EconCurrents

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 8, 2024

By Sig Silber March 8, 2024weatherNo 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
300 AM EST Fri Mar 08 2024

Valid 12Z Fri Mar 08 2024 – 12Z Sun Mar 10 2024

…Snow gradually tapering off over the central High Plains as well as
central/southern Rockies…

…Threat of flash flooding and severe weather expected to sweep across
the Deep South to the Southeast through the next couple of days…

…An intensifying low pressure system will bring locally heavy rain and
strong winds from the Ohio Valley to New England late Saturday into
Sunday…

…Wet snow expected across the Great Lakes to northern New England late
Saturday to Sunday as next round of rain and mountain snow reaches the
Pacific Northwest…

Upper-level moisture arriving from the eastern Pacific in association with
a subtropical jet stream will interact with a cold air mass dipping into
the mid-section of the country through the next couple of days. This
interaction will result in active to locally severe weather to move from
west to east across many areas of the eastern half of the country through
Sunday morning. In addition, lower-level moisture from the Gulf of Mexico
will be ingested into the system. These complex interactions will result
in an axis of heavy rain and possibly severe weather to blossom later
today across the lower Mississippi Valley, spreading through the Deep
South Friday night, and then through the Southeast on Saturday.
Meanwhile, a low-level disturbance that has been sustaining locally heavy
snow over the central High Plains is forecast to weaken and allow the snow
there, as well as the snow over the central to southern Rockies, to
gradually taper off today into this evening. By Saturday, a low pressure
center is forecast to consolidate over the Ohio Valley when the system
intensifies more rapidly and tracks northeastward into the lower Great
Lakes Saturday night. Locally heavy rain and increasingly strong and
gusty winds are expected to develop from the Ohio Valley to New England
late Saturday into Sunday. Colder air wrapping around the low pressure
center is expected to change the rain to wet snow from across the Great
Lakes to portions of northern New England especially for the higher
elevations.

Much of the Great Plains will dry out on Saturday behind the low pressure
system as a high pressure system takes over. The dry weather will extend
into much of the western U.S. However, moisture associated with the next
Pacific system is scheduled to reach the Olympic Peninsula later today
with rain for the lower elevations and snow for rather high elevations.
The rain and mountain snow will expand southward across Oregon and into
northern California on Saturday into Saturday night. The Cascades will
see snow picking up intensity on Saturday as the next batch of moisture
getting ready to reach the coastline of the Pacific Northwest by early on
Sunday.

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.

07 Mar 2023 Market Close & Major Financial Headlines: Wall Street Market’s Open Higher, Nasdaq And The S&P 500 Set New Historic Highs, Finally Closing Near Session Highs

By Gary Hall March 7, 2024marketsNo Comments

Summary Of the Markets Today:

The Dow closed up 130 points or 0.34%,
Nasdaq closed up 1.51%,
S&P 500 closed up 1.03%,
Gold $2,167 up $8.50,
WTI crude oil settled at $79 down $0.16,
10-year U.S. Treasury 4.092% down 0.012 points,
USD index $102.82 down $0.550,
Bitcoin $67,690 up $415 (0.62%), All time high 68,990.90

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

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:

According to NFIB’s monthly jobs report, 37% (seasonally adjusted) of all owners reported jobs openings they could not fill in the current period, down two points from January and the lowest reading since January 2021. The percent of small business owners reporting labor quality as their top small business operating problem declined five points from January to 16%, the lowest reading since April 2020. NFIB Chief Economist Bill Dunkelberg stated:

Job openings among small businesses decreased in February to pre-pandemic levels. Employment activity has lessened somewhat as it becomes easier for owners to find qualified workers. Even with this slowdown, labor demand remains strong.

Nonfarm business sector labor productivity increased 2.6 percent year-over-year in the fourth quarter of 2023 whilst unit labor costs increased 2.5% year-over-year. So overall, there is no growth due to the unchanged productivity/cost relationship.

U.S.-based employers announced 84,638 job cuts in February, up 3% from the 82,307 cuts announced one month prior. It is 9% higher than the 77,770 cuts announced in the same month in 2023. Economically it means very little except a higher job cuts rate is usually indicative of a slowing economy.

CoreLogic shows U.S. homeowners with mortgages (roughly 62% of all properties*) have seen their equity increase by a total of $1.3 trillion since the fourth quarter of 2022, a gain of 8.6% year over year. In the fourth quarter of 2023, the total number of mortgaged residential properties with negative equity decreased by 1.1% from the third quarter of 2023, representing 1 million homes, or 1.8% of all mortgaged properties.

January 2024 exports were up 2.0% year-over-year, imports were up 0.1%, whilst the trade balance improved (which means it decreased) 4.1% year-over-year. As the import and export prices have declined year-over-year – the growth in trade was larger than it appears (meaning the US and world economies are growing).

In the week ending March 2, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 212,250, a decrease of 750 from the previous week’s revised average. The previous week’s average was revised up by 500 from 212,500 to 213,000.

Here is a summary of headlines we are reading today:

Venezuela’s State-Run Refiner Sees Profit Tumble 81%
SpaceX-Backed Flying Car Startup Gets FAA Nod
Central Banks Boost Gold Reserves to Diversify from the Dollar
Texas Wildfires Underscore Increasing Risk for Utilities
Standard Chartered: OPEC’s Latest Move Is Bullish
EU to Quit Treaty That Allows Oil Firms to Sue Governments Over Climate Policies
S&P 500 jumps 1% for fresh closing record, Nasdaq pops 1.5% to touch all-time high: Live updates
Powell says the Fed is ‘not far’ from the point of cutting interest rates
The stock market tailwind Goldman sees growing to $1 trillion in 2025 and how to play it
Leaked Hacking Files Spur Concerns Of China Weakening US For War
U.S. oil prices end lower on talk of adequate global supplies
Bitcoin’s fair value is $35,000 — but who’s counting?

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 7, 2024

By Sig Silber March 7, 2024weatherNo 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 07 2024
Valid 12Z Thu Mar 07 2024 – 12Z Sat Mar 09 2024

…Storm system to bring the threat of flash flooding and severe weather
to the Southern Plains Thursday, spreading eastward into the Lower
Mississippi Valley and Southeast Friday…

…Areas of moderate to heavy snow expected for the Central Rockies/High
Plains Thursday…

…Another Critical Risk of Fire Weather Thursday for the Southern High
Plains…

…High temperatures remain above average and Spring-like for the eastern
U.S. with below average temperatures in the West…

A complex weather system evolving over the central U.S. will bring showers
and thunderstorms with the threat of severe weather and flash flooding to
the Southern Plains/Southeast, a risk of wildfires in the High Plains, and
some areas of heavy snow over the Rockies/Central High Plains over the
next couple of days. Upper-level troughing approaching from the west will
help to deepen/organize a low pressure/frontal system over the Southern
Plains, further reinforced by a Pacific system moving in from the West.
Southerly moist Gulf return flow ahead of a sharpening dryline will bring
increasing shower and thunderstorm chances to the Southern Plains
beginning as early as Thursday morning. Increasing deep-layer shear with
the approach of the upper-level trough as well as sufficient CAPE will
bring the threat for a few severe thunderstorms, and the Storm Prediction
Center has highlighted central Texas and western Oklahoma/south-central
Kansas with Slight Risks of Severe Weather (level 2/5) for some instances
of large hail along with damaging winds and an isolated tornado. In
addition, the increasing moisture will lead to some heavier downpours, and
the threat for a couple rounds of storms evolving downstream over north
Texas Thursday evening has prompted a Slight Risk of Excessive Rainfall
(level 2/4) for some scattered instances of flash flooding, particularly
for urban areas in the DFW metroplex. Very dry conditions will exist west
of the dryline over the Southern High Plains, which when combined with
warm temperatures and gusty winds has prompted a Critical Risk of Fire
Weather (level 2/3) form the Storm Prediction Center. To the northwest, a
secondary frontal system pushing southward will bring much colder air into
the Central Rockies/High Plains. Areas of moderate to heavy snow are
expected to continue through the day Thursday for portions of the Central
Rockies, particularly along the Front Range in Colorado. In addition,
confidence has increased in a round of snow bands moving through portions
of northeastern Colorado into western Nebraska bringing heavy snow rates
of 1-2″+ per hour and several inches of accumulating snow, with Winter
Storm Warnings now in effect. The snow should come to an end for the High
Plains into Friday morning, with chances in the mountains shifting
southward into the Southern Rockies.

The system will continue eastward Friday, with an expanding area of shower
and thunderstorms spreading into the Midwest, Lower Mississippi Valley,
and Southeast. A reinforcing influx of more anomalous moisture flowing
northward with a warm front from the Gulf will bring a higher threat for
more widespread heavy downpours compared to Thursday, with the expectation
that clusters of storms will bring repeated rounds of rainfall along the
frontal boundary into Friday night. A Moderate Risk of Excessive Rainfall
(level 3/4) has been introduced from east-central Alabama into northern
Georgia where wet antecedent conditions from the night before will further
help increase the threat for some scattered to numerous instances of flash
flooding, particularly for urban areas in the greater Atlanta region. A
broader Slight Risk is in place from the Lower Mississippi Valley eastward
through the Southern Appalachians. Another round of severe weather is also
expected, with a Slight Risk of Severe Weather stretching from eastern
Texas/southeastern Oklahoma through the Lower Mississippi Valley and
towards the central Gulf Coast. Large hail, damaging winds, and a few
tornadoes are all possible.

Elsewhere, the noted Pacific system eventually reaching the Plains will
first move eastward from California into the Great Basin/Southwest on
Thursday, with some light to moderate rain/snow showers for the Great
Basin and a few thunderstorms in the deserts of the Southwest. Some light
to moderate showers will taper off through the day Thursday in southern
New England as a frontal system departs the region, with the potential a
bit of snow may mix in. Some additional light snowfall accumulations will
be possible further north into Maine. Showers and thunderstorms will also
continue in South Florida Thursday ahead of a cold front. Finally, an
approaching Pacific system will bring increasing precipitation chances to
the Pacific Northwest later Thursday and into Friday morning.

Temperature wise, highs will remain above average for much of the eastern
U.S. ahead of the frontal systems approaching from the west over the
Plains. Highs will range from the 40s and 50s in the Upper Midwest east
through the Great Lakes and New England; the 50s and 60s from the Middle
Mississippi Valley east through the Ohio Valley and into the Mid-Atlantic;
and the 60s and 70s from the Lower Mississippi Valley into the Southeast.
Portions of the Central/Southern Plains will be above average Thursday,
with highs in the 50s and 60s in the Central Plains and 70s and 80s in the
Southern Plains. Cold fronts passing through with the central U.S. system
will bring some much cooler temperatures Friday, with highs dropping to
the 40s and 50s for western portions of the Plains. The Northern Plains
will recover Friday following a chilly day Thursday, with highs in the 20s
and low 30s rising into the upper 30s and 40s. Temperatures will generally
remain below average in the West, with 30s and 40s for the Pacific
Northwest and Great Basin, 50s and 60s for California, and 60s and 70s
into the Southwest.

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.

06 Mar 2023 Market Close & Major Financial Headlines: Wall Street Market’s Gap Upward At The opening Bell, Roller Coaster Sideways, Then Closed About Where It Started This Morning

By Gary Hall March 6, 2024marketsNo Comments

Summary Of the Markets Today:

The Dow closed up 76 points or 0.20%,
Nasdaq closed up 0.58%,
S&P 500 closed up 0.51%,
Gold $2,155 up $13.10,
WTI crude oil settled at $79 up $0.92,
10-year U.S. Treasury 4.108% down 0.029 points,
USD index $103.36 down $0.440,
Bitcoin $66,930 up $4,805 (7.73%), All time high 68,990.90

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

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:

Private employers added 140,000 jobs in February according to ADP. While employment growth remained steady, pay gains for job-changers accelerated for the first time in more than a year, rising to 7.6 percent from 7.2 percent. 140,000 job gain is not outstanding but is high enough to cover population growth. Nela Richardson, hief Economist at ADP stated:

Job gains remain solid. Pay gains are trending lower but are still above inflation. In short, the labor market is dynamic, but doesn’t tip the scales in terms of a Fed rate decision this year.

January 2024 sales of merchant wholesalers were down 1.5% from January 2023. Total inventories were down 2.5% year-over-year. The January inventories/sales ratio for merchant wholesalers was 1.36. The January 2023 ratio was 1.38. This translates to little growth or inventory level change year-over-year.

The number of job openings changed little at 8.9 million on the last business day of January 2024. Over the month, the number of hires and total separations were little changed at 5.7 million and 5.3 million, respectively. This JOLTS report suggests future jobs growth should be little changed over the growth seen in the last year.

Fed Chair Jerome Powell today provided limited guidance for the future of monetary policy in 2024. He said it is “likely” that rates are at their current peak. He continued, “If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year. But the economic outlook is uncertain, and ongoing progress toward our 2 percent inflation objective is not assured. Reducing policy restraint too soon or too much could result in a reversal of progress we have seen in inflation and ultimately require even tighter policy to get inflation back to 2 percent. At the same time, reducing policy restraint too late or too little could unduly weaken economic activity and employment. In considering any adjustments to the target range for the policy rate, we will carefully assess the incoming data, the evolving outlook, and the balance of risks.

According to the Federal Reserve’s Beige Book for February 2024:

Economic activity increased slightly, on balance, since early January, with eight Districts reporting slight to modest growth in activity, three others reporting no change, and one District noting a slight softening. Consumer spending, particularly on retail goods, inched down in recent weeks. Several reports cited heightened price sensitivity by consumers and noted that households continued to trade down and to shift spending away from discretionary goods. Activity in the leisure and hospitality sector varied by District and segment; while air travel was robust overall, demand for restaurants, hotels, and other establishments softened due to elevated prices, as well as to unusual weather conditions in certain regions. Manufacturing activity was largely unchanged, and supply bottlenecks normalized further. Nevertheless, delivery delays for electrical components continued. Ongoing shipping disruptions in the Red Sea and Panama Canal did not generally have a notable impact on businesses during the reporting period, although some contacts reported rising pressures on international shipping costs. Several reports highlighted a pickup in demand for residential real estate in recent weeks, largely owing to some moderation in mortgage rates, but noted that limited inventories hindered actual home sales. Commercial real estate activity was weak, particularly for office space, although there were reports of robust demand for new data centers, industrial and manufacturing spaces, and large infrastructure projects. Loan demand was stable to down, and credit quality was generally healthy despite a few reports of rising delinquencies. The outlook for future economic growth remained generally positive, with contacts noting expectations for stronger demand and less restrictive financial conditions over the next 6 to 12 months.

Here is a summary of headlines we are reading today:

Tesla Faces Production Disruption at German Factory After Eco-Terrorist Attack
Russia, Iran, and Turkey Forge New Economic Alliance in South Caucasus
Cutting-Edge AI Identifies New Catalysts for Hydrogen Electrolysis
WTI Crude Gains 3% on Tight Supply
Oil Inches Higher on Fuel Inventory Draws
NYCB shares rebound after troubled regional bank announces $1 billion capital raise
Powell reinforces position that the Fed is not ready to start cutting interest rates
S&P 500, Nasdaq close higher Wednesday, regaining some ground from recent sell-off: Live updates
Foot Locker shares plunge 30% as retailer posts holiday loss, delays key financial target
Bitcoin prices recover after retreating from new record: CNBC Crypto World

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 6, 2024

By Sig Silber March 6, 2024weatherNo 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 06 2024
Valid 12Z Wed Mar 06 2024 – 12Z Fri Mar 08 2024

…Wet Wednesday in store from the Ohio/Tennessee Valleys to the East
Coast, with locally heavy rainfall and the risk of scattered flash
flooding along the I-95 urban corridor…

…Showers and thunderstorms expected along the California coast
Wednesday…

…Strengthening storm system in the Plains to bring showers and
thunderstorms with the threat of severe weather Thursday…

…Above average temperatures persist for much of the central/eastern U.S.
as conditions remain below average in the West…

Wet weather will continue for portions of the eastern U.S. from the
Ohio/Tennessee Valleys eastward to the East Coast in a complex pattern.
Ongoing showers will continue along a slow moving cold front stretching
from the Interior Northeast southwestward through the Ohio Valley,
expected to make little eastward progress today and eventually stalling
along the Appalachians. Meanwhile, a combination of upper-level energies
and associated waves of low pressure along a quasi-stationary frontal
boundary draped along the East Coast southwestward through the Southeast
will spread showers and thunderstorms northeastward through the day
Wednesday from the Southeast into the Mid-Atlantic and New England. A
couple axis of locally heavier rainfall are forecast to occur to the east
of the low pressure waves where enhanced very moist, onshore flow from the
Atlantic will exist. Slight Risks of Excessive Rainfall (level 2/4) are
outlooked for the North Carolina Outer Banks and for the coastal
Mid-Atlantic into southern New England, from New Jersey northeastward to
far southwest Maine. Areal average rainfall totals of 1-2″, locally 3″,
may lead to some scattered instances of flash flooding, especially for
urban areas along the I-95 corridor. In addition, some locally heavy
downpours will be possible in South Florida ahead of the trailing frontal
boundary. The front/low pressure waves will begin to push away from the
coast overnight Wednesday into Thursday morning, with rain chances
lingering longest into the day Thursday in New England. Some wintry
precipitation will mix in for portions of New England as colder air
spreads southward behind the departing system, and some light snow
accumulations will be possible into Maine.

In the West, an upper-level low/Pacific frontal system will move southward
along the California coast and eventually inland, bringing showers and
storms to the area Wednesday. Some locally heavy rainfall will be possible
through southern California, which may lead to some isolated flash
flooding concerns given the very sensitive conditions still in place over
the area after recent heavy rainfall events. Some snow showers will linger
through portions of the higher elevations of the southern Pacific
Northwest/northern California and northern Great Basin, but will come to
an end as moisture flow follows the Pacific system southward. A light
wintry mix for the central Great Basin and showers for the Desert
Southwest will follow the system as it progresses eastward on Thursday.

Precipitation chances will also increase for the center of the country as
a couple different systems pass through the region. To the north, an
upper-level wave will help to deepen/organize a low pressure system over
the Northern Plains, forecast to lift northeastward through the Upper
Midwest and into Canada Wednesday-Thursday. Some light showers will be
possible ahead of the system, but more precipitation is expected to follow
in the colder air on the backside of the system track along the Canadian
border. Some light to moderate snow accumulations are expected through
Thursday morning from northern North Dakota into northwestern Minnesota.
Further south, the upper-level trough over the West will approach the
Central/Southern Plains from the west, helping to induce lee cyclogenesis
along the Rockies and organize/strengthen a frontal system over the Plains
by Thursday. A broad area of showers and thunderstorms is expected in the
warm sector ahead of the system over the Central/Southern Plains into the
Middle/Lower Mississippi Valley as moist Gulf return flow spreads
northward, especially into Thursday evening/night. Strengthening deep
layer shear as stronger winds arrive with the approach of the upper-level
trough may lead to some severe thunderstorms, with the Storm Prediction
Center highlighting western Oklahoma into northwest/central Texas in a
Slight Risk (level 2/5) for the threat of some large hail as well as
damaging winds and an isolated tornado. Some locally heavy downpours and
an isolated risk of flash flooding will exist more broadly across the
region as well. Finally, the system will bring some moderate higher
elevation/mountain snow to portions of the Central Rockies, with some
lighter snow mixing in for the Central High Plains.

A familiar pattern of above average temperatures for central/eastern
portions of the country and below average temperatures in the West looks
to continue for at least the next couple of days. Highs for many locations
will be upwards of 10-20 degrees above average from the Plains to the East
Coast. Forecast highs generally range from the 40s and 50s from the Upper
Midwest east through the Great Lakes and New England; the 50s and 60s from
the Central Plains east through the Middle Mississippi/Ohio Valleys into
the Mid-Atlantic; and the 60s and 70s from the Southern Plains east
through the Lower Mississippi Valley into the Southeast and Florida. A
pocket of much colder temperatures in the 20s and 30s behind a cold front
in the far Northern Plains will begin to spread southward following the
front, with highs dropping into the 30s and 40s for portions of the
Northern/Central Plains Thursday after a warmer Wednesday. Forecast highs
in the West range from the 30s and 40s in the Pacific Northwest and Great
Basin, the 50s and 60s in California, and the 60s and 70s in the Desert
Southwest.

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.

Mercedes Soria: Life is not the same without ballroom dancing

By Frank Li March 6, 2024UncategorizedNo Comments

For this very successful software engineer, ballroom dancing came as an unexpected hobby before tuning itself into so much more: a way of life where discipline, hard work and family were the ingredients not to just win competitions, but to live and fulfill life. Winning medals never changed who she was and through it all, she and her twin sister became affectionately known in the ballroom world as “team Soria.” She thanks her 19-dance training for keeping her in shape and constantly learning everything.

05 Mar 2023 Market Close & Major Financial Headlines: Markets Tumble At The Opening, Dow Off Almost 500 Points, Nasdaq Down 2%, Markets Finally Closing Over 1% In The Red

By Gary Hall March 5, 2024marketsNo Comments

Summary Of the Markets Today:

The Dow closed down 405 points or 1.04%,
Nasdaq closed down 1.65%,
S&P 500 closed down 1.02%,
Gold $2,138 up $11.40,
WTI crude oil settled at $78 down $0.55,
10-year U.S. Treasury 4.135% down 0.084 points,
USD index $103.76 down $0.070,
Bitcoin $62,909 down $5,799 (8.56%), All time high 68,990.90

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

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 CoreLogic Home Price Index (HPI^™) and HPI Forecast^™ for January 2024 show year-over-year home price gains reached the highest rate in a year, but growth is expected to begin slowing in the coming months, falling to 2.6% by early 2025. Both higher mortgage rates and inventory shortages are exacerbating the nation’s long-running housing affordability problem, which particularly affects areas of the country where wages tend to be lower. Despite affordability issues, many younger Americans are finding a path to homeownership, with millennials accounting for more than half of home purchase applications between 2020 and 2023. Meanwhile, baby boomers who already have significant financial reserves can pay for homes entirely in cash, which further increases challenges for other buyers. Dr. Selma Hepp, chief economist for CoreLogic stated:

U.S. annual home price growth strengthened to 5.8% in January 2024. And while the acceleration continues to reflect the residual impact of strong appreciation in early 2023, the annual rate of growth is expected to taper off in coming months. Home prices further increased in late 2023 despite high mortgage rates, which surged to the highest level since the beginning of the millennium. But metro areas that have struggled with the impact of higher rates continue to see downward movement on home prices. Generally, pressures from higher mortgage rates tend to occur in markets where the higher cost of homeownership pushes against the affordability ceiling.

New orders for manufactured goods in January 2024 is down 1.6% year-over-year. This is comparable to the Federal Reserves Industrial Production for manufacturing which is down 0.8% year-over-year.

In February 2024, the ISM Services PMI^® registered 52.6 percent, 0.8 percentage point lower than January’s reading of 53.4 percent. The New Orders Index expanded in February for the 14th consecutive month after contracting in December 2022 for the first time since May 2020; the figure of 56.1 percent is 1.1 percentage points higher than the January reading of 55 percent. When this index fall below 55, it indicates a soft economy and possibly a recession.

Here is a summary of headlines we are reading today:

MIT’s Superconducting Magnets Mark Major Fusion Milestone
U.S. Mines Race to Restart As Uranium Prices Skyrocket
How Sweden’s Entry Into NATO Reshapes Baltic and Arctic Security
Natural Gas Prices Could Spike As EU Prepares to Slash More Russian Gas
Oil Prices Fall as China Fails to Impress Markets With Growth Pledge
Dow closes lower by about 400 points, Apple shares drag tech down: Live updates
Bitcoin rises to record above $69,000, then quickly tumbles 8%
Super Tuesday live updates: Trump looks to finish off Haley as Biden shifts to general election
Here’s what drove bitcoin’s climb to a new all-time high above $69,000: CNBC Crypto World
Ukraine Overnight Sea Drone Attack Sinks Another Russian Ship In Black Sea
Dow Jones ends down over 400 points and Nasdaq suffers worst day in 3 weeks as Apple shares slump
10-year Treasury yield books largest daily decline in over a month

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 5, 2024

By Sig Silber March 5, 2024weatherNo 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 05 2024
Valid 12Z Tue Mar 05 2024 – 12Z Thu Mar 07 2024

…A wet weather pattern for large areas to the east of the Mississippi
River…

…Heavy higher elevation snows continue for northern portions of the West
Tuesday with improving conditions by Wednesday…

…Much above average temperatures expected for much of the lower 48 to
the east of the Rockies over the next few days…

Widespread showers and thunderstorms bringing areas of moderate rainfall
continue this morning along a slow-moving cold front stretching from the
Great Lakes into the Middle and Lower Mississippi Valley. Storm chances
will shift into the Lower Great Lakes southwestward through the Ohio and
Tennessee Valleys through the day Tuesday as the front makes some eastward
progress. To the south, another frontal boundary along the Gulf Coast will
lift northward, bringing with it additional Gulf moisture and storm
chances into the Southeast. A wave of low pressure is expected to develop
along the boundary overnight Tuesday as the system shifts northeastward
into the Carolinas. More widespread moderate to locally heavy rainfall is
expected through the region with an isolated threat of flash flooding.
Meanwhile, a coastal low in the Mid-Atlantic will continue northward
bringing light to moderate showers from the Mid-Atlantic into New England
Tuesday. By Wednesday, the low pressure system over the Southeast will
begin to better organize and shift northeastward along the coast towards
the Mid-Atlantic/New England. The frontal system over the Great Lakes will
move eastward into the Northeast as well, helping to focus a renewed round
of heavier showers along a northeastward axis from the coastal
Mid-Atlantic through New England. A Slight Risk of Excessive Rainfall
(level 2/5) is in place for portions of southern New England where the
heaviest rainfall will overlap wet antecedent conditions and areas with
higher stream flows, which may result in some scattered instances of flash
flooding. Some wintry precipitation may mix in north of the cold front
over northern New England overnight Wednesday.

One more day of heavy higher elevation/mountain snows continues in the
West as an energetic jet stream sits over a quasi-stationary boundary and
an influx of Pacific moisture focused through northern California and the
southern Pacific Northwest into the northern Great Basin and Rockies.
Several more inches of snow are forecast in the regional mountain ranges
from the southern Cascades and northern Sierra east to the Tetons in
Wyoming. Colder air settling in with the front has brought snow levels
lower, bringing snow to interior lower elevation valley locations as well
from southern Oregon into western Idaho. Another Pacific storm system
dropping southward along the California Coast will help to shift the
influx of Pacific moisture southward by Wednesday, finally bringing
improving conditions as snowfall tapers off. Along the coast, some
locally heavy rainfall is expected Tuesday for northern California,
shifting southward with the system into southern California Wednesday.
Here, more sensitive conditions due to recent high profile rainfall events
may lead to an isolated but nonzero threat of flash flooding.

Elsewhere, an upper-level shortwave will help to deepen/better organize a
low pressure/frontal system lingering over the Northern Plains Wednesday,
leading to increasing precipitation chances. Some accumulating snowfall
looks possible along the Canadian border from northern North Dakota into
northern Minnesota by early Thursday. Further south, another organizing
frontal system will also bring increasing precipitation chances to the
Central and Southern Plains, with some showers and thunderstorms forecast
overnight Wednesday into early Thursday.

High temperatures will remain well above average by 10-20 degrees for the
lower 48 east of the Rockies through midweek. Some even greater anomalies
will be found in the Upper Ohio Valley/Lower Great Lakes Tuesday as
temperatures once again reach into the 70s, 25-35 degrees above average.
The cold front passing through by Wednesday will make temperatures
relatively cooler, but still above average, with highs in the upper 40s to
low 60s. The warmest temperatures will be found along the western Gulf
Coast into southern Texas with highs in the mid-80s to low 90s. A few
daily record-tying/breaking highs may be reached in both locations.
Otherwise, along the East Coast, forecast highs range between the 40s and
50s in New England, 50s and 60s in the Mid-Atlantic, 60s and 70s for the
Southeast, and 70s and 80s into Florida. For central portions of the
country, highs will be in the 40s and 50s for the Northern Plains/Upper
Midwest, 50s and 60s from the Central Plains through the Middle
Mississippi Valley and into the Lower Ohio Valley, and the 60s and 70s for
the Southern Plains and Lower Mississippi Valley. In the West, highs will
remain near or below average as mean troughing remains in place, with
temperatures ranging from the 20s and 30s for the Northern
Rockies/adjacent High Plains, 30s and 40s for the Great Basin and Pacific
Northwest, 50s and 60s for California, and 60s and 70s in the Southwest.

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.

04 Mar 2023 Market Close & Major Financial Headlines: S&P 500, Gold Set New Records, Bitcoin Nears All-time High, Markets Close In The Red

By Gary Hall March 4, 2024marketsNo Comments

Summary Of the Markets Today:

The Dow closed down 98 points or 0.25%,
Nasdaq closed down 0.41%,
S&P 500 closed down 0.12%,
Gold $2,126 up $29.80,
WTI crude oil settled at $79 down $1.21,
10-year U.S. Treasury 4.217% up 0.035 points,
USD index $103.83 down $0.030,
Bitcoin $67,648 up $4,835 (7.70%), All time high 68,990.90

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

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:

No releases today

Here is a summary of headlines we are reading today:

WTI Sheds Over 1.6% As Demand Trumps Everything Else
Exxon, Petronas Set to Extend Exploration Offshore Suriname
Low Refining Capacity and Sanctions Responsible for Russia’s Oil Output Cuts
India Expects $5 Billion Investment in Natural Gas Pipelines in North
Analysts Forecast “Lower for Longer” Prices in LNG Market
U.S. Northeast Gasoline Reserve Could Be Sold Off
Bitcoin tops $67,000 as it nears 2021 all-time high
Stock rally stalls as week begins, Nasdaq falls from record despite Nvidia gain: Live updates
Supreme Court rules states can’t remove Trump from presidential election ballot
Ford sales jump 10.5% in February, led by gains in hybrids and EVs
Bitcoin inches closer to all-time high as cryptocurrency tests $67,000: CNBC Crypto World
Powell To Face Pressure On Rates From Democrats, Bank Rules From Republicans
Dow Jones ends lower as investors await Powell testimony

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 4, 2024

By Sig Silber March 4, 2024weatherNo 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
312 AM EST Mon Mar 04 2024
Valid 12Z Mon Mar 04 2024 – 12Z Wed Mar 06 2024

…Increasing shower and thunderstorm chances ahead of a slow moving cold
front through the Midwest, Mississippi Valley, and Southern Plains Monday,
and the Ohio Valley and Southeast Tuesday…

…Another coastal storm is forecast to bring a new round of rain to the
Mid-Atlantic Monday and New England Tuesday…

…Weather remains unsettled for northern portions of the West with
additional very heavy snowfall expected for higher mountain elevations…

…Much above average, Spring-like temperatures for much of the
central/eastern U.S.; wildfire threat remains elevated Monday for the
southern High Plains…

An almost quasi-stationary cold front extending southwestward from the
Great Lakes into the central/southern Plains will make slow progress
through the day Monday as ridging remains in place to the East. The
stagnant pattern will allow for additional moist return flow from the Gulf
today that will bring increasing shower and thunderstorm chances across
portions of the Midwest, Mississippi Valley, and Southern Plains compared
to Sunday, especially by Monday night. Some moderate to locally heavy
rainfall is possible along with an isolated threat for some severe
thunderstorms. Greater moisture closer to the central/western Gulf Coast
may lead to some more intense downpours from eastern Texas into the Lower
Mississippi Valley, with an isolated threat for flash flooding. A
relatively greater threat for a few more scattered instances of flash
flooding will exist over southeastern Louisiana where the combination of
repeated, back-building thunderstorms producing heavy downpours exists,
and a Slight Risk of Excessive Rainfall (level 2/5) has been introduced
for the area. The front will begin to make faster eastward progress by
Tuesday, bringing shower and thunderstorm chances into the Ohio/Tennessee
Valleys and Southeast. The chances for heavier rainfall will follow a
similar pattern for Monday, with more moderate rainfall for northern
locations and a greater chance for locally heavier rainfall and an
isolated instance or two of flash flooding from the Lower Mississippi
Valley into the Southeast. A Slight Risk of Excessive Rainfall will also
remain in effect for southeastern Louisiana as storms linger. To the east,
another coastal low pressure system is expected to deepen/better organize
along the Carolina coast Monday, bringing increasing shower chances
spreading northward into the Mid-Atlantic Monday and New England Tuesday.
Some moderate to locally heavy rainfall will be possible, particularly for
coastal locations of the Carolinas and Mid-Atlantic Monday.

An energetic upper-level jet stream and another low pressure/frontal
system approaching the West Coast will keep unsettled weather in place
over northern portions of the West the next couple of days. Additional
heavy higher elevation, mountain snowfall is expected over the southern
Cascades into the northern Sierra through Monday. Moisture spreading
inland will help enhance snowfall over portions of the northern Great
Basin Monday and into the northern Rockies Tuesday as well, particularly
for southern Idaho into western Wyoming. Snowfall will also linger into
the northern Cascades and central Rockies through Monday with generally
lighter amounts expected away from the influx of greater moisture. While
most of the accumulating snowfall should be limited to higher elevations,
portions of southern Oregon in particular will likely see at least a few
inches for inland lower elevation/valley locations as colder air pushes
southward and snow levels lower. Some moderate to locally heavy rainfall
is expected for coastal locations of the Pacific Northwest/northern
California, particularly near the California/Oregon border.

Widespread much above average, Spring-like high temperatures will persist
across the central/eastern U.S. to start the upcoming work week. The
greatest anomalies of 25-35 degrees will focus on the middle Mississippi
Valley northeastward into the Great Lakes and Ohio Valley Monday. Numerous
daily record-tying/breaking highs are possible as temperatures reach into
the 70s for most locations. The cold front pushing through the Midwest
will bring temperatures down into the 50s and 60s for the middle
Mississippi Valley into the upper Great Lakes Tuesday, though still above
average. Forecast highs range in the 70s and 80s for the southern Plains
Monday and Tuesday. Persistently dry conditions accompanied by lee
troughing and gusty winds will keep the threat for wildfires elevated
along portions of the southern High Plains according to the Storm
Prediction Center at least through Monday. Along the East Coast, highs are
forecast to range between the 40s and 50s for New England, 50s and 60s for
the Mid-Atlantic, and 70s to low 80s for the Southeast/Florida. In the
West, highs will remain cooler and below average, ranging from the 30s and
40s in the Pacific Northwest and much of the Interior West, 50s in
northern/central California, 60s in southern California, and 60s and 70s
into the Desert Southwest. The coldest spot in the country will be in the
northern Rockies/adjacent High Plains, where highs will be in the teens
and 20s.