal Reserve’s preferred inflation gauge and the October jobs report. These figures will be crucial for determining future interest rate decisions. Oil prices fell sharply, with futures dropping about 6%, the largest single-day decline in over two years. This drop followed Israel’s limited military actions in Iran, which did not target oil facilities, alleviating some market fears. Amidst these market movements, Trump Media & Technology Group stock surged by up to 20% following Donald Trump’s controversial rally in Manhattan over the weekend.

Click here to read our current Economic Forecast – October 2024 Economic Forecast: One More Recession Flag Removed Yet Little Headway On Inflation

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

The Texas Fed Manufacturing Index in October 2024 is the highest it has been in two years rising 18 points to 14.6. This comes with new orders, unfilled orders, and employment in negative territory.  The positive elements of the index are inflationary such as inventory and prices paid. I am not a fan of surveys – and there is no indication that the recession in manufacturing has ended in Texas (or the US for that matter).

Here is a summary of headlines we are reading today:

  • Avoiding All-Out War: The Calculus Behind Israel’s Attack
  • Oil Continues Downward Slide Shedding Over 6%
  • Geopolitical Tensions Cast Shadow Over EV Industry
  • Nvidia-Backed Ubitus Seeks Nuclear-Powered Data Centers in Japan
  • Profit at India’s Top Refiner Slumps by 99% Due to Weak Margins
  • Average U.S. Gasoline Price Set to Drop Below $3 for the First Time Since 2021
  • LG Energy Reports 40% Drop in Profits as EV Demand Tanks
  • Oil Prices Drop Dramatically After Israel’s Limited Strikes on Iran
  • Ford Motor earnings are out — here are the numbers
  • The stock market’s best six-month period starts this week, especially for small caps
  • Microsoft calls out Google for running ‘shadow campaigns’ in Europe to influence regulators
  • The Revolution Continues: The Ranks Of Anti-Fed Republicans Grow
  • Sloppy 5 Year Auction Tails Despite Record Foreign Demand
  • McDonald’s earnings: Weaker demand, E. coli outbreak in focus — but sales seen at highest in years

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

Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted October 28, 2024

October 28, 2024Posted inweatherNo Comments

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

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

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Mon Oct 28 2024
Valid 12Z Mon Oct 28 2024 – 12Z Wed Oct 30 2024

…Moderate to heavy snow over parts of the Northern/Central Rockies on
Tuesday…

…Temperatures will be 20 to 30 degrees above average over parts of the
Plains and Mississippi Valley…

…There is a Marginal Risk of severe thunderstorms over parts of the
Upper/Middle Mississippi Valley and Central/Southern Plains on Tuesday…

A front extending from the Northern Plains to the Great Basin and Southern
California will move eastward to the Upper Mississippi Valley/Upper Great
Lakes southwestward to the Southern High Plains by Wednesday. Ahead of the
front, temperatures will be 20 to 30 degrees above average over parts of
the Plains and Mississippi Valley.

In the wake of the front, onshore flow off the Pacific will produce rain
over the Pacific Northwest and Northern California through Tuesday night.
In addition, scattered light snow will develop over the highest elevations
of the Cascades, the Sierra Nevada Mountains, the Northern Intermountain
Region, and the Great Basin through Wednesday. Lower-elevation rain will
also develop over parts of the Great Basin, Southwest, and
Northern/Central Rockies.

Further, intensifying upper-level energy over the Four Corners Region will
aid in producing moderate to heavy snow over parts of the Northern/Central
Rockies and higher elevations of the eastern Great Basin on Tuesday.

Meanwhile, southeasterly flow off the Gulf of Mexico will create scattered
rain over parts of the Western Gulf Coast on Monday. On Tuesday, the
atmosphere along the Western Gulf Coast will become more unstable, so
showers and thunderstorms will develop over parts of the Western Gulf
Coast. Similarly, easterly flow off the Atlantic will produce rain over
parts of Florida on Monday. On Tuesday, the atmosphere will become more
unstable, so showers and thunderstorms will develop over parts of Florida.

Moreover, moist air will pool ahead of the front over the Great Lakes on
Monday, creating showers and thunderstorms. Rain will develop over parts
of the Northeast on Tuesday into Wednesday morning and also over parts of
the Northern/Central Plains and Upper Mississippi Valley on Tuesday.

Additionally, moisture will pool along the boundary over parts of the
Upper/Middle Mississippi Valley to Central/Southern Plains, producing
strong to severe thunderstorms. Therefore, the SPC has issued a Marginal
Risk (level 1/5) of severe thunderstorms over parts of the Upper/Middle
Mississippi Valley to Central/Southern Plains from Tuesday into Wednesday
morning. The hazards associated with these thunderstorms are frequent
lightning, severe thunderstorm wind gusts, hail, and a minimal threat of
tornadoes.

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.

Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted October 27, 2024

October 27, 2024Posted inweatherNo Comments

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

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

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Sun Oct 27 2024
Valid 12Z Sun Oct 27 2024 – 12Z Tue Oct 29 2024

…Scattered light rain will develop over the Carolinas…

…Rain and higher elevation snow over parts of the Northeast Sunday
night…

…Rain moves into the Northwest and light snow over the higher elevations
of the Western States…

A front lingering along the Gulf Coast States will slowly dissipate by
Monday. Upper-level impulses over the Ohio and Lower Mississippi Valleys
will produce scattered rain over parts of the Lower Mississippi Valley
through late Sunday morning. In addition, upper-level dynamics will
develop light rain over parts of the Carolinas early Sunday through early
Monday morning. Furthermore, onshore flow off the Atlantic will create
scattered rain over parts of Florida from Monday afternoon through Tuesday.

Meanwhile, a front over the Pacific Northwest will move inland to the
Upper Mississippi Valley to the Central Plains and then to the Southwest
by Tuesday. The storm will produce rain over parts of the Pacific
Northwest and Northern California through Sunday afternoon. Onshore flow
off the Pacific will produce rain over the Pacific Northwest and Northern
California through Monday night. As the front passes over the Northwest
into the Great Basin, scattered light snow will develop over the highest
elevations of the Cascades, the Sierra Nevada Mountains, the Northern
Intermountain Region, and the Great Basin through Tuesday.

As the leading edge of the boundary moves into the Upper Midwest, rain
with embedded thunderstorms will develop over parts of the Great Lakes
from Monday evening into Tuesday. Furthermore, ahead of the front,
temperatures will be 10 to 25 degrees above average over the Plains.

Elsewhere, a front will move southward out of Central Canada on Sunday,
advancing into the Northeast by Sunday evening and then out over the
Atlantic. This front will produce scattered rain and snow over the higher
elevations of the Northeast through early Monday 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.

Looking Back at September 2024 Weather for the U.S. and the World – Posted on October 26, 2024

October 26, 2024Posted inweatherNo Comments

Much of the information in this report comes from the monthly emails I receive from John Bateman. He does public outreach for NOAA and in particular NCEI. I could find the same information and more on the NCEI website but John Bateman produces a good summary so I use it or most of it. I also add additional information from NCEI or other NOAA websites. At the end of the article, I provide links that will get you to the full reports and much additional information. This month NCEI which is based in North Carolina had a lot of computer problems so the email from John Bateman  is combined  U.S. and World and not as complete as usual.

 My comments if any are in boxes like this one.

I start with the trends of September 2024 Temperature looking at North America and then the World both land and water. There is a graphic for just CONUS but the format is different and it is not as easy to read.

This is the temperature trend for the month of  September in North America. It covers a larger geographical area than just CONUS but I find it easier to read. It looks like the September temperature was a record.

The temperature for the world, land and ocean did not hit a new record.

The temperature for the world, (land only) also did not hit a new record. Notice that land temperatures increase faster than land and ocean as water takes more energy.

To read the rest of this article some will have to click on “Read More”.

Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted October 26, 2024

October 26, 2024Posted inweatherNo Comments

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

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

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Sat Oct 26 2024
Valid 12Z Sat Oct 26 2024 – 12Z Mon Oct 28 2024

..Showers and thunderstorms over parts of the Lower Mississippi/Ohio
Valleys on Saturday…

…Rain and higher elevation snow over parts of the Northeast Sunday
night…

…Rain moves into the Pacific Northwest and light snow over the higher
elevations of the Cascades and Northern Intermountain Region…

A front extending from the Northeast Coast to the Mid-Atlantic and then
westward to the Southern Plains moves eastward over the Atlantic while the
western end of the boundary lingers over the Gulf Coast States through
Monday. In the wake of the front, scattered light rain will develop over
parts of the Northeast through Saturday night. Along the southern edge of
the boundary, scattered showers and thunderstorms will develop over parts
of the Lower Mississippi/Ohio Valleys through Saturday evening. Light rain
will develop over parts of the Carolinas early Sunday through early Monday
morning. Furthermore, onshore flow off the Atlantic will create scattered
rain over parts of Florida through Saturday afternoon/evening.

Meanwhile, a front will move onshore over the Pacific Northwest Saturday
morning, moving inland to the Northern Plains and the Great Basin by
Monday. The storm will produce rain over parts of the Pacific Northwest
through Monday. The rain will move into Northern California late Saturday
evening and continue into Sunday evening. Additionally, overnight Sunday,
light snow will develop over the highest elevations of the Cascades and
the Northern Intermountain Region.

Elsewhere, a front will move southward out of Central Canada on Sunday
morning, advancing into the Northeast by Sunday evening, producing
scattered rain and snow over the higher elevations of the Northeast
through Sunday night.

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 OCT 2024 Market Close & Major Financial Headlines: The Dow Records Its Fifth Session Decline While The S&P 500 And Bitcoin Join In Today’s Session Losses After Nasdaq Records A New Historic High

October 25, 2024Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 260 points or 0.61%,
  • Nasdaq closed up 103 points or 0.56%, (Closed at 18,519, New Historic high 18,690
  • S&P 500 closed down 2 points or 0.03%,
  • Gold $2,755 up $5.90 or 0.22%,
  • WTI crude oil settled at $72 up $1.48 or 2.08%,
  • 10-year U.S. Treasury 4.236 down 0.034 points or 0.273%,
  • USD index $104.31 up $0.25 or 0.24%,
  • Bitcoin $66,703 down $1,601 or 2.11%, (24 Hours)
  • Baker Hughes Rig Count: U.S. unchanged at 585 Canada -1 to 216
    U.S. Rig Count is unchanged from last week at 585 with oil rigs down 2 to 480, gas rigs up 2 to 101 and miscellaneous rigs unchanged at 4.

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

Today’s Highlights

S&P 500 closed up slightly, ending a three-day losing streak. Major indexes logged weekly losses overall. Treasury yields rose. Uncertainty remains over the Federal Reserve’s next move on interest rates. November US jobs report due next Friday. Tight presidential election a week later. Earnings reports from “Magnificent Seven” tech companies next week from Alphabet, Meta, Microsoft, Apple, and Amazon. Capital One and Discover merger is expected to be completed in early 2025, subject to approvals.. Apple was downgraded by KeyBanc from Sector Weight to Underweight, citing concerns over iPhone sales and upgrades.

Click here to read our current Economic Forecast – October 2024 Economic Forecast: One More Recession Flag Removed Yet Little Headway On Inflation

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

New orders for manufactured durable goods in September 2024 was down 2.1% year-over-year. Manufacturing remains in a recession in the US. Although durable goods import data is not available for September, durable goods imports has averaged growth of $25 billion per month in 2024 – while domestic produced durable goods have been declining at the rate of $5 billion per month in 2024. So the bottom line is that Americans are buying durable goods – just not from US manufacturers. Having said that, the number one exporter in the US is Boeing who is having  issues with quality as well as a strike.

University of Michigan Consumer Sentiment lifted for the third consecutive month, inching up to its highest reading since April 2024. Surveys of Consumers Director Joanne Hsu opinion:

Sentiment is now more than 40% above the June 2022 trough. This month’s increase was primarily due to modest improvements in buying conditions for durables, in part due to easing interest rates. The upcoming election looms large over consumer expectations. Overall, the share of consumers expecting a Harris presidency fell from 63% last month to 57% in October. Sentiment of Republicans, who believe that a Trump presidency would be better for the economy, rose 8% on growing confidence that their preferred candidate would be the next president. In contrast, sentiment declined 1% for Democrats. As usual, Independents remain in between, with a 4% gain in sentiment this month. Regardless of the eventual winner, a sizable share of consumers will likely update their economic expectations based on the results of the election.

Here is a summary of headlines we are reading today:

  • TSMC’s Chip Plant In Arizona Achieves Higher Yields Than Taiwan
  • Oil Rig Count Dips as WTI Gains 2%
  • Israel Targets Hezbollah’s Military, Political, and Economic Power in Lebanon
  • Bearish Factors Build in Oil Markets Despite Middle East Tensions
  • Nasdaq rises to hit new all-time high Friday as rest of market languishes: Live updates
  • Alphabet’s self-driving unit Waymo closes $5.6 billion funding round as robotaxi race heats up in the U.S.
  • Tesla shares close at highest in 13 months as post-earnings rally continues
  • Microsoft boss gets 63% pay rise despite asking for reduction
  • 10-year Treasury yield ends with biggest six-week climb in a year as consumer sentiment rises
  • Here’s when Adam Silver thought Warner Bros. Discovery might lose its NBA broadcast deal

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

Weather Outlook for the U.S. for Today Through at Least 22 Days and a Six-Day Forecast for the World: posted October 25, 2024

October 25, 2024Posted inweatherNo Comments

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

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

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Fri Oct 25 2024
Valid 12Z Fri Oct 25 2024 – 12Z Sun Oct 27 2024

…Showers and thunderstorms over parts of the Middle Mississippi/ Ohio
Valleys…

…Rain over parts of the Northeast…

…Rain moves into the Pacific Northwest…

A wave of low pressure over the Middle Mississippi Valley will move
northeastward off the Northeast Coast by Saturday evening. The system will
produce showers and thunderstorms over parts of the Middle
Mississippi/Ohio Valleys through Friday evening. The system will also
create rain over parts of the Great Lakes through Saturday afternoon.
Overnight Friday, scattered rain will develop over parts of the Northeast
through early Sunday morning. Moreover, scattered rain will develop along
the front over the Southern Mid-Atlantic from Saturday evening into
Sunday. Rain will also grow over parts of the Lower Mississippi Valley
from early Saturday into Sunday.

Meanwhile, a front will move onshore over the Pacific Northwest Friday
night and inland through Sunday morning. The storm will produce rain over
parts of the Pacific Northwest late Friday night. The rain will continue
to inch farther inland on Saturday, moving into Northern California late
Saturday night and continuing into Sunday.

Elsewhere, onshore flow off the Atlantic will trigger scattered rain over
parts of Florida from Saturday afternoon into Sunday.

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

Learn about wave patterns HERE.

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

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

24 OCT 2024 Market Close & Major Financial Headlines: The Dow Records The Fourth Session Decline While The Small Caps And Bitcoin Reclaim Some Weekly Losses

October 24, 2024Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 141 points or 0.33%,
  • Nasdaq closed up 139 points or 0.76%,
  • S&P 500 closed up 12 points or 0.21%,
  • Gold $2,749 up $19.10 or 0.07%,
  • WTI crude oil settled at $71 down $0.26 or 0.35%,
  • 10-year U.S. Treasury 4.210 up 0.032 points or 0.258%,
  • USD index $104.02 down $0.41 or 0.39%,
  • Bitcoin $68,144 up $1,894 or 2.78%, (24 Hours)

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

Today’s Highlights

The Nasdaq Composite gained, led by Tesla’s strong performance. The S&P 500 closed up while the Dow Jones Industrial Average fell extending losses from the previous day. Tesla reported its biggest quarterly profit in over a year. Tesla shares surged more than 20%, its best day in over a decade. CEO Elon Musk forecasted 20% to 30% EV sales growth next year. The company grew adjusted EBITDA margins for the first time in over a year. IBM shares fell over 6% following a third-quarter revenue miss. Boeing shares sagged around 1% after striking workers rejected a pay deal.

Click here to read our current Economic Forecast – October 2024 Economic Forecast: One More Recession Flag Removed Yet Little Headway On Inflation

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

Sales of new single-family houses in September 2024 were up 6.3% above September 2023. The median sales price of new houses sold in September 2024 was $426,300. The average sales price was $501,000. The seasonally-adjusted estimate of new houses for sale at the end of September was 470,000. This represents a supply of 7.6 months at the current sales rate. New home construction is one of the bright spots in the economy.

The Chicago Fed National Activity Index (CFNAI ) three-month moving average, CFNAI-MA3, decreased to –0.19 in September from –0.14 in August. A zero value for the CFNAI has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth. The CFNAI is my favorite coincident indicator, and shows a continuing weak economy.

Kansas Fed manufacturing activity declined modestly in October 2024. The month-over-month composite index was -4, up from -8 in September. Manufacturing remains in a recession in the US.

In the week ending October 19, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 238,500, an increase of 2,000 from the previous week’s revised average. The previous week’s average was revised up by 250 from 236,250 to 236,500. There is no sign of a recession in this data.

Here is a summary of headlines we are reading today:

  • Valero Could Be Next To Shutter California Oil Refineries
  • Mckinsey: Europe’s Data Center Power Demand To Triple By 2030
  • Russia’s Advance Threatens to Cripple Ukraine’s Steel Industry
  • Saudi Oil Export Revenues Hit Three-Year Low as Prices Decline
  • Tesla Stock Soars After Q3 Earnings Beat
  • China’s Coal Imports Could Decline in 2025
  • Tesla stock soars 20%, heads for best day in over a decade on Musk’s 2025 growth projection
  • S&P 500 rises to end three-day losing run, lifted by surge in Tesla: Live updates
  • U.S. will be ‘more pro-crypto’ after this election, no matter who wins, says Ripple CEO Garlinghouse
  • Bitcoin eyes $68,000 as it reclaims some weekly losses: CNBC Crypto World
  • Hezbollah Targets Tel Aviv With Large Iranian Missiles Launched From Underground Silos
  • Why stock investors have been on edge over the prospects of a total sweep for Republicans

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