Brief
This report covers the 27th week of the year spanning Friday, June 30th, through Friday, July 7th, 2023.
- The National Debt has increased 937.67 Billion since the National Debt ceiling was suspended on June 1st, 2023
- Solana jumps 13% and becomes the best performing asset of 2023 up 115.4% YTD
- Government payrolls increased by 60,000 in June
- The Fed announces inflation not expected to fall under the key 2% rate until 2025 (FXStreet Article)
Economic Reports
Monday July 3rd
- Construction Spending for May increased 0.9%, more than the expected increase of 0.4% and more than last month’s increase of 0.4%
- ISM Manufacturing Index for June was 46.0, less than the expected 47.1 and less than last month’s 46.9
Tuesday July 4th
- US Markets closed for the observance of Independence Day
Wednesday July 5th
- Factory Orders for May increased 0.3%, less than the expected increase of 0.6% but matched last month’s increase of 0.3%
Thursday July 6th
- Initial Jobless Claims for last week increased by 12,000 to 248,000 new claims, more than the expected 245,000
- Continuing Jobless Claims decreased by 13,000 to 1.720 million
- ADP Employment Change for June increased 497K, more than the expected increase of 245K and more than last month’s increase of 267K
- ISM Non-Manufacturing Index for June was 53.9%, more than the expected 51.1% and more than last month’s 50.3%
- JOLTS – Job Openings for May was 9.824M, less than last month’s 10.320M
Friday July 7th
- Nonfarm Payrolls for June increased 209K, less than the expected increase of 220K and less than last month’s increase of 306K
- Nonfarm Private Payrolls for June increased 149K, less than the expected increase of 210K and less than last month’s increase of 259K
- Avg. Hourly Earnings for June increased 0.4%, more than the expected increase of 0.3% and matched last month’s increase of 0.4%
- Unemployment Rate for June decreased to 3.6%, matching expectations but lower than last month’s 3.7%
- Average Workweek for June was 34.4 hours, more than the expected 34.3 and more than last month’s 34.3
Next Week’s Major Reports
- CPI – Wednesday July, 12th
- PPI – Thursday July 13th
See more Economic News at Briefing.com or learn about each economic report on our education page
US Stocks
US stocks were down an average of 1.12% this week. Real Estate was the only sector to post a gain this week, up 0.49%. Health Care fell the most last week down 2.87% followed closely by Materials down 2.01%.
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| DJIA | 33,734.88 | -672.72 | -1.96% | 33,716.75 | 34,465.60 | 1.77% | ||
| Nasdaq | 13,660.72 | -127.20 | -0.92% | 13,567.26 | 13,844.50 | 30.52% | ||
| S&P 500 | 4,398.95 | -51.43 | -1.16% | 4,385.05 | 4,456.46 | 14.57% | ||
| Wilshire 5000 | 43,513.06 | -493.64 | -1.12% | 43,513.06 | 44,085.43 | 14.29% |
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Communication Services | 215.39 | -0.69 | -0.32% | 215.39 | 218.97 | 35.15% | ||
| Consumer Discretionary | 1,326.17 | -4.37 | -0.33% | 1,323.82 | 1,345.97 | 31.89% | ||
| Consumer Staples | 770.30 | -8.52 | -1.09% | 770.30 | 784.19 | -1.13% | ||
| Energy | 619.40 | -4.16 | -0.67% | 606.87 | 625.50 | -7.87% | ||
| Financials | 558.53 | -2.58 | -0.46% | 557.65 | 565.87 | -1.97% | ||
| Health Care | 1,504.14 | -44.48 | -2.87% | 1,504.14 | 1,535.95 | -5.13% | ||
| Industrials | 898.61 | -9.48 | -1.04% | 896.56 | 908.72 | 8.08% | ||
| Information Technology | 3,040.87 | -44.97 | -1.46% | 3,040.87 | 3,087.25 | 39.99% | ||
| Materials | 511.46 | -10.47 | -2.01% | 506.98 | 523.53 | 4.48% | ||
| Real Estate | 237.16 | 0.49 | 0.21% | 237.16 | 239.79 | 2.06% | ||
| Utilities | 332.14 | -0.66 | -0.20% | 332.14 | 338.70 | -7.35% |
Global Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| UK FTSE 100 | 7,256.94 | -274.59 | -3.65% | 7,229.57 | 7,561.26 | -2.61% | ||
| France CAC 40 | 7,111.88 | -288.18 | -3.89% | 7,052.77 | 7,426.60 | 9.86% | ||
| Spain IBEX 35 | 9,248.80 | -344.20 | -3.59% | 9,169.80 | 9,658.60 | 12.39% | ||
| Germany DAX 40 | 15,603.40 | -544.50 | -3.37% | 15,456.16 | 16,209.29 | 12.06% | ||
| India BSE Sensex | 65,280.45 | 561.89 | 0.87% | 64,836.16 | 65,898.98 | 7.30% | ||
| China Shanghai Comp | 3,196.61 | -5.45 | -0.17% | 3,189.21 | 3,246.96 | 3.47% | ||
| HK Hang Seng 50 | 18,365.70 | -550.73 | -2.91% | 18,279.73 | 19,449.11 | -7.16% | ||
| Japan Nikkei 225 | 32,388.42 | -800.62 | -2.41% | 32,327.90 | 33,762.81 | 24.12% | ||
| Australia ASX 200 | 7,042.30 | -161.00 | -2.24% | 7,023.60 | 7,285.80 | 0.05% |
Currencies
| Currency | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| CAD Canadian Dollar | 1.3280 | 0.0033 | 0.25% | 1.3204 | 1.3390 | -2.02% | ||
| MXN Mexican Peso | 17.1457 | 0.0216 | 0.13% | 16.9815 | 17.3955 | -12.02% | ||
| COP Colombian Peso | 4,159.25 | -8.75 | -0.21% | 4,112.53 | 4,237.28 | -14.22% | ||
| BRL Brazilian Real | 4.8726 | 0.0850 | 1.78% | 4.7592 | 4.9488 | -7.80% | ||
| GBP British Pound Sterling | 0.7790 | -0.0084 | -1.07% | 0.7781 | 0.7910 | -5.76% | ||
| EUR Euro | 0.9116 | -0.0050 | -0.55% | 0.9111 | 0.9231 | -2.44% | ||
| CHF Swiss Franc | 0.8884 | -0.0073 | -0.82% | 0.8875 | 0.9005 | -3.97% | ||
| CZK Czech Koruna | 21.7398 | -0.0358 | -0.16% | 21.6918 | 22.0435 | -3.67% | ||
| NOK Norwegian Krone | 10.6256 | -0.1326 | -1.23% | 10.6014 | 10.8299 | 8.32% | ||
| SEK Swedish Krona | 10.8225 | 0.0349 | 0.32% | 10.7690 | 10.9918 | 3.69% | ||
| RUB Russian Ruble | 91.26 | 2.43 | 2.74% | 87.95 | 94.57 | 23.74% | ||
| SAR Saudi Riyal | 3.7508 | -0.0002 | -0.01% | 3.7508 | 3.7508 | -0.19% | ||
| AED UAE Dirham | 3.6730 | 0.0000 | 0.00% | 3.6730 | 3.6730 | 0.01% | ||
| INR Indian Rupee | 82.65 | 0.55 | 0.67% | 81.77 | 82.83 | -0.12% | ||
| THB Thai Baht | 35.10 | -0.18 | -0.51% | 34.81 | 35.36 | 1.39% | ||
| SGD Singapore Dollar | 1.3467 | -0.0057 | -0.42% | 1.3456 | 1.3545 | 0.43% | ||
| MYR Malaysian Ringgit | 4.6700 | 0.0025 | 0.05% | 4.6390 | 4.6751 | 6.02% | ||
| CNH Chinese Yuan | 7.2343 | -0.0333 | -0.46% | 7.2181 | 7.2744 | 4.52% | ||
| HKD Hong Kong Dollar | 7.8275 | -0.0092 | -0.12% | 7.8128 | 7.8384 | 0.27% | ||
| KRW South Korean Won | 1,298.37 | -17.93 | -1.36% | 1,293.41 | 1,316.97 | 2.89% | ||
| JPY Japanese Yen | 142.12 | -2.20 | -1.52% | 142.07 | 144.94 | 8.39% | ||
| AUD Australian Dollar | 1.4950 | -0.0061 | -0.41% | 1.4910 | 1.5156 | 2.03% | ||
| NZD New Zealand Dollar | 1.6129 | -0.0168 | -1.03% | 1.6075 | 1.6345 | 2.42% |
* Rates are quoted as the amount of local currency to buy 1 US Dollar.
Commodities
- Average US Regular Gas Price – decreased 4.4 cents or -1.23% this week to $3.527 a gallon. See more about US Regular Gas Prices.
- EIA Crude Oil Inventories – decreased by 1.51M barrels last week compared to prior week decrease of 9.60M
- EIA Natural Gas Inventories – increased 72 bcf last week compared to prior week increase of 76 bcf (billion cubic feet)
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Gold | 1,932.50 | 3.10 | 0.16% | 1,908.50 | 1,942.90 | 5.82% | ||
| Silver | 23.29 | 0.27 | 1.17% | 22.72 | 23.54 | -3.12% | ||
| Platinum | 918.50 | 5.30 | 0.58% | 899.00 | 931.00 | -15.18% | ||
| Palladium | 1,245.10 | 23.10 | 1.89% | 1,212.50 | 1,272.50 | -30.75% | ||
| Crude Oil | 73.86 | 3.22 | 4.56% | 69.69 | 73.92 | -7.97% | ||
| Natural Gas | 2.5700 | -0.2040 | -7.35% | 2.5260 | 2.7800 | -37.38% | ||
| Lumber | 561.00 | 30.00 | 5.65% | 521.00 | 565.00 | 50.12% | ||
| Steel (HRC) | 940.00 | 22.00 | 2.40% | 886.00 | 945.00 | 26.34% | ||
| Copper | 3.7820 | 0.0225 | 0.60% | 3.7225 | 3.8075 | -0.75% | ||
| Corn | 4.9450 | -0.0025 | -0.05% | 4.8550 | 5.0950 | -27.12% | ||
| Wheat | 6.4950 | -0.0150 | -0.23% | 6.3650 | 6.8000 | -17.99% | ||
| Soybeans | 13.1775 | -0.2550 | -1.90% | 13.1550 | 13.9175 | -13.53% | ||
| Coffee | 1.6090 | 0.0190 | 1.19% | 1.5580 | 1.6390 | -3.83% | ||
| Cattle | 1.7700 | -0.0017 | -0.10% | 1.7343 | 1.7735 | 12.10% | ||
| Lean Hogs | 0.9515 | 0.0255 | 2.75% | 0.9215 | 1.0075 | 8.49% |
Interest Rates
- Federal Funds Effective Rate – increased a basis point this week and is now at 5.08% with the target rate between 5.00-5.25% since the May 3rd, 2023 increase of 25 basis points. See more about the Federal Funds Rate.
- 30 Year Average US Mortgage Rates – increased this week to 6.81% from 6.71% last week. Learn more about 30 year mortgage rates.
- MBA Mortgage Applications Index – decreased by 4.4% this week compared to the prior week increase of 3.0%
| Maturity | Week Close | Week Change | Low | Week Range | High | |
|---|---|---|---|---|---|---|
| US 1 Month | 5.235% | 0.098% | 5.134% | 5.255% | ||
| US 3 Month | 5.360% | 0.045% | 5.293% | 5.381% | ||
| US 1 Year | 5.415% | -0.002% | 5.398% | 5.489% | ||
| US 5 Year | 4.365% | 0.213% | 4.100% | 4.465% | ||
| US 10 Year | 4.068% | 0.224% | 3.781% | 4.094% | ||
| US 30 Year | 4.046% | 0.183% | 3.816% | 4.064% |
Cryptocurrencies
- Total Crypto Market Cap – decreased 1.00% or 11.9B this week to 1,179B
| Rank* | Crypto | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BTC | 30,320.04 | -171.99 | -0.56% | 29,826.18 | 31,383.97 | 83.23% | ||
| 2 | ETH | 1,872.38 | -60.31 | -3.12% | 1,837.16 | 1,967.75 | 56.45% | ||
| 3 | BNB | 235.54 | -4.98 | -2.07% | 232.01 | 250.29 | -4.39% | ||
| 4 | XRP | 0.4696 | -0.0050 | -1.06% | 0.4640 | 0.4956 | 38.15% | ||
| 5 | ADA | 0.2841 | -0.0027 | -0.93% | 0.2783 | 0.3005 | 15.26% | ||
| 6 | DOGE | 0.0654 | -0.0010 | -1.55% | 0.0649 | 0.0716 | -6.97% | ||
| 7 | SOL | 21.45 | 2.47 | 13.00% | 17.97 | 21.59 | 115.37% | ||
| 8 | TRX | 0.0792 | 0.0030 | 3.92% | 0.0754 | 0.0800 | 45.25% | ||
| 9 | LTC | 98.25 | -9.82 | -9.09% | 95.39 | 114.49 | 40.36% | ||
| 10 | MATIC | 0.6761 | 0.0152 | 2.29% | 0.6519 | 0.7192 | -10.86% |
* Rank is based on market cap of non-stablecoins.
Other Fascinating Stats
The US National Debt increased 155.13 billion (Wednesday June 28th to Wednesday July 5th), to a total debt of $32,402,127,570,957.67 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.
The number of solar Sunspots (magnetic storms on the surface of the sun facing Earth) has increased this week to 149 from 112 last week, the sun has had 0 spotless days in 2023. See more about Sunspots and space weather.
NASA has cataloged 0 new exoplanets this week, the total remains at 5,463 confirmed and catalogued Exoplanets across 4,205 confirmed Planetary Systems. 222 Exoplanets have been confirmed this year so far and there are 9,719 Exoplanet Candidates being evaluated for confirmation. Learn about all of the Exoplanets from NASA’s Exoplanet Catalog.