Brief
This report covers the 42nd week of the year spanning Friday, October 13th, through Friday, October 20th, 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
- The National Debt has increased 2.16 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 172% YTD
- 30 Year average mortgage rates hit new highs not seen seen since December 2000 at 7.63% this week
Market summary
The US stock market dropped this week down an average of 2.44% according to the Wilshire 5000 Total Market Index. Stocks closed the week on Friday at the lows of the week. The S&P 500 Real Estate sector performed the worst this week, down 4.64% followed closely by Consumer Discretionary down 4.45%.
Global stocks also had a bad week with all major indexes down and closing Friday at their lows of the week. Hong Kong and China markets performed the worst down 3.6% and 3.4% respectively.
The Treasury Yield curve is continuing to flatten this week with longer term rates increasing while shorter term rates decreased. A week ago the 1 year was paying 0.65% more than the 30 year, while this week that gap is closing with the 1 year only paying 0.32% more than the 30 year. Check out the Economic Indicators page to see the current Yield Curve.
Crypto had a good week with the market cap increasing 6.36%. Bitcoin was up 10.52% this week or up 2,823.30 to close just below 30k at 29,665.02.
Economic Reports
Monday, October 16th
- No notable economic reports
Tuesday, October 17th
- Retail Sales for September increased 0.7%, more than the expected increase of 0.3% but less than last month’s increase of 0.8%
- Retail Sales ex-auto for September increased 0.6%, more than the expected increase of 0.2% but less than last month’s increase of 0.9%
- Industrial Production for September increased 0.3%, more than the expected change of 0% and more than last month’s change of 0%
- Capacity Utilization for September was 79.7%, more than the expected 79.5% and more than last month’s 79.5%
- Business Inventories for August increased 0.4%, more than the expected increase of 0.3% and more than last month’s increase of 0.1%
Wednesday, October 18th
- Housing Starts for September 7.0% month-over-month to an annually adjusted rate of 1,358K, less than the expected rate of 1,380K but more than last month’s rate of 1,269K
- Building Permits for September declined 4.4% month-over-month to an annually adjusted rate of 1,473K, more than the expected rate of 1,448K but less than last month’s rate of 1,541K
Thursday, October 19th
- Initial Jobless Claims for last week decreased by 13,000 to 198,000 new claims, less than the expected 211,000
- Continuing Jobless Claims increased by 29,000 to 1.73 million
- Existing Home Sales for September increased 3.96M, more than the expected increase of 3.90M but less than last month’s increase of 4.04M
- Leading Indicators for September decreased 0.7%, more than the expected decrease of 0.4% and more than last month’s decrease of 0.5%
Friday, October 20th
- No notable economic reports
Next Week’s Major Reports
- New Home Sales – Tuesday, October 25th
- GDP Advanced – Wednesday, October 26th
- Personal Income – Thursday, October 27th
- PCE Prices – Thursday, October 27th
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 | 33,127.28 | -543.01 | -1.61% | 33,118.12 | 34,147.63 | -0.06% | ||
| Nasdaq | 12,983.81 | -423.42 | -3.16% | 12,977.44 | 13,602.25 | 24.05% | ||
| S&P 500 | 4,224.16 | -103.62 | -2.39% | 4,223.03 | 4,393.57 | 10.02% | ||
| Wilshire 5000 | 41,549.78 | -1,038.43 | -2.44% | 41,549.78 | 43,128.09 | 9.13% |
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Communication Services | 227.26 | -1.24 | -0.54% | 227.26 | 232.85 | 42.60% | ||
| Consumer Discretionary | 1,196.39 | -55.77 | -4.45% | 1,196.39 | 1,273.59 | 18.99% | ||
| Consumer Staples | 710.82 | 5.04 | 0.71% | 710.82 | 719.09 | -8.77% | ||
| Energy | 691.10 | 4.66 | 0.68% | 690.94 | 704.21 | 2.79% | ||
| Financials | 535.85 | -16.15 | -2.93% | 535.85 | 560.69 | -5.95% | ||
| Health Care | 1,492.01 | -24.75 | -1.63% | 1,492.01 | 1,528.16 | -5.90% | ||
| Industrials | 835.20 | -25.79 | -3.00% | 835.20 | 872.77 | 0.46% | ||
| Information Technology | 2,901.99 | -93.80 | -3.13% | 2,901.99 | 3,025.04 | 33.60% | ||
| Materials | 473.96 | -14.78 | -3.02% | 473.96 | 498.22 | -3.18% | ||
| Real Estate | 205.32 | -9.98 | -4.64% | 205.32 | 217.50 | -11.64% | ||
| Utilities | 294.62 | -6.38 | -2.12% | 294.62 | 304.15 | -17.81% |
Global Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| UK FTSE 100 | 7,402.14 | -197.46 | -2.60% | 7,395.57 | 7,682.63 | -0.67% | ||
| France CAC 40 | 6,816.22 | -187.31 | -2.67% | 6,816.17 | 7,051.18 | 5.29% | ||
| Spain IBEX 35 | 9,029.12 | -203.78 | -2.21% | 9,021.80 | 9,323.40 | 9.72% | ||
| Germany DAX 40 | 14,798.47 | -388.19 | -2.56% | 14,798.47 | 15,288.32 | 6.28% | ||
| India BSE Sensex | 65,397.62 | -885.12 | -1.34% | 65,308.61 | 66,559.82 | 7.49% | ||
| China Shanghai Comp | 2,983.06 | -105.04 | -3.40% | 2,977.17 | 3,091.13 | -3.44% | ||
| HK Hang Seng 50 | 17,172.13 | -641.32 | -3.60% | 17,118.07 | 17,858.18 | -13.19% | ||
| Japan Nikkei 225 | 31,259.36 | -1,056.63 | -3.27% | 31,093.90 | 32,260.77 | 19.79% | ||
| Australia ASX 200 | 6,900.70 | -150.30 | -2.13% | 6,878.30 | 7,100.30 | -1.96% |
Currencies
| Currency | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| CAD Canadian Dollar | 1.3719 | 0.0060 | 0.44% | 1.3607 | 1.3743 | 1.22% | ||
| MXN Mexican Peso | 18.2364 | 0.1441 | 0.80% | 17.8716 | 18.4657 | -6.42% | ||
| COP Colombian Peso | 4,232.50 | -4.50 | -0.11% | 4,175.00 | 4,276.00 | -12.71% | ||
| BRL Brazilian Real | 5.0345 | -0.0451 | -0.89% | 5.0098 | 5.0980 | -4.74% | ||
| GBP British Pound Sterling | 0.8220 | -0.0014 | -0.17% | 0.8183 | 0.8272 | -0.56% | ||
| EUR Euro | 0.9439 | -0.0075 | -0.79% | 0.9419 | 0.9518 | 1.02% | ||
| CHF Swiss Franc | 0.8922 | -0.0101 | -1.12% | 0.8902 | 0.9043 | -3.56% | ||
| CZK Czech Koruna | 23.2319 | -0.2749 | -1.17% | 23.1980 | 23.5167 | 2.94% | ||
| NOK Norwegian Krone | 11.0586 | 0.1112 | 1.02% | 10.9050 | 11.1145 | 12.74% | ||
| SEK Swedish Krona | 10.9946 | -0.0506 | -0.46% | 10.8876 | 11.0635 | 5.34% | ||
| RUB Russian Ruble | 95.45 | -2.25 | -2.30% | 62.62 | 98.15 | 29.42% | ||
| SAR Saudi Riyal | 3.7514 | 0.0001 | 0.00% | 3.7502 | 3.7522 | -0.18% | ||
| AED UAE Dirham | 3.6729 | -0.0001 | 0.00% | 3.6728 | 3.6732 | 0.01% | ||
| INR Indian Rupee | 83.16 | -0.26 | -0.31% | 82.83 | 83.60 | 0.50% | ||
| THB Thai Baht | 36.49 | 0.24 | 0.66% | 36.17 | 36.59 | 5.40% | ||
| SGD Singapore Dollar | 1.3722 | 0.0027 | 0.20% | 1.3670 | 1.3765 | 2.33% | ||
| MYR Malaysian Ringgit | 4.7675 | 0.0390 | 0.82% | 4.7125 | 4.7825 | 8.23% | ||
| CNH Chinese Yuan | 7.3274 | 0.0141 | 0.19% | 7.3045 | 7.3471 | 5.86% | ||
| HKD Hong Kong Dollar | 7.8243 | -0.0004 | -0.01% | 7.8163 | 7.8327 | 0.23% | ||
| KRW South Korean Won | 1,350.35 | -2.80 | -0.21% | 1,346.01 | 1,360.52 | 7.01% | ||
| JPY Japanese Yen | 149.84 | 0.27 | 0.18% | 148.79 | 150.04 | 14.28% | ||
| AUD Australian Dollar | 1.5835 | -0.0051 | -0.32% | 1.5640 | 1.5888 | 8.07% | ||
| NZD New Zealand Dollar | 1.7153 | 0.0172 | 1.01% | 1.6861 | 1.7197 | 8.92% |
* Rates are quoted as the amount of local currency to buy 1 US Dollar.
Commodities
- Average US Regular Gas Price – decreased 10.8 cents or -2.93% this week to $3.576 a gallon. See more about US Regular Gas Prices.
- EIA Crude Oil Inventories – decreased by 4.49M barrels last week compared to prior week increase of 10.18M
- EIA Natural Gas Inventories – increased 97 bcf last week compared to prior week increase of 84 bcf (billion cubic feet)
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Gold | 1,994.40 | 52.90 | 2.72% | 1,921.20 | 2,009.20 | 9.21% | ||
| Silver | 23.50 | 0.61 | 2.66% | 22.54 | 23.88 | -2.23% | ||
| Platinum | 905.10 | 20.90 | 2.36% | 879.10 | 914.70 | -16.42% | ||
| Palladium | 1,111.20 | -34.00 | -2.97% | 1,099.00 | 1,160.00 | -38.20% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Crude Oil | 88.75 | 1.06 | 1.21% | 85.60 | 90.78 | 10.58% | ||
| Natural Gas | 2.8990 | -0.3370 | -10.41% | 2.8800 | 3.1850 | -29.36% | ||
| Gasoline | 2.3736 | 0.1083 | 4.78% | 2.2517 | 2.3994 | -4.22% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Lumber | 488.00 | -18.50 | -3.65% | 487.50 | 506.50 | 30.59% | ||
| Steel (HRC) | 703.00 | 8.00 | 1.15% | 695.00 | 707.00 | -5.51% | ||
| Copper | 3.5630 | -0.0080 | -0.22% | 3.5315 | 3.6305 | -6.50% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Corn | 4.9550 | 0.0225 | 0.46% | 4.8775 | 5.0950 | -26.97% | ||
| Wheat | 5.8600 | 0.0625 | 1.08% | 5.6850 | 6.0450 | -26.01% | ||
| Soybeans | 13.0225 | 0.2200 | 1.72% | 12.7625 | 13.1850 | -14.55% | ||
| Coffee | 1.6525 | 0.1035 | 6.68% | 1.5210 | 1.6680 | -1.23% | ||
| Sugar | 0.2685 | -0.0018 | -0.67% | 0.2680 | 0.2767 | 33.98% | ||
| Cocoa | 3,694.00 | 195.00 | 5.57% | 3,506.00 | 3,710.00 | 42.08% | ||
| Cotton | 0.8240 | -0.0366 | -4.25% | 0.8151 | 0.8623 | -1.16% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Cattle | 1.8463 | -0.0213 | -1.14% | 1.8443 | 1.8793 | 16.93% | ||
| Lean Hogs | 0.6600 | -0.0350 | -5.04% | 0.6540 | 0.7008 | -24.74% | ||
| Feeder Cattle | 2.4305 | -0.0682 | -2.73% | 2.4265 | 2.5050 | 32.31% |
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 7.63% from 7.57% last week. Learn more about 30 year mortgage rates.
- MBA Mortgage Applications Index – decreased by 6.9% this week compared to the prior week increase of 0.6%
| Maturity | Week Close | Week Change | Low | Week Range | High | |
|---|---|---|---|---|---|---|
| US 1 Month | 5.394% | -0.033% | 5.370% | 5.444% | ||
| US 3 Month | 5.464% | -0.031% | 5.458% | 5.518% | ||
| US 1 Year | 5.409% | -0.004% | 5.393% | 5.500% | ||
| US 5 Year | 4.871% | 0.225% | 4.641% | 4.999% | ||
| US 10 Year | 4.928% | 0.301% | 4.616% | 4.997% | ||
| US 30 Year | 5.090% | 0.324% | 4.766% | 5.134% |
Cryptocurrencies
- Total Crypto Market Cap – increased 6.36% or 66.94B this week to 1,120B
| Rank* | Crypto | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BTC | 29,665.02 | 2,823.30 | 10.52% | 26,807.54 | 30,023.31 | 79.27% | ||
| 2 | ETH | 1,611.92 | 48.58 | 3.11% | 1,552.09 | 1,633.91 | 34.69% | ||
| 3 | BNB | 212.31 | 6.49 | 3.15% | 205.83 | 216.70 | -13.82% | ||
| 4 | XRP | 0.5164 | 0.0305 | 6.27% | 0.4790 | 0.5276 | 51.94% | ||
| 5 | SOL | 27.08 | 5.17 | 23.57% | 21.79 | 27.36 | 171.92% | ||
| 6 | DOGE | 0.0600 | 0.0016 | 2.72% | 0.0578 | 0.0611 | -14.71% | ||
| 7 | ADA | 0.2502 | 0.0055 | 2.24% | 0.2402 | 0.2566 | 1.51% | ||
| 8 | TRX | 0.0910 | 0.0052 | 6.07% | 0.0853 | 0.0923 | 67.00% | ||
| 9 | LTC | 63.45 | 1.65 | 2.67% | 60.13 | 65.35 | -9.36% | ||
| 10 | MATIC | 0.5356 | 0.0205 | 3.98% | 0.5043 | 0.5447 | -29.38% |
* Rank is based on market cap of non-stablecoins.
Fascinating Stats
US National Debt
The US National Debt increased 92.05 billion (Wednesday, October 11th to Wednesday, October 18th), to a total debt of $33,629,187,105,622.79 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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6.6
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867.8
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276.3
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305.6
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253.2
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461.9
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| May | Jun | Jul | Aug | Sep | Oct |
Space Weather – Solar Sunspots
The number of solar Sunspots (magnetic storms on the surface of the sun facing Earth) has decreased this week to 39 from 126 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 5,528 confirmed and catalogued Exoplanets across 4,253 confirmed Planetary Systems. 287 Exoplanets have been confirmed this year so far and there are 9,907 Exoplanet Candidates being evaluated for confirmation. Learn about all of the Exoplanets from NASA’s Exoplanet Catalog.