Brief
This report covers the 9th week of the year spanning Friday, February 24th, through Friday, March 3rd, 2023.
The top performing assets year-to-date (YTD) so far have all been cryptocurrencies except this week, Hot Coil Rolled Steel has taken the 2nd spot up 41.1% for the year. View header image in full screen.
Economic Reports
Monday Feb 27th
- Durable Orders for January decreased 4.5% lower than expected of -3.9% and much lower than December’s increase of 5.1%
- Durable Goods -ex transportation for January increased 0.7% reasonably higher than expect 0.1% and December’s -0.4%
- Pending Home Sales for January increased 8.1% reasonably higher than the expected 1.0% and higher than December’s 1.1%
Tuesday Feb 28th
- FHFA Housing Price Index for December decreased 0.1% month-over-month the same as November
- S&P Case-Shiller Home Price Index for December increased 4.6% less than expected of 5.8% and less than Novembers 6.8%
- Chicago PMI for February was 43.6 less than the expected 45.0 and less than January’s 44.3
- Consumer Confidence for February was 102.9 significantly less than expected 108.4 and less than December’s 106.0
Wednesday Mar 1st
- MBA Mortgage Applications Index for last week decreased by 5.7% compared to the prior week decrease of 13.3%
- IHS Markit Manufacturing PMI – Final for February was 47.3 less than January’s 47.8
- ISM Manufacturing Index for February was 47.7% up slightly from January’s 47.4%
- Construction Spending for January was down 0.1% less than the expected increase of 0.3%
- EIA Crude Oil Inventories increased by 1.17M barrels last week compared to prior week increase of 7.65M
Thursday Mar 2nd
- Initial Jobless Claims for last week decreased by 2,000 to 190,000 new claims reasonably less than expected of 197,000
- Continuing Jobless Claims decreased by 5,000 to 1.655 million
- EIA Natural Gas Inventories declined last week by 81 bcf the previous week inventories decreased by 71 bcf (billion cubic feet)
- Productivity – Revised for Q4 was reduced to 1.7% from preliminary estimate of 3.0% and less than expected 2.5%
- Unit Labor Costs – Revised for Q4 increased to 3.2% from preliminary estimate of 3.0% and more than expected of 1.4%
Friday Mar 3rd
- IHS Markit Services PMI – Final for February was 50.6 slightly higher than January’s 50.5
- ISM Services PMI for February was 55.1% slightly under January’s 55.2% but higher than expected of 54.5%
See more Economic News at Briefing.com or learn about each economic report on our education page.
US Stocks
US stocks were up this week with the Wilshire 5000 adding 1.92%. The biggest sector gainers of the week were Materials with 4.02% and Industrials up 3.25%.
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| DJIA | 33,390.97 | 574.05 | 1.75% | 32,500.71 | 33,405.82 | 0.74% | ||
| Nasdaq | 11,689.01 | 294.07 | 2.58% | 11,273.61 | 11,699.63 | 11.68% | ||
| S&P 500 | 4,045.64 | 75.60 | 1.90% | 3,928.16 | 4,048.29 | 5.37% | ||
| Wilshire 5000 | 40,450.95 | 760.21 | 1.92% | 39,537.91 | 40,450.95 | 6.24% |
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Communication Services | 178.02 | 5.63 | 3.27% | 172.47 | 178.02 | 11.70% | ||
| Consumer Discretionary | 1,135.50 | 18.03 | 1.61% | 1,111.95 | 1,135.50 | 12.93% | ||
| Consumer Staples | 755.69 | -3.12 | -0.41% | 746.03 | 757.41 | -3.01% | ||
| Energy | 664.30 | 18.98 | 2.94% | 638.01 | 664.30 | -1.20% | ||
| Financials | 597.05 | 4.67 | 0.79% | 587.65 | 597.05 | 4.79% | ||
| Health Care | 1,503.32 | 7.68 | 0.51% | 1,477.49 | 1,503.32 | -5.19% | ||
| Industrials | 874.52 | 27.53 | 3.25% | 851.88 | 874.52 | 5.19% | ||
| Information Technology | 2,441.83 | 69.46 | 2.93% | 2,360.87 | 2,441.83 | 12.41% | ||
| Materials | 531.90 | 20.57 | 4.02% | 512.51 | 531.90 | 8.65% | ||
| Real Estate | 243.23 | 3.72 | 1.55% | 236.20 | 243.23 | 4.67% | ||
| Utilities | 334.84 | -2.33 | -0.69% | 323.16 | 334.84 | -6.59% |
Global Stocks
Stocks around the world were up this week except Australia posting a slight decline. Spain and Germany saw the most growth with the IBEX 35 gaining 2.85% and DAX 40 gaining 2.42%.
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| UK FTSE 100 | 7,947.11 | 68.45 | 0.87% | 7,854.82 | 7,974.40 | 6.65% | ||
| France CAC 40 | 7,348.12 | 160.85 | 2.24% | 7,169.66 | 7,358.04 | 13.51% | ||
| Spain IBEX 35 | 9,464.20 | 262.70 | 2.85% | 9,246.10 | 9,472.20 | 15.01% | ||
| Germany DAX 40 | 15,578.39 | 368.65 | 2.42% | 15,150.67 | 15,590.44 | 11.88% | ||
| India BSE Sensex | 59,808.97 | 345.04 | 0.58% | 58,795.97 | 59,967.04 | -1.70% | ||
| China Shanghai Comp | 3,328.39 | 61.23 | 1.87% | 3,246.14 | 3,330.60 | 7.74% | ||
| HK Hang Seng 50 | 20,567.54 | 557.50 | 2.79% | 19,783.07 | 20,727.25 | 3.97% | ||
| Japan Nikkei 225 | 27,927.47 | 473.99 | 1.73% | 27,292.74 | 27,961.21 | 7.02% | ||
| Australia ASX 200 | 7,283.60 | -23.40 | -0.32% | 7,193.40 | 7,292.50 | 3.48% |
Currencies
The US Dollar fell around the globe a little this week with the US dollar falling the most to the Czech Koruna at -1.53%.
| Currency | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| CAD Canadian Dollar | 1.3598 | -0.0007 | -0.05% | 1.3537 | 1.3662 | 0.32% | ||
| MXN Mexican Peso | 17.9566 | -0.4370 | -2.38% | 17.9492 | 18.4230 | -7.86% | ||
| COP Colombian Peso | 4,788.63 | -52.95 | -1.09% | 4,751.00 | 4,898.50 | -1.24% | ||
| BRL Brazilian Real | 5.1957 | -0.0148 | -0.28% | 5.1710 | 5.2446 | -1.69% | ||
| GBP British Pound Sterling | 0.8304 | -0.0068 | -0.81% | 0.8235 | 0.8387 | 0.46% | ||
| EUR Euro | 0.9404 | -0.0079 | -0.83% | 0.9351 | 0.9495 | 0.64% | ||
| CHF Swiss Franc | 0.9359 | -0.0049 | -0.52% | 0.9342 | 0.9442 | 1.17% | ||
| CZK Czech Koruna | 22.0849 | -0.3424 | -1.53% | 21.8762 | 22.4649 | -2.14% | ||
| NOK Norwegian Krone | 10.3831 | -0.0072 | -0.07% | 10.2983 | 10.4947 | 5.85% | ||
| SEK Swedish Krona | 10.4547 | -0.0539 | -0.51% | 10.3726 | 10.5359 | 0.17% | ||
| RUB Russian Ruble | 75.40 | -0.62 | -0.82% | 74.01 | 76.37 | 2.24% | ||
| SAR Saudi Riyal | 3.7531 | 0.0035 | 0.09% | 3.7457 | 3.7576 | -0.13% | ||
| AED UAE Dirham | 3.6731 | 0.0000 | 0.00% | 3.6727 | 3.6732 | 0.01% | ||
| INR Indian Rupee | 81.72 | -1.21 | -1.46% | 81.65 | 83.08 | -1.24% | ||
| THB Thai Baht | 34.50 | -0.43 | -1.23% | 34.47 | 35.40 | -0.35% | ||
| SGD Singapore Dollar | 1.3448 | -0.0051 | -0.38% | 1.3389 | 1.3518 | 0.29% | ||
| MYR Malaysian Ringgit | 4.4760 | 0.0405 | 0.91% | 4.4355 | 4.4980 | 1.61% | ||
| CNH Chinese Yuan | 6.8999 | -0.0702 | -1.01% | 6.8635 | 6.9897 | -0.31% | ||
| HKD Hong Kong Dollar | 7.8480 | -0.0007 | -0.01% | 7.8432 | 7.8500 | 0.53% | ||
| KRW South Korean Won | 1,295.73 | -19.08 | -1.45% | 1,294.27 | 1,326.84 | 2.68% | ||
| JPY Japanese Yen | 135.85 | -0.61 | -0.45% | 135.26 | 137.11 | 3.61% | ||
| AUD Australian Dollar | 1.4775 | -0.0095 | -0.64% | 1.4741 | 1.4939 | 0.84% | ||
| NZD New Zealand Dollar | 1.6067 | -0.0133 | -0.82% | 1.5949 | 1.6311 | 2.03% |
Commodities
Precious Metals were up this week for the first time in 4 weeks, with Platinum leading the rise adding 7.88%.
Natural Gas continued to bounce up this week surging up another 28.15% this week.
For Construction Materials Steel prices continued to climb this week for the 7th straight week adding 2.91%, up 41.13% YTD.
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Gold | 1,854.60 | 37.50 | 2.06% | 1,810.80 | 1,864.40 | 1.56% | ||
| Silver | 21.24 | 0.43 | 2.06% | 20.51 | 21.39 | -11.66% | ||
| Platinum | 979.40 | 71.50 | 7.88% | 903.90 | 986.30 | -9.56% | ||
| Palladium | 1,449.00 | 71.70 | 5.21% | 1,389.50 | 1,465.00 | -19.41% | ||
| Crude Oil | 79.68 | 3.36 | 4.40% | 74.99 | 79.90 | -0.72% | ||
| Natural Gas | 3.1410 | 0.6900 | 28.15% | 2.7000 | 3.1560 | -23.46% | ||
| Lumber | 370.80 | -16.30 | -4.21% | 360.40 | 406.90 | -0.78% | ||
| Steel (HRC) | 1,050.00 | 30.00 | 2.94% | 1,002.00 | 1,070.00 | 41.13% | ||
| Copper | 4.0670 | 0.1150 | 2.91% | 3.9370 | 4.1745 | 6.73% | ||
| Corn | 6.3975 | -0.0950 | -1.46% | 6.2225 | 6.5225 | -5.71% | ||
| Wheat | 7.0875 | -0.1300 | -1.80% | 7.0175 | 7.2400 | -10.51% | ||
| Soybeans | 15.1875 | -0.0050 | -0.03% | 14.7775 | 15.2500 | -0.34% | ||
| Coffee | 1.7785 | -0.0985 | -5.25% | 1.7680 | 1.8985 | 6.31% | ||
| Cattle | 1.6543 | 0.0005 | 0.03% | 1.6385 | 1.6610 | 4.77% | ||
| Lean Hogs | 0.8455 | -0.0147 | -1.71% | 0.8353 | 0.8688 | -3.59% |
Cryptocurrencies
Cryptos declined this week again with the total market cap falling 3.30% or 35.1B. Litecoin (LTC) fell only 1.1% this week while Shiba Inu (SHIB) lost 9.4% knocking it out of the 10th place.
| Rank* | Crypto | Week Close | Week Change | Change % | % of Market** | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | BTC | 22,362.68 | -835.45 | -3.60% | 41.96% | 22,213.24 | 23,880.63 | 35.14% | ||
| 2 | ETH | 1,569.17 | -39.20 | -2.44% | 18.66% | 1,552.45 | 1,672.05 | 31.12% | ||
| 3 | BNB | 290.28 | -11.77 | -3.90% | 4.45% | 287.98 | 309.59 | 17.83% | ||
| 4 | XRP | 0.3777 | -0.0008 | -0.21% | 1.87% | 0.3599 | 0.3842 | 11.12% | ||
| 5 | ADA | 0.3427 | -0.0231 | -6.31% | 1.15% | 0.3276 | 0.3699 | 39.03% | ||
| 6 | MATIC | 1.1700 | -0.1000 | -7.87% | 0.99% | 1.1400 | 1.3000 | 54.25% | ||
| 7 | DOGE | 0.0768 | -0.0041 | -5.09% | 0.99% | 0.0742 | 0.0827 | 9.23% | ||
| 8 | SOL | 21.40 | -1.65 | -7.16% | 0.79% | 20.54 | 23.48 | 114.86% | ||
| 9 | DOT | 6.0300 | -0.5800 | -8.77% | 0.68% | 5.8700 | 6.7800 | 39.91% | ||
| 10 | LTC | 90.55 | -1.01 | -1.10% | 0.64% | 88.11 | 98.12 | 29.36% |
** Represents the % of the total crypto market cap
Other Fascinating Stats
The US National Debt increased 4.16 billion (Wednesday Feb 22nd to Wednesday Mar 1st), to a total debt of $31,459,077,499,143.18 according to the Treasury Department. The National Debt has surpassed congresses approved debt limit of 31.381 trillion for over 6 weeks now. See the Debt to the Penny.
The number of solar Sunspots (magnetic storms on the surface of the sun) decreased this week from 108 to 103 the sun has had 0 spotless days in 2023. See more about Sunspots and space weather.
NASA has confirmed and cataloged 22 new exoplanets this week bringing the total to 5,272 discovered and confirmed Exoplanets across 3,943 confirmed Planetary Systems (also an increase of 22). 31 Exoplanets have been confirmed this year so far and there are 9,245 Exoplanet Candidates being evaluated for confirmation, an increase of 19 candidates added since last week . Learn about all of the Exoplanets from NASA’s Exoplanet Catalog.
6,413 more Bitcoin have been mined during the week, the total supply is now 19,307,411 out of the maximum supply of 21,000,000. The max supply is 91.94% mined.
The Federal Funds Effective Rate dipped a basis point this week to 4.57% with the target rate remaining between 4.50% and 4.75% since February 1st 2023. See more about the Federal Funds Rate.
30 year average mortgage rates in the US have increased this week from 6.50% last week to 6.65% this week. Learn more about 30 year mortgage rates.
Average US regular gas prices have decreased this week 1.09% from 3.379 a gallon last week to 3.342 a gallon this week. See more about US Regular Gas Prices.