Brief
This report covers the 37th week of the year spanning Friday, September 8th, through Friday, September 15th, 2023. The week in numbers provides key statistics and data, economic reports, market performance and fun science stats for the week.
View the header image in full screen
Highlights
- The National Debt has increased 1.44 Trillion since the National Debt ceiling was suspended on June 1st, 2023
- Solana (SOL) remains the best performing major crypto YTD up 92.5% but that’s down from being up as high as 168% YTD
- S&P 500 Financial Sector has flipped positive YTD this week
Market summary
The US stock markets started the week strong but ended the week closing at their lows and slightly down for the week. The Wilshire 5000 Total Market index was down 0.19% for the week. Information Technology performed the worst this week, down 2.24%.
The yield curve is continuing to flatten this week with longer terms rates continuing to rise more than shorter terms rates. The 1 year Treasury Bill is at 5.432% while the 30 Year Treasury Bond is at 4.419% which is a 1.01% spread. This a large margin for an inverted yield curve but significantly better than back in June when the spread was 1.55%. In June 1 year was at 5.42% (basically the same as today) but the 30 year was at only 3.86%. This means the market is expecting higher inflation for much longer than expected as investors are not willing to lock up funds for 30 years without higher yields.
The Fed will report its rate decision this week Wednesday September 20th. The expectation is that the Fed will hold rates steady 5.50%. After this weeks CPI report came in a little higher than expected due to gas prices rising Briefing.cm had this to say:
“The key takeaway from the report is that core inflation, which is what the Fed monitors more closely, showed ongoing improvement on a year-over-year basis; however, it is still well above the Fed’s 2.0% target, reflecting a sticky quality that probably won’t compel the Fed to raise rates further at this point, but which will certainly keep the Fed in a “higher for longer” mindset.”
Briefing.com August CPI
As all eyes will be on what the Fed says this week. It’s going to be all about their outlook and any hints they drop on future rates and when they might expect to begin lowering rates.
Economic Reports
Monday, September 11th
- No notable economic reports
Tuesday, September 12th
- No notable economic reports
Wednesday, September 13th
- CPI for August increased 0.6%, less than the expected increase of 0.6% and more than last month’s increase of 0.2%
- Core CPI for August increased 0.3%, more than the expected increase of 0.2% and more than last month’s increase of 0.2%
Thursday, September 14th
- Initial Jobless Claims for last week decreased by 13,000 to 216,000 new claims, less than the expected 233,000
- Continuing Jobless Claims decreased by 40,000 to 1.68 million
- PPI for August increased 0.7%, more than the expected increase of 0.4% and more than last month’s increase of 0.3%
- Core PPI for August increased 0.2%, less than the expected increase of 0.2% and less than last month’s increase of 0.4%
- Retail Sales for August increased 0.6%, more than the expected increase of 0.2% and more than last month’s increase of 0.5%
- Retail Sales ex-auto for August increased 0.6%, more than the expected increase of 0.4% and less than last month’s increase of 0.7%
Friday, September 15th
- Industrial Production for August increased 0.4%, more than the expected increase of 0.2% and less than last month’s increase of 0.7%
- Capacity Utilization for August was 79.7%, more than the expected 79.3% and more than last month’s 79.5%
- Univ. of Michigan Consumer Sentiment – Prelim for September was 67.7, less than the expected 69.4 and less than last month’s 69.5
Next Week’s Major Reports
- Housing Starts – Tuesday, September 19th
- Building Permits – Tuesday, September 19th
- FOMC Rate Decision – Wednesday, September 20th
- Existing Home Sales – Thursday, September 21st
See more Economic News at Briefing.com or learn about each economic report in our knowledge hub.
US Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| DJIA | 34,618.24 | 41.65 | 0.12% | 34,509.95 | 34,977.97 | 4.44% | ||
| Nasdaq | 13,708.33 | -53.20 | -0.39% | 13,684.25 | 13,957.57 | 30.97% | ||
| S&P 500 | 4,450.32 | -7.17 | -0.16% | 4,447.21 | 4,511.99 | 15.91% | ||
| Wilshire 5000 | 44,009.93 | -81.70 | -0.19% | 44,009.93 | 44,528.42 | 15.59% |
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Communication Services | 229.65 | 1.26 | 0.55% | 228.61 | 232.23 | 44.10% | ||
| Consumer Discretionary | 1,353.31 | 22.85 | 1.72% | 1,353.31 | 1,379.21 | 34.59% | ||
| Consumer Staples | 756.39 | 2.77 | 0.37% | 754.50 | 762.61 | -2.92% | ||
| Energy | 701.84 | 0.87 | 0.12% | 691.75 | 711.19 | 4.39% | ||
| Financials | 577.18 | 8.18 | 1.44% | 571.10 | 580.37 | 1.31% | ||
| Health Care | 1,536.19 | 0.70 | 0.05% | 1,536.19 | 1,547.62 | -3.11% | ||
| Industrials | 885.46 | -5.33 | -0.60% | 881.52 | 890.73 | 6.50% | ||
| Information Technology | 2,986.56 | -68.36 | -2.24% | 2,986.56 | 3,068.78 | 37.49% | ||
| Materials | 512.61 | -0.65 | -0.13% | 511.09 | 518.25 | 4.71% | ||
| Real Estate | 229.57 | 0.32 | 0.14% | 226.86 | 230.74 | -1.20% | ||
| Utilities | 327.33 | 8.50 | 2.67% | 319.90 | 328.95 | -8.69% |
Global Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| UK FTSE 100 | 7,711.38 | 233.19 | 3.12% | 7,467.35 | 7,745.82 | 3.48% | ||
| France CAC 40 | 7,378.82 | 138.05 | 1.91% | 7,184.25 | 7,435.36 | 13.98% | ||
| Spain IBEX 35 | 9,549.70 | 185.10 | 1.98% | 9,330.60 | 9,642.00 | 16.05% | ||
| Germany DAX 40 | 15,893.53 | 148.78 | 0.94% | 15,564.64 | 15,989.30 | 14.15% | ||
| India BSE Sensex | 67,838.63 | 1,239.72 | 1.86% | 66,735.84 | 67,927.23 | 11.50% | ||
| China Shanghai Comp | 3,117.74 | 1.02 | 0.03% | 3,106.97 | 3,155.10 | 0.92% | ||
| HK Hang Seng 50 | 18,182.89 | -19.18 | -0.11% | 17,842.37 | 18,372.65 | -8.08% | ||
| Japan Nikkei 225 | 33,533.09 | 926.25 | 2.84% | 32,391.69 | 33,634.31 | 28.51% | ||
| Australia ASX 200 | 7,279.00 | 122.30 | 1.71% | 7,134.00 | 7,319.80 | 3.41% |
Currencies
| Currency | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| CAD Canadian Dollar | 1.3532 | -0.0109 | -0.80% | 1.3494 | 1.3661 | -0.16% | ||
| MXN Mexican Peso | 17.0799 | -0.5137 | -2.92% | 17.0511 | 17.5989 | -12.36% | ||
| COP Colombian Peso | 3,929.50 | -90.00 | -2.24% | 3,905.67 | 4,024.00 | -18.96% | ||
| BRL Brazilian Real | 4.8665 | -0.1201 | -2.41% | 4.8593 | 4.9882 | -7.92% | ||
| GBP British Pound Sterling | 0.8076 | 0.0055 | 0.69% | 0.7968 | 0.8079 | -2.30% | ||
| EUR Euro | 0.9381 | 0.0037 | 0.40% | 0.9281 | 0.9406 | 0.40% | ||
| CHF Swiss Franc | 0.8976 | 0.0045 | 0.50% | 0.8896 | 0.8979 | -2.97% | ||
| CZK Czech Koruna | 23.0388 | 0.2411 | 1.06% | 22.6475 | 23.1387 | 2.09% | ||
| NOK Norwegian Krone | 10.7474 | 0.0600 | 0.56% | 10.6164 | 10.7895 | 9.57% | ||
| SEK Swedish Krona | 11.1849 | 0.0596 | 0.54% | 11.0496 | 11.2080 | 7.16% | ||
| RUB Russian Ruble | 96.80 | -1.13 | -1.15% | 92.51 | 97.75 | 31.25% | ||
| SAR Saudi Riyal | 3.7509 | 0.0000 | 0.00% | 3.7493 | 3.7540 | -0.19% | ||
| AED UAE Dirham | 3.6730 | 0.0000 | 0.00% | 3.6726 | 3.6732 | 0.01% | ||
| INR Indian Rupee | 83.10 | 0.05 | 0.06% | 82.10 | 83.52 | 0.42% | ||
| THB Thai Baht | 35.71 | 0.04 | 0.11% | 35.42 | 35.85 | 3.15% | ||
| SGD Singapore Dollar | 1.3632 | -0.0022 | -0.16% | 1.3587 | 1.3655 | 1.66% | ||
| MYR Malaysian Ringgit | 4.6840 | 0.0075 | 0.16% | 4.6720 | 4.6876 | 6.33% | ||
| CNH Chinese Yuan | 7.2807 | -0.0843 | -1.14% | 7.2597 | 7.3661 | 5.19% | ||
| HKD Hong Kong Dollar | 7.8275 | -0.0126 | -0.16% | 7.8231 | 7.8418 | 0.27% | ||
| KRW South Korean Won | 1,329.41 | -6.96 | -0.52% | 1,322.83 | 1,336.33 | 5.35% | ||
| JPY Japanese Yen | 147.85 | 0.03 | 0.02% | 145.92 | 147.98 | 12.76% | ||
| AUD Australian Dollar | 1.5540 | -0.0136 | -0.87% | 1.5446 | 1.5679 | 6.06% | ||
| NZD New Zealand Dollar | 1.6955 | -0.0043 | -0.25% | 1.6821 | 1.7007 | 7.66% |
* Rates are quoted as the amount of local currency to buy 1 US Dollar.
Commodities
- Average US Regular Gas Price – increased 1.5 cents or 0.39% this week to $3.822 a gallon. See more about US Regular Gas Prices.
- EIA Crude Oil Inventories – increased by 3.96M barrels last week compared to prior week decrease of 6.31M
- EIA Natural Gas Inventories – increased 57 bcf last week compared to prior week increase of 33 bcf (billion cubic feet)
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Gold | 1,946.20 | 3.50 | 0.18% | 1,921.70 | 1,954.60 | 6.57% | ||
| Silver | 23.39 | 0.21 | 0.91% | 22.56 | 23.59 | -2.72% | ||
| Platinum | 929.50 | 34.70 | 3.88% | 894.50 | 934.10 | -14.17% | ||
| Palladium | 1,252.70 | 60.40 | 5.07% | 1,195.50 | 1,281.00 | -30.33% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Crude Oil | 90.77 | 3.26 | 3.73% | 86.71 | 91.23 | 13.09% | ||
| Natural Gas | 2.6440 | 0.0390 | 1.50% | 2.5410 | 2.8230 | -35.58% | ||
| Gasoline | 2.7081 | 0.0544 | 2.05% | 2.6378 | 2.7703 | 9.27% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Lumber | 500.50 | 4.00 | 0.81% | 494.50 | 507.00 | 33.93% | ||
| Steel (HRC) | 704.00 | -16.00 | -2.22% | 704.00 | 723.00 | -5.38% | ||
| Copper | 3.8010 | 0.0845 | 2.27% | 3.7125 | 3.8515 | -0.25% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Corn | 4.7625 | -0.0750 | -1.55% | 4.7350 | 4.8675 | -29.81% | ||
| Wheat | 6.0425 | 0.0850 | 1.43% | 5.7000 | 6.0750 | -23.71% | ||
| Soybeans | 13.4025 | -0.2275 | -1.67% | 13.3375 | 13.7325 | -12.06% | ||
| Coffee | 1.5915 | 0.1050 | 7.06% | 1.4730 | 1.6050 | -4.87% | ||
| Sugar | 0.2716 | 0.0085 | 3.23% | 0.2596 | 0.2779 | 35.53% | ||
| Cocoa | 3,757.00 | 103.00 | 2.82% | 3,637.00 | 3,763.00 | 44.50% | ||
| Cotton | 0.8644 | 0.0053 | 0.62% | 0.8589 | 0.8861 | 3.68% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Cattle | 1.8693 | 0.0370 | 2.02% | 1.8258 | 1.8730 | 18.38% | ||
| Lean Hogs | 0.8313 | 0.0160 | 1.96% | 0.8180 | 0.8560 | -5.22% | ||
| Feeder Cattle | 2.6448 | 0.0533 | 2.05% | 2.5843 | 2.6468 | 43.97% |
Interest Rates
- Federal Funds Effective Rate – has remained the same this week at 5.33% with the target rate rage increasing to 5.25-5.50% since the July 26th, 2023 increase of 25 basis points. See more about the Federal Funds Rate.
- 30 Year Average US Mortgage Rates – decreased this week to 7.18% from 7.12% last week. Learn more about 30 year mortgage rates.
- MBA Mortgage Applications Index – decreased by 0.8% this week compared to the prior week decrease of 2.9%
| Maturity | Week Close | Week Change | Low | Week Range | High | |
|---|---|---|---|---|---|---|
| US 1 Month | 5.383% | 0.000% | 5.359% | 5.403% | ||
| US 3 Month | 5.469% | 0.005% | 5.428% | 5.490% | ||
| US 1 Year | 5.432% | 0.020% | 5.377% | 5.446% | ||
| US 5 Year | 4.463% | 0.055% | 4.355% | 4.499% | ||
| US 10 Year | 4.331% | 0.060% | 4.219% | 4.365% | ||
| US 30 Year | 4.419% | 0.079% | 4.319% | 4.424% |
Cryptocurrencies
- Total Crypto Market Cap – increased 1.79% or 18.7B this week to 1,062B
| Rank* | Crypto | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BTC | 26,627.69 | 717.18 | 2.77% | 25,003.54 | 26,809.85 | 60.92% | ||
| 2 | ETH | 1,646.39 | 7.12 | 0.43% | 1,541.24 | 1,656.13 | 37.57% | ||
| 3 | BNB | 214.25 | -0.39 | -0.18% | 204.58 | 215.39 | -13.03% | ||
| 4 | XRP | 0.5016 | -0.0045 | -0.88% | 0.4682 | 0.5063 | 47.57% | ||
| 5 | DOGE | 0.0625 | -0.0011 | -1.81% | 0.0594 | 0.0638 | -11.08% | ||
| 6 | ADA | 0.2504 | -0.0036 | -1.40% | 0.2374 | 0.2555 | 1.58% | ||
| 7 | SOL | 19.17 | -0.44 | -2.26% | 17.41 | 19.61 | 92.46% | ||
| 8 | TRX | 0.0839 | 0.0046 | 5.80% | 0.0769 | 0.0848 | 53.88% | ||
| 9 | LTC | 66.06 | 3.32 | 5.30% | 58.05 | 66.21 | -5.62% | ||
| 10 | SHIB | 0.00000748 | -0.00000013 | -1.74% | 0.00000701 | 0.00000766 | -7.51% |
* Rank is based on market cap of non-stablecoins.
Fascinating Stats
US National Debt
The US National Debt increased 56.4 billion (Wednesday September 6th to Wednesday September 13th), to a total debt of $32,959,505,153,577.02 according to the Treasury Department. The National Debt Ceiling of 31.381 trillion has been suspended as of June 1st, 2023 until January 1st, 2025. See the Debt to the Penny.
|
6.6
|
867.8
|
276.3
|
305.6
|
45.4
|
|
|
-0.6
|
|||||
| Apr | May | Jun | Jul | Aug | Sep |
Space Weather – Solar Sunspots
The number of solar Sunspots (magnetic storms on the surface of the sun facing Earth) has increased this week to 110 from 135 last week, the sun has had 0 spotless days in 2023. We are about 2 years into a 5 year solar cycle known as Solar Maximum where sunspots are in constant very high numbers. See more about Sunspots and space weather.
Exoplanet Discoveries
NASA has cataloged 0 new exoplanets this week, the total has remained at 5,514 confirmed and catalogued Exoplanets across 4,245 confirmed Planetary Systems. 273 Exoplanets have been confirmed this year so far and there are 9,820 Exoplanet Candidates being evaluated for confirmation. Learn about all of the Exoplanets from NASA’s Exoplanet Catalog.