Jerry, which had formed Sunday, was accelerating toward tropical storm killing cooler waters and wasn't expected to strengthen Monday, the US National Hurricane Center said.
Forecasters said Jerry was predicted to remain over open waters far from land and pass in between the Azores and southeastern Canada later Monday.
At 9 a.m. GMT, Jerry was centered about 995 miles west of the Azores, with top sustained winds near 40 mph, just above the 38 mph cutoff for a tropical depression. The storm was moving north-northeast around 15 mph.
Jerry is the 10th named storm of the Atlantic hurricane season and its winds extended outward about 105 miles. It is forecast to be absorbed by a larger non-tropical low pressure system by Tuesday morning.
In the Pacific, meanwhile, Ivo was downgraded from a tropical storm to a depression early Sunday, the Hurricane Center said.
By Sunday afternoon, the center of Ivo was about 90 miles southwest of the southern tip of Mexico's Baja California peninsula and moving east near 5 mph.
The depression - which had maximum sustained winds of 30 mph - is expected to pass over or near the southern tip of Baja near the resort cities of Cabo San Lucas and San Jose del Cabo, a region that was hit early this month by Hurricane Henriette. Rainfall of 1 to 2 inches is forecast for the area.