There's now a 40% chance for a tropical or subtropical depression forming near Florida by the Fourth of July holiday weekend.

The National Hurricane Center increased its odds that a tropical system could develop near Florida late this week or early next week as forecasters expect a wet July 4 weekend for South Florida.

There is now a 60 percent chance that a tropical depression forms near the United States this Independence Day weekend, but those along the Gulf Coast can breathe easier for now. The National Hurricane Center has shifted where forecasters think the disturbance will form from the Gulf to the southwestern Atlantic, off the Southeast coast.