Brief
This report covers the 28th week of the year spanning Friday, July 7th, through Friday, July 14th, 2023.
- The National Debt has increased 1.05 Trillion since the National Debt ceiling was suspended on June 1st, 2023
- The Federal Government is on pace to spend more than 1 trillion in Interest on debt in 2023 (FRED Economic Data)
- S&P500 Consumer Staples sector flips positive YTD this week
- S&P500 Information Technology is the best performing sector YTD up 43.9%
- Ripple (XRP) Jumps 53% for the week after they win court battle against the SEC, court rules Ripple is not a security (MSN article)
- Coinbase and other exchanges to re-list Ripple (CoinDesk article)
Economic Reports
Monday July 10th
- Wholesale Inventories for May decreased .0%, more than the expected decrease of 0.1% and more than last month’s decrease of 0.3%
- Consumer Credit for May increased $7.3B, less than the expected increase of $21.0B and less than last month’s increase of $20.3B
Tuesday July 11th
- NFIB Small Business Optimism for June was 91.0, more than last month’s 89.4
Wednesday July 12th
- CPI for June increased 0.2%, less than the expected increase of 0.3% but more than last month’s increase of 0.1%
- Core CPI for June increased 0.2%, less than the expected increase of 0.3% but less than last month’s increase of 0.4%
Thursday July 13th
- Initial Jobless Claims for last week decreased by 12,000 to 237,000 new claims, less than the expected 247,000
- Continuing Jobless Claims increased by 11,000 to 1.729 million
- PPI for June increased 0.1%, less than the expected increase of 0.2% but more than last month’s decrease of 0.4%
- Core PPI for June increased 0.1%, less than the expected increase of 0.2% and inline with last month’s increase of 0.1%
Friday July 14th
- Treasury Budget for June was -$227.8B, more than last month’s -$240.3B
- Univ. of Michigan Consumer Sentiment – Prelim for July was 72.6, more than the expected 65.6 and more than last month’s 64.4
Next Week’s Major Reports
- Retail Sales – Tuesday, July 18th
- Housing Starts – Wednesday, July 19th
- Building Permits – Wednesday, July 19th
- Existing Home Sales – Thursday, July 20th
See more Economic News at Briefing.com or learn about each economic report on our education page
US Stocks
US stocks were up an average of 2.64% this week. Every S&P500 sector posted a gain this week with Communication Services gaining the most, up 3.36% followed closely by Consumer Discretionary up 3.31%.
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| DJIA | 34,509.03 | 774.15 | 2.29% | 33,705.68 | 34,592.26 | 4.11% | ||
| Nasdaq | 14,113.70 | 452.98 | 3.32% | 13,584.87 | 14,232.11 | 34.85% | ||
| S&P 500 | 4,505.42 | 106.47 | 2.42% | 4,389.92 | 4,527.76 | 17.34% | ||
| Wilshire 5000 | 44,659.64 | 1,146.58 | 2.64% | 43,692.74 | 44,765.18 | 17.30% |
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Communication Services | 222.63 | 7.24 | 3.36% | 213.41 | 223.99 | 39.69% | ||
| Consumer Discretionary | 1,370.10 | 43.93 | 3.31% | 1,327.60 | 1,370.10 | 36.26% | ||
| Consumer Staples | 779.52 | 9.22 | 1.20% | 770.56 | 779.52 | 0.05% | ||
| Energy | 623.02 | 3.62 | 0.58% | 623.02 | 643.57 | -7.34% | ||
| Financials | 569.49 | 10.96 | 1.96% | 561.00 | 573.39 | -0.04% | ||
| Health Care | 1,534.69 | 30.55 | 2.03% | 1,511.97 | 1,534.69 | -3.21% | ||
| Industrials | 918.53 | 19.92 | 2.22% | 911.11 | 922.06 | 10.48% | ||
| Information Technology | 3,125.78 | 84.91 | 2.79% | 3,040.34 | 3,130.50 | 43.90% | ||
| Materials | 524.15 | 12.69 | 2.48% | 511.42 | 527.19 | 7.07% | ||
| Real Estate | 243.40 | 6.24 | 2.63% | 237.98 | 243.44 | 4.75% | ||
| Utilities | 339.66 | 7.52 | 2.26% | 330.75 | 341.06 | -5.25% |
Global Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| UK FTSE 100 | 7,434.57 | 177.63 | 2.45% | 7,238.72 | 7,480.43 | -0.23% | ||
| France CAC 40 | 7,374.54 | 262.66 | 3.69% | 7,082.46 | 7,409.01 | 13.91% | ||
| Spain IBEX 35 | 9,438.30 | 189.50 | 2.05% | 9,183.00 | 9,523.60 | 14.69% | ||
| Germany DAX 40 | 16,105.07 | 501.67 | 3.22% | 15,545.33 | 16,185.11 | 15.67% | ||
| India BSE Sensex | 66,060.90 | 780.45 | 1.20% | 65,246.40 | 66,159.79 | 8.58% | ||
| China Shanghai Comp | 3,237.70 | 41.09 | 1.29% | 3,192.66 | 3,248.39 | 4.81% | ||
| HK Hang Seng 50 | 19,413.78 | 1,048.08 | 5.71% | 18,417.63 | 19,534.82 | -1.86% | ||
| Japan Nikkei 225 | 32,391.26 | 2.84 | 0.01% | 31,791.71 | 32,780.63 | 24.13% | ||
| Australia ASX 200 | 7,303.10 | 260.80 | 3.70% | 6,998.10 | 7,313.70 | 3.76% |
Currencies
| Currency | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| CAD Canadian Dollar | 1.3219 | -0.0061 | -0.46% | 1.3093 | 1.3307 | -2.47% | ||
| MXN Mexican Peso | 16.7528 | -0.3929 | -2.29% | 16.7159 | 17.1741 | -14.03% | ||
| COP Colombian Peso | 4,080.00 | -79.25 | -1.91% | 4,057.51 | 4,216.22 | -15.85% | ||
| BRL Brazilian Real | 4.7917 | -0.0809 | -1.66% | 4.7766 | 4.9220 | -9.33% | ||
| GBP British Pound Sterling | 0.7638 | -0.0152 | -1.95% | 0.7609 | 0.7843 | -7.60% | ||
| EUR Euro | 0.8905 | -0.0211 | -2.31% | 0.8891 | 0.9138 | -4.70% | ||
| CHF Swiss Franc | 0.8614 | -0.0270 | -3.04% | 0.8567 | 0.8920 | -6.89% | ||
| CZK Czech Koruna | 21.1705 | -0.5693 | -2.62% | 21.1233 | 21.8112 | -6.19% | ||
| NOK Norwegian Krone | 10.0493 | -0.5763 | -5.42% | 9.9384 | 10.6917 | 2.45% | ||
| SEK Swedish Krona | 10.2467 | -0.5758 | -5.32% | 10.1814 | 10.8710 | -1.83% | ||
| RUB Russian Ruble | 90.25 | -1.01 | -1.11% | 89.45 | 95.00 | 22.37% | ||
| SAR Saudi Riyal | 3.7515 | 0.0007 | 0.02% | 3.7490 | 3.7554 | -0.18% | ||
| AED UAE Dirham | 3.6731 | 0.0001 | 0.00% | 3.6725 | 3.6732 | 0.01% | ||
| INR Indian Rupee | 82.14 | -0.51 | -0.62% | 81.57 | 82.73 | -0.74% | ||
| THB Thai Baht | 34.64 | -0.46 | -1.31% | 34.48 | 35.24 | 0.06% | ||
| SGD Singapore Dollar | 1.3213 | -0.0254 | -1.89% | 1.3172 | 1.3500 | -1.46% | ||
| MYR Malaysian Ringgit | 4.5260 | -0.1440 | -3.08% | 4.5154 | 4.6716 | 2.75% | ||
| CNH Chinese Yuan | 7.1585 | -0.0758 | -1.05% | 7.1226 | 7.2490 | 3.42% | ||
| HKD Hong Kong Dollar | 7.8147 | -0.0128 | -0.16% | 7.8137 | 7.8318 | 0.11% | ||
| KRW South Korean Won | 1,269.30 | -29.07 | -2.24% | 1,260.07 | 1,307.45 | 0.58% | ||
| JPY Japanese Yen | 138.65 | -3.47 | -2.44% | 137.27 | 143.01 | 5.74% | ||
| AUD Australian Dollar | 1.4628 | -0.0322 | -2.15% | 1.4501 | 1.5101 | -0.16% | ||
| NZD New Zealand Dollar | 1.5701 | -0.0428 | -2.65% | 1.5593 | 1.6218 | -0.30% |
* Rates are quoted as the amount of local currency to buy 1 US Dollar.
Commodities
- Average US Regular Gas Price – increased 1.9 cents or 0.54% this week to $3.546 a gallon. See more about US Regular Gas Prices.
- EIA Crude Oil Inventories – increased by 5.95M barrels last week compared to prior week decrease of -1.51M
- EIA Natural Gas Inventories – increased 49 bcf last week compared to prior week increase of 72 bcf (billion cubic feet)
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Gold | 1,964.40 | 31.90 | 1.65% | 1,918.00 | 1,968.50 | 7.57% | ||
| Silver | 25.19 | 1.91 | 8.18% | 22.94 | 25.26 | 4.80% | ||
| Platinum | 984.30 | 65.80 | 7.16% | 909.80 | 986.90 | -9.11% | ||
| Palladium | 1,266.40 | 21.30 | 1.71% | 1,185.00 | 1,305.00 | -29.57% | ||
| Crude Oil | 75.42 | 1.56 | 2.11% | 72.67 | 77.33 | -6.03% | ||
| Natural Gas | 2.5300 | -0.0400 | -1.56% | 2.4870 | 2.7160 | -38.35% | ||
| Lumber | 579.50 | 18.50 | 3.30% | 557.00 | 597.00 | 55.07% | ||
| Steel (HRC) | 960.00 | 20.00 | 2.13% | 927.00 | 990.00 | 29.03% | ||
| Copper | 3.9330 | 0.1510 | 3.99% | 3.7425 | 3.9540 | 3.21% | ||
| Corn | 5.1375 | 0.1925 | 3.89% | 4.8100 | 5.1575 | -24.28% | ||
| Wheat | 6.6150 | 0.1200 | 1.85% | 6.2200 | 6.6525 | -16.48% | ||
| Soybeans | 13.7075 | 0.5300 | 4.02% | 13.1775 | 13.8425 | -10.06% | ||
| Coffee | 1.6080 | -0.0010 | -0.06% | 1.5550 | 1.6180 | -3.89% | ||
| Cattle | 1.8018 | 0.0317 | 1.79% | 1.7520 | 1.8118 | 14.11% | ||
| Lean Hogs | 0.9620 | 0.0105 | 1.10% | 0.9388 | 0.9900 | 9.69% |
Interest Rates
- Federal Funds Effective Rate – has remained the same this week 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 6.96% from 6.81% last week. Learn more about 30 year mortgage rates.
- MBA Mortgage Applications Index – increased by 0.9% this week compared to the prior week decrease of 4.4%
| Maturity | Week Close | Week Change | Low | Week Range | High | |
|---|---|---|---|---|---|---|
| US 1 Month | 5.253% | 0.018% | 5.224% | 5.301% | ||
| US 3 Month | 5.396% | 0.036% | 5.346% | 5.422% | ||
| US 1 Year | 5.324% | -0.091% | 5.248% | 5.438% | ||
| US 5 Year | 4.047% | -0.318% | 3.933% | 4.374% | ||
| US 10 Year | 3.832% | -0.236% | 3.757% | 4.092% | ||
| US 30 Year | 3.929% | -0.117% | 3.876% | 4.088% |
Cryptocurrencies
- Total Crypto Market Cap – increased 2.96% or 34.92B this week to 1,214B
| Rank* | Crypto | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BTC | 30,305.65 | -14.39 | -0.05% | 29,921.99 | 31,706.10 | 83.14% | ||
| 2 | ETH | 1,935.26 | 62.88 | 3.36% | 1,845.66 | 2,017.49 | 61.71% | ||
| 3 | XRP | 0.7185 | 0.2489 | 53.01% | 0.4654 | 0.8985 | 111.39% | ||
| 4 | BNB | 247.89 | 12.35 | 5.24% | 232.12 | 261.15 | 0.63% | ||
| 5 | ADA | 0.3285 | 0.0444 | 15.63% | 0.2798 | 0.3752 | 33.27% | ||
| 6 | SOL | 26.76 | 5.31 | 24.74% | 20.61 | 30.08 | 168.64% | ||
| 7 | DOGE | 0.0684 | 0.0031 | 4.68% | 0.0640 | 0.0728 | -2.62% | ||
| 8 | TRX | 0.0797 | 0.0006 | 0.70% | 0.0766 | 0.0828 | 46.26% | ||
| 9 | LTC | 95.10 | -3.16 | -3.21% | 92.70 | 103.97 | 35.85% | ||
| 10 | MATIC | 0.8089 | 0.1327 | 19.63% | 0.6727 | 0.8734 | 6.64% |
* Rank is based on market cap of non-stablecoins.
Other Fascinating Stats
The US National Debt increased 116.27 billion (Wednesday July 5th to Wednesday July 12th), to a total debt of $32,518,395,816,772.17 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 decreased this week to 146 from 149 last week, the sun has had 0 spotless days in 2023. See more about Sunspots and space weather.
NASA has cataloged 7 new exoplanets this week, the total increased to 5,470 confirmed and catalogued Exoplanets across 4,207 confirmed Planetary Systems. 229 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.