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US stock market daily report (August 25, 2014, Monday)

August 26, 2014, Tuesday, 04:50 GMT | 23:50 EST | 09:20 IST | 11:50 SGT
Contributed by Millennium Traders

According to the National Climatic Data Center [NCDC], 2014 is on track to set record temperatures, unique back to 1900 when temperatures were first recorded. The records set are not for the hottest or the coldest temperatures, it's the persistence of temperatures hitting above average or hitting below average. This is the first year for both cold and warm temperatures ranged far outside the 'norms'. The record setting began last winter with the infamous "polar vortex" when freezing Arctic air came in as the jet stream dipped south.

Deke Arndt, chief of climate monitoring at the NCDC said, "We haven't seen this much extreme warmth entrenched alongside this much extreme cold for this long since at least 1900." Arndt added that through July 2014, "this is the most unusual year on record". Arndt calls conditions that led to near average July temperatures overall for the U.S., as "bipolar". Arndt said, "So the very cool conditions in the Midwest and warm conditions in the West really canceled each other out." Arndt added that, "The big cold-air outbreaks in the Great Lakes and Midwest early in the year started the pattern" - of cooler temperatures east of the Rockies. He continued with, "And those were reinforced several times during the spring, and dramatically in July." as well as, "The western warmth has been persistent all year."

California continues to wither in a decade-long drought as the state heads for a year of record temperatures. The Climate Prediction Center reports expectations for above-average temperatures along the Atlantic coast into the Autumn season. A weak El Nino - a periodic cycle that can trigger rains - is predicted to hit the country, by late fall."

Dylan Dreyer, meteorologist for NBC, said about the odd conditions of cooler air from Canada pushing against the jet stream, causing it to dip farther down, creating a U-shaped path across the country, "That ridge out West keeps it warm and that trough in the East keeps it cool."

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