As of the NHC's latest update, issued early Thursday morning, the agency said there was now a 50 percent chance of cyclone formation over the next seven days, and a low, 10 percent chance of formation in the next 48 hours.

Repeated rounds of stormy weather loitering off the Southeast coast could do more than just dampen fireworks celebrations in Florida this weekend – there’s a good chance it becomes hurricane season’s next named storm.