New Winter Storm Provides February's First Weak Economic Data Excuse

Tyler Durden's picture

Winter storm warnings and advisories stretched from Utah to Pennsylvania this morning. As Bloomberg reports, hundreds of flights across the US are being canceled as the threat of snow, ice, and sleet (and up to 8 inches of snow in New York City) "impact the morning commute." The storm will move across the central U.S., bringing showers and thunderstorms to the Central Gulf Coast tomorrow morning and expanding northward into the Tennessee Valley by Tuesday evening, the weather service said. In other words, we have our first good excuse for a crimped consumer not spending once again in February - the weather.

 

Ironically, this fresh winter storm - Nika - is named for the Greek Goddess of Victory.

 

Via Bloomberg,

Hundreds of flights across the U.S. are being canceled as a winter storm threatens to drop snow, ice and sleet from Utah to Pennsylvania, including as much as 8 inches (20 centimeters) in New York City.

 

Light snow began falling in New York before 5 a.m. local time. The storm will have its greatest impact through mid-day, almost certainly tying up flights and making it hard for people to reach work, Bill Goodman, a National Weather Service meteorologist in Upton, New York said yesterday.

 

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Winter storm warnings and advisories stretched from Utah to Pennsylvania this morning. The storm was also expected to drop as much as 8 inches on Ohio. As much as two inches an hour of snow may fall in New Jersey after 8 a.m., the Weather Service said.

 

Washington may get as much as 8 inches after 4 p.m., and Boston less than 0.5 inch as the storm focuses more on the corridor from Philadelphia to New York.

 

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The storm will move across the central U.S., bringing showers and thunderstorms to the Central Gulf Coast tomorrow morning and expanding northward into the Tennessee Valley by Tuesday evening, the weather service said.

 

Stock bulls can only hope this negative (or USDJPY 102) does not impact what is perhaps the best day of the year for equities. The last time we had a decline of more than 0.1% on this day was back in 2002.