Brief
This report covers the 39th week of the year spanning Friday, September 22nd, through Friday, September 29th, 2023. The week in numbers provides key statistics and data, economic reports, market performance and fun science stats for the week.
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Highlights
- US Government averts shutdown with 45 day stopgap bill (Reuters article)
- The National Debt has increased 1.66 Trillion since the National Debt ceiling was suspended on June 1st, 2023
- Solana (SOL) remains the best performing major crypto YTD up 104.6% but that’s down from being up as high as 168% YTD
- US Stocks down 4.84% for September
- 30 Year average mortgage rates hit new highs not seen seen since December 2000 at 7.31% this week
Market summary
The US stock market dropped a little more this week down an average of 0.53% according to the Wilshire 5000 Total Market Index. Stocks closed the month of September out loosing an average of 4.84%. S&P 500 Utilities sector was down the most for the week dropping 6.99% followed next by Consumer Staples down 2.09%.
Global stocks also had a bad week with all major indexes down, Japan’s Nikkei was down the most, dropping 1.68% for the week.
The dollar mostly got stronger this week, likely from continued momentum from the Feds remarks last week.. The Treasury Yield curve to continue to flatten this week with longer term rates increasing more than shorter term rates. A week ago the 1 year was paying 0.92% more than the 30 year, while this week that gap is closing with the 1 year only paying 0.77% more than the 30 year. Check out the Economic Indicators page to see the current Yield Curve.
Crypto was up this week with Tron (TRX) rising the most, up 6.38% of the top 10 crypto by market cap. Notably, ETH was up 4.26% for the week closing at 1,670.27.
Economic Reports
Monday, September 25th
- No notable economic reports
Tuesday, September 26th
- Consumer Confidence for September was 103.0, less than the expected 105.0 and less than last month’s 108.7
- New Home Sales for August decreased 8.7% to annually adjusted rate of 675K, less than the expected rate of 695K and less than last month’s rate of 739K
Wednesday, September 27th
- Durable Orders for August increased 0.2%, more than the expected decrease of 0.2% and more than last month’s decrease of 5.6%
- Durable Goods –ex transportation for August increased 0.4%, more than the expected increase of 0.3% and more than last month’s increase of 0.1%
Thursday, September 28th
- Initial Jobless Claims for last week decreased by 2,000 to 204,000 new claims, less than the expected 215,000
- Continuing Jobless Claims increased by 12,000 to 1.67 million
- GDP – Third Estimate for Q2 increased 2.1%, less than the expected increase of 2.1% and less than last quarter’s increase of 2.1%
- GDP Deflator – Third Estimate for Q2 increased 1.7%, less than the expected increase of 2.0% and less than last quarter’s increase of 2.0%
- Pending Home Sales for August decreased 7.1%, less than the expected decrease of 1.0% and less than last month’s increase of 0.5%
Friday, September 29th
- Personal Income for August increased 0.4%, less than the expected increase of 0.5% and more than last month’s increase of 0.2%
- Personal Spending for August increased 0.4%, less than the expected increase of 0.5% and less than last month’s increase of 0.9%
- PCE Prices for August increased 0.4%, less than the expected increase of 0.4% and more than last month’s increase of 0.2%
- PCE Prices – Core for August increased 0.1%, less than the expected increase of 0.2% and less than last month’s increase of 0.2%
Next Week’s Major Reports
- ISM Manufacturing Index – Monday, October 2nd
- Construction Spending – Monday, October 2nd
- ISM Non-Manufacturing Index – Tuesday, October 3rd
- Non-farm Payrolls – Friday, October 6th
- Unemployment – Friday, October 6th
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 | 33,507.50 | -456.34 | -1.34% | 33,306.30 | 34,017.53 | 1.09% | ||
| Nasdaq | 13,219.32 | 7.51 | 0.06% | 12,963.16 | 13,382.98 | 26.30% | ||
| S&P 500 | 4,288.05 | -32.01 | -0.74% | 4,238.63 | 4,338.51 | 11.68% | ||
| Wilshire 5000 | 42,422.24 | -225.45 | -0.53% | 42,194.58 | 42,815.79 | 11.42% |
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Communication Services | 222.21 | -0.03 | -0.01% | 220.09 | 223.84 | 39.43% | ||
| Consumer Discretionary | 1,264.00 | -3.40 | -0.27% | 1,245.24 | 1,275.84 | 25.71% | ||
| Consumer Staples | 727.36 | -15.53 | -2.09% | 727.36 | 739.72 | -6.64% | ||
| Energy | 694.19 | 8.71 | 1.27% | 690.76 | 708.16 | 3.25% | ||
| Financials | 552.16 | -8.89 | -1.58% | 552.16 | 561.90 | -3.09% | ||
| Health Care | 1,501.22 | -16.87 | -1.11% | 1,501.22 | 1,526.27 | -5.32% | ||
| Industrials | 857.57 | -4.10 | -0.48% | 852.50 | 865.64 | 3.15% | ||
| Information Technology | 2,905.56 | -2.48 | -0.09% | 2,869.64 | 2,921.63 | 33.76% | ||
| Materials | 494.54 | 0.82 | 0.17% | 490.44 | 497.67 | 1.02% | ||
| Real Estate | 213.82 | -3.44 | -1.58% | 211.27 | 216.89 | -7.98% | ||
| Utilities | 299.20 | -22.47 | -6.99% | 298.58 | 321.04 | -16.54% |
Global Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| UK FTSE 100 | 7,608.08 | -75.83 | -0.99% | 7,524.11 | 7,684.82 | 2.10% | ||
| France CAC 40 | 7,135.06 | -49.76 | -0.69% | 7,033.83 | 7,204.96 | 10.22% | ||
| Spain IBEX 35 | 9,428.00 | -73.98 | -0.78% | 9,307.10 | 9,523.90 | 14.57% | ||
| Germany DAX 40 | 15,386.58 | -170.71 | -1.10% | 15,138.66 | 15,572.14 | 10.51% | ||
| India BSE Sensex | 65,828.41 | -180.74 | -0.27% | 65,423.39 | 66,406.01 | 8.20% | ||
| China Shanghai Comp | 3,110.48 | -21.95 | -0.70% | 3,102.27 | 3,131.21 | 0.69% | ||
| HK Hang Seng 50 | 17,809.66 | -247.79 | -1.37% | 17,352.83 | 18,046.89 | -9.97% | ||
| Japan Nikkei 225 | 31,857.62 | -544.79 | -1.68% | 31,674.42 | 32,722.22 | 22.09% | ||
| Australia ASX 200 | 7,048.60 | -20.20 | -0.29% | 7,002.80 | 7,076.50 | 0.14% |
Currencies
| Currency | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| CAD Canadian Dollar | 1.3579 | 0.0096 | 0.71% | 1.3418 | 1.3588 | 0.18% | ||
| MXN Mexican Peso | 17.4206 | 0.2074 | 1.20% | 17.1718 | 17.8170 | -10.61% | ||
| COP Colombian Peso | 4,072.50 | 96.00 | 2.41% | 3,971.52 | 4,129.64 | -16.01% | ||
| BRL Brazilian Real | 5.0326 | 0.0966 | 1.96% | 4.9319 | 5.0793 | -4.77% | ||
| GBP British Pound Sterling | 0.8197 | 0.0028 | 0.34% | 0.8148 | 0.8258 | -0.83% | ||
| EUR Euro | 0.9459 | 0.0068 | 0.72% | 0.9369 | 0.9535 | 1.23% | ||
| CHF Swiss Franc | 0.9156 | 0.0086 | 0.95% | 0.9049 | 0.9226 | -1.03% | ||
| CZK Czech Koruna | 23.0917 | 0.1698 | 0.74% | 22.8660 | 23.2360 | 2.32% | ||
| NOK Norwegian Krone | 10.7263 | -0.0247 | -0.23% | 10.5752 | 10.8677 | 9.35% | ||
| SEK Swedish Krona | 10.9222 | -0.2064 | -1.85% | 10.8173 | 11.1477 | 4.65% | ||
| RUB Russian Ruble | 98.00 | 1.70 | 1.77% | 94.35 | 98.02 | 32.88% | ||
| SAR Saudi Riyal | 3.7506 | -0.0006 | -0.02% | 3.7474 | 3.7553 | -0.20% | ||
| AED UAE Dirham | 3.6730 | -0.0001 | 0.00% | 3.6725 | 3.6733 | 0.01% | ||
| INR Indian Rupee | 83.18 | 0.06 | 0.07% | 81.66 | 83.43 | 0.52% | ||
| THB Thai Baht | 36.56 | 0.55 | 1.53% | 35.90 | 36.84 | 5.60% | ||
| SGD Singapore Dollar | 1.3661 | 0.0010 | 0.07% | 1.3607 | 1.3741 | 1.88% | ||
| MYR Malaysian Ringgit | 4.6953 | 0.0078 | 0.17% | 4.6840 | 4.7085 | 6.59% | ||
| CNH Chinese Yuan | 7.2956 | -0.0031 | -0.04% | 7.2812 | 7.3277 | 5.40% | ||
| HKD Hong Kong Dollar | 7.8313 | 0.0104 | 0.13% | 7.8137 | 7.8327 | 0.32% | ||
| KRW South Korean Won | 1,352.93 | 17.37 | 1.30% | 1,330.32 | 1,359.73 | 7.21% | ||
| JPY Japanese Yen | 149.37 | 1.06 | 0.71% | 148.25 | 149.72 | 13.92% | ||
| AUD Australian Dollar | 1.5545 | 0.0027 | 0.17% | 1.5380 | 1.5795 | 6.09% | ||
| NZD New Zealand Dollar | 1.6686 | -0.0087 | -0.52% | 1.6529 | 1.6952 | 5.96% |
* Rates are quoted as the amount of local currency to buy 1 US Dollar.
Commodities
- Average US Regular Gas Price – decreased 4.1 cents or 1.06% this week to $3.837 a gallon. See more about US Regular Gas Prices.
- EIA Crude Oil Inventories – decreased by 2.17M barrels last week compared to prior week decrease of 2.14M
- EIA Natural Gas Inventories – increased 90 bcf last week compared to prior week increase of 64 bcf (billion cubic feet)
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Gold | 1,866.10 | -79.50 | -4.09% | 1,862.30 | 1,946.80 | 2.18% | ||
| Silver | 22.45 | -1.39 | -5.85% | 22.33 | 23.93 | -6.61% | ||
| Platinum | 915.90 | -18.20 | -1.95% | 880.80 | 935.50 | -15.42% | ||
| Palladium | 1,256.00 | -0.10 | -0.01% | 1,210.00 | 1,299.00 | -30.14% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Crude Oil | 90.79 | 0.76 | 0.84% | 88.19 | 95.03 | 13.12% | ||
| Natural Gas | 2.9290 | 0.0500 | 1.74% | 2.7960 | 2.9970 | -28.63% | ||
| Gasoline | 2.3995 | -0.1124 | -4.47% | 2.3925 | 2.5791 | -3.18% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Lumber | 501.50 | 19.00 | 3.94% | 484.50 | 510.00 | 34.20% | ||
| Steel (HRC) | 704.00 | -1.00 | -0.14% | 690.00 | 725.00 | -5.38% | ||
| Copper | 3.7375 | 0.0415 | 1.12% | 3.6240 | 3.7860 | -1.92% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Corn | 4.7675 | -0.0050 | -0.10% | 4.7375 | 4.9000 | -29.73% | ||
| Wheat | 5.4150 | -0.3800 | -6.56% | 5.4000 | 5.9675 | -31.63% | ||
| Soybeans | 12.7500 | -0.2125 | -1.64% | 12.7250 | 13.1700 | -16.34% | ||
| Coffee | 1.4615 | -0.0500 | -3.31% | 1.4495 | 1.5215 | -12.64% | ||
| Sugar | 0.2648 | -0.0080 | -2.93% | 0.2616 | 0.2732 | 32.14% | ||
| Cocoa | 3,418.00 | -164.00 | -4.58% | 3,398.00 | 3,583.00 | 31.46% | ||
| Cotton | 0.8715 | 0.0124 | 1.44% | 0.8580 | 0.8989 | 4.53% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Cattle | 1.8793 | 0.0085 | 0.45% | 1.8635 | 1.9150 | 19.02% | ||
| Lean Hogs | 0.7178 | -0.0040 | -0.55% | 0.7163 | 0.7610 | -18.16% | ||
| Feeder Cattle | 2.5248 | -0.0667 | -2.58% | 2.5163 | 2.5955 | 37.44% |
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 – increased this week to 7.31% from 7.19% last week. Learn more about 30 year mortgage rates.
- MBA Mortgage Applications Index – decreased by 1.3% this week compared to the prior week increase of 5.4%
| Maturity | Week Close | Week Change | Low | Week Range | High | |
|---|---|---|---|---|---|---|
| US 1 Month | 5.373% | -0.013% | 5.360% | 5.412% | ||
| US 3 Month | 5.462% | -0.022% | 5.446% | 5.496% | ||
| US 1 Year | 5.474% | 0.021% | 5.437% | 5.509% | ||
| US 5 Year | 4.616% | 0.043% | 4.556% | 4.751% | ||
| US 10 Year | 4.579% | 0.139% | 4.436% | 4.684% | ||
| US 30 Year | 4.703% | 0.175% | 4.528% | 4.812% |
Cryptocurrencies
- Total Crypto Market Cap – increased 0.84% or 20.9B this week to 1,074B
| Rank* | Crypto | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BTC | 26,910.69 | 333.08 | 1.25% | 26,029.07 | 27,234.96 | 62.63% | ||
| 2 | ETH | 1,670.27 | 68.18 | 4.26% | 1,570.45 | 1,687.38 | 39.57% | ||
| 3 | BNB | 215.16 | 3.88 | 1.84% | 207.72 | 217.33 | -12.66% | ||
| 4 | XRP | 0.5214 | 0.0085 | 1.65% | 0.4940 | 0.5452 | 53.41% | ||
| 5 | DOGE | 0.0622 | 0.0006 | 1.03% | 0.0599 | 0.0623 | -11.57% | ||
| 6 | ADA | 0.2486 | 0.0038 | 1.55% | 0.2421 | 0.2551 | 0.86% | ||
| 7 | SOL | 20.38 | 0.93 | 4.79% | 18.86 | 20.46 | 104.58% | ||
| 8 | TRX | 0.0892 | 0.0053 | 6.38% | 0.0831 | 0.0899 | 63.71% | ||
| 9 | LTC | 65.79 | 1.36 | 2.11% | 63.29 | 66.56 | -6.02% | ||
| 10 | SHIB | 0.00000734 | 0.00000001 | 0.13% | 0.00000718 | 0.00000767 | -9.24% |
* Rank is based on market cap of non-stablecoins.
Fascinating Stats
US National Debt
The US National Debt increased 56.1 billion (Wednesday, September 20th to Wednesday, September 27th), to a total debt of $33,126,911,471,375.81 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.
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| 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 decreased this week to 109 from 184 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 5,523 confirmed and catalogued Exoplanets across 4,250 confirmed Planetary Systems. 273 Exoplanets have been confirmed this year so far and there are 9,867 Exoplanet Candidates being evaluated for confirmation. Learn about all of the Exoplanets from NASA’s Exoplanet Catalog.