Brief
This report covers the 32nd week of the year spanning Friday, August 4th, through Friday, August 11th, 2023.
- Droughts in Panama are causing major shipping delays through Panama Canal (Barron’s slideshow) (The Maritime Executive article)
- The National Debt has increased 1.16 Trillion since the National Debt ceiling was suspended on June 1st, 2023
- Average US Regular Gasoline prices increased again this week by 7 cents to 3.83 a gallon
- The price of Crude Oil is up for the 7th consecutive week, gaining $14.03 or 20.3% per barrel over the stretch at 83.19
- S&P500 Energy sector flips positive YTD this week
- Solana (SOL) is the best performing major crypto YTD up 147%
- NASA has confirmed and cataloged 13 new exoplanets this week
Economic Reports
Monday, August 7th
- Consumer Credit for June increased $17.9B, more than the expected increase of $13.0B and more than last month’s increase of $9.4B
Tuesday, August 8th
- No notable economic reports
Wednesday, August 9th
- No notable economic reports
Thursday, August 10th
- Initial Jobless Claims for last week increased by 21,000 to 248,000 new claims, less than the expected 233,000
- Continuing Jobless Claims decreased by 8,000 to 1.68 million
- CPI for July increased 0.2%, matching expectations and last month’s increase of 0.2%
- Core CPI for July increased 0.2%, matching expectations and last month’s increase of 0.2%
- Treasury Budget for July was a deficit of $221.0B, slightly better than last month’s deficit of $227.8B
Friday, August 11th
- PPI for July increased 0.3%, more than the expected increase of 0.2% and more than last month’s 0%
- Core PPI for July increased 0.3%, more than the expected increase of 0.2% and more than last month’s decrease of 0.1%
- Univ. of Michigan Consumer Sentiment – Preliminary for August was 71.2, more than the expected 70.9 but less than last month’s 71.6
Next Week’s Major Reports
- Retail Sales – Tuesday, August 15th
- Housing Starts – Wednesday, August 16th
- Building Permits – Wednesday, August 16th
- Capacity Utilization – Wednesday, August 16th
See more Economic News at Briefing.com or learn about each economic report in our knowledge hub.
US Stocks
The US stock market had a negative week, with an average decrease of 0.49%. The S&P500 Energy Sector posted the largest gain for the week up 3.54%. While Information Technology was the biggest decliner, dropping 2.87%.
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| DJIA | 35,281.40 | 215.78 | 0.62% | 35,007.41 | 35,578.58 | 6.44% | ||
| Nasdaq | 13,644.85 | -264.39 | -1.90% | 13,609.98 | 13,997.15 | 30.37% | ||
| S&P 500 | 4,464.05 | -13.98 | -0.31% | 4,443.98 | 4,527.37 | 16.27% | ||
| Wilshire 5000 | 44,223.45 | -216.02 | -0.49% | 44,223.45 | 44,801.22 | 16.15% |
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Communication Services | 224.86 | 0.73 | 0.33% | 224.86 | 228.35 | 41.09% | ||
| Consumer Discretionary | 1,338.53 | -13.37 | -0.99% | 1,338.53 | 1,366.76 | 33.12% | ||
| Consumer Staples | 785.16 | 2.34 | 0.30% | 783.70 | 789.49 | 0.77% | ||
| Energy | 686.84 | 23.46 | 3.54% | 664.37 | 686.84 | 2.16% | ||
| Financials | 579.89 | -0.13 | -0.02% | 578.26 | 587.93 | 1.78% | ||
| Health Care | 1,579.26 | 37.87 | 2.46% | 1,559.63 | 1,579.26 | -0.40% | ||
| Industrials | 919.97 | 4.81 | 0.53% | 919.02 | 926.67 | 10.65% | ||
| Information Technology | 2,944.98 | -87.04 | -2.87% | 2,944.98 | 3,040.07 | 35.58% | ||
| Materials | 520.56 | -5.28 | -1.00% | 520.56 | 529.50 | 6.33% | ||
| Real Estate | 234.49 | 1.92 | 0.83% | 234.05 | 235.39 | 0.91% | ||
| Utilities | 327.38 | 2.73 | 0.84% | 324.58 | 327.38 | -8.68% |
Global Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| UK FTSE 100 | 7,524.16 | -40.21 | -0.53% | 7,487.47 | 7,622.92 | 0.97% | ||
| France CAC 40 | 7,340.19 | 25.12 | 0.34% | 7,219.12 | 7,464.79 | 13.38% | ||
| Spain IBEX 35 | 9,434.30 | 65.92 | 0.70% | 9,213.60 | 9,522.90 | 14.65% | ||
| Germany DAX 40 | 15,832.17 | -119.69 | -0.75% | 15,706.31 | 16,060.27 | 13.71% | ||
| India BSE Sensex | 65,322.65 | -398.60 | -0.61% | 65,274.61 | 66,067.90 | 7.37% | ||
| China Shanghai Comp | 3,189.25 | -98.83 | -3.01% | 3,189.25 | 3,276.78 | 3.24% | ||
| HK Hang Seng 50 | 19,075.19 | -464.27 | -2.38% | 19,030.39 | 19,581.82 | -3.57% | ||
| Japan Nikkei 225 | 32,473.65 | 280.90 | 0.87% | 31,830.23 | 32,539.88 | 24.45% | ||
| Australia ASX 200 | 7,340.10 | 14.80 | 0.20% | 7,294.60 | 7,361.20 | 4.28% |
Currencies
| Currency | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| CAD Canadian Dollar | 1.3443 | 0.0071 | 0.53% | 1.3356 | 1.3505 | -0.82% | ||
| MXN Mexican Peso | 17.0086 | -0.0711 | -0.42% | 16.9113 | 17.2838 | -12.72% | ||
| COP Colombian Peso | 3,962.85 | -141.62 | -3.45% | 3,930.83 | 4,144.53 | -18.27% | ||
| BRL Brazilian Real | 4.9079 | 0.0345 | 0.71% | 4.8404 | 4.9381 | -7.13% | ||
| GBP British Pound Sterling | 0.7876 | 0.0032 | 0.41% | 0.7801 | 0.7896 | -4.72% | ||
| EUR Euro | 0.9135 | 0.0053 | 0.58% | 0.9037 | 0.9150 | -2.24% | ||
| CHF Swiss Franc | 0.8774 | 0.0044 | 0.50% | 0.8678 | 0.8784 | -5.16% | ||
| CZK Czech Koruna | 21.9764 | -0.0673 | -0.31% | 21.8805 | 22.2210 | -2.62% | ||
| NOK Norwegian Krone | 10.4262 | 0.2755 | 2.71% | 10.0893 | 10.4740 | 6.29% | ||
| SEK Swedish Krona | 10.8131 | 0.2326 | 2.20% | 10.5462 | 10.8509 | 3.60% | ||
| RUB Russian Ruble | 100.00 | 4.12 | 4.30% | 94.56 | 100.00 | 35.59% | ||
| SAR Saudi Riyal | 3.7520 | 0.0004 | 0.01% | 3.7506 | 3.7529 | -0.16% | ||
| AED UAE Dirham | 3.6731 | 0.0001 | 0.00% | 3.6726 | 3.6732 | 0.01% | ||
| INR Indian Rupee | 83.03 | 0.35 | 0.42% | 82.59 | 83.98 | 0.34% | ||
| THB Thai Baht | 35.09 | 0.39 | 1.12% | 34.51 | 35.20 | 1.36% | ||
| SGD Singapore Dollar | 1.3527 | 0.0100 | 0.74% | 1.3385 | 1.3549 | 0.88% | ||
| MYR Malaysian Ringgit | 4.5870 | 0.0320 | 0.70% | 4.5444 | 4.5900 | 4.13% | ||
| CNH Chinese Yuan | 7.2604 | 0.0731 | 1.02% | 7.1817 | 7.2629 | 4.90% | ||
| HKD Hong Kong Dollar | 7.8176 | 0.0062 | 0.08% | 7.8056 | 7.8229 | 0.14% | ||
| KRW South Korean Won | 1,330.60 | 26.98 | 2.07% | 1,298.82 | 1,333.37 | 5.44% | ||
| JPY Japanese Yen | 144.92 | 3.19 | 2.25% | 141.54 | 145.06 | 10.52% | ||
| AUD Australian Dollar | 1.5392 | 0.0171 | 1.12% | 1.5113 | 1.5420 | 5.05% | ||
| NZD New Zealand Dollar | 1.6653 | 0.0227 | 1.38% | 1.6345 | 1.6739 | 5.75% |
* Rates are quoted as the amount of local currency to buy 1 US Dollar.
Commodities
- Average US Regular Gas Price – increased 7.1 cents or 1.89% this week to $3.828 a gallon. See more about US Regular Gas Prices.
- EIA Crude Oil Inventories – increased by 5.85M barrels last week compared to prior week decrease of 17.1M
- EIA Natural Gas Inventories – increased 29 bcf last week compared to prior week increase of 14 bcf (billion cubic feet)
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Gold | 1,946.60 | -29.50 | -1.49% | 1,942.70 | 1,981.70 | 6.59% | ||
| Silver | 22.74 | -0.97 | -4.10% | 22.61 | 23.78 | -5.40% | ||
| Platinum | 914.60 | -13.90 | -1.50% | 891.00 | 933.90 | -15.54% | ||
| Palladium | 1,309.10 | 44.50 | 3.52% | 1,196.50 | 1,346.00 | -27.19% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Crude Oil | 83.19 | 0.37 | 0.45% | 79.90 | 84.89 | 3.65% | ||
| Natural Gas | 2.7700 | 0.1930 | 7.49% | 2.5710 | 3.0180 | -32.50% | ||
| Gasoline | 2.9649 | 0.1818 | 6.53% | 2.7359 | 2.9859 | 19.63% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Lumber | 495.00 | -0.50 | -0.10% | 490.00 | 519.00 | 32.46% | ||
| Steel (HRC) | 806.00 | 3.00 | 0.37% | 792.00 | 812.00 | 8.33% | ||
| Copper | 3.7190 | -0.1485 | -3.84% | 3.6950 | 3.8770 | -2.40% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Corn | 4.8725 | -0.1000 | -2.01% | 4.8300 | 5.0750 | -28.19% | ||
| Wheat | 6.2675 | -0.0625 | -0.99% | 6.2425 | 6.6375 | -20.86% | ||
| Soybeans | 13.0750 | -0.2575 | -1.93% | 12.8225 | 13.3800 | -14.21% | ||
| Coffee | 1.5780 | -0.0355 | -2.20% | 1.5600 | 1.6490 | -5.68% | ||
| Sugar | 0.2433 | 0.0064 | 2.70% | 0.2329 | 0.2442 | 21.41% | ||
| Cocoa | 3,357.00 | -153.00 | -4.36% | 3,315.00 | 3,618.00 | 29.12% | ||
| Cotton | 0.8789 | 0.0360 | 4.27% | 0.8427 | 0.8883 | 5.42% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Cattle | 1.8133 | -0.0157 | -0.86% | 1.8050 | 1.8340 | 14.84% | ||
| Lean Hogs | 0.8133 | -0.0175 | -2.11% | 0.7965 | 0.8608 | -7.27% | ||
| Feeder Cattle | 2.4775 | -0.0177 | -0.71% | 2.4418 | 2.4990 | 34.87% |
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 6.96% from 6.81% last week. Learn more about 30 year mortgage rates.
- MBA Mortgage Applications Index – decreased by 3.1% this week compared to the prior week decrease of 3.0%
| Maturity | Week Close | Week Change | Low | Week Range | High | |
|---|---|---|---|---|---|---|
| US 1 Month | 5.399% | 0.049% | 5.308% | 5.399% | ||
| US 3 Month | 5.427% | 0.020% | 5.385% | 5.464% | ||
| US 1 Year | 5.349% | 0.013% | 5.298% | 5.363% | ||
| US 5 Year | 4.303% | 0.162% | 4.060% | 4.317% | ||
| US 10 Year | 4.154% | 0.108% | 3.950% | 4.173% | ||
| US 30 Year | 4.261% | 0.061% | 4.130% | 4.288% |
Cryptocurrencies
- Total Crypto Market Cap – increased 1.20% or 13.94B this week to 1,172B
| Rank* | Crypto | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BTC | 29,426.01 | 312.63 | 1.07% | 28,781.80 | 30,127.05 | 77.83% | ||
| 2 | ETH | 1,849.38 | 17.53 | 0.96% | 1,810.76 | 1,881.99 | 54.53% | ||
| 3 | BNB | 239.80 | -1.80 | -0.74% | 238.42 | 247.65 | -2.66% | ||
| 4 | XRP | 0.6327 | -0.0042 | -0.66% | 0.6064 | 0.6630 | 86.16% | ||
| 5 | DOGE | 0.0757 | 0.0023 | 3.07% | 0.0724 | 0.0768 | 7.68% | ||
| 6 | ADA | 0.2935 | 0.0001 | 0.04% | 0.2845 | 0.3021 | 19.07% | ||
| 7 | SOL | 24.59 | 1.78 | 7.82% | 22.50 | 24.96 | 146.87% | ||
| 8 | TRX | 0.0773 | 0.0000 | -0.06% | 0.0759 | 0.0786 | 41.80% | ||
| 9 | LTC | 83.66 | 1.26 | 1.53% | 80.97 | 85.80 | 19.52% | ||
| 10 | SHIB | 0.00001050 | 0.00000182 | 20.93% | 0.00000866 | 0.00001052 | 29.84% |
* Rank is based on market cap of non-stablecoins.
Other Fascinating Stats
US National Debt
The US National Debt increased 21.58 billion (Wednesday August 2nd to Wednesday August 9th), to a total debt of $32,620,930,327,834.11 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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| Mar | Apr | May | Jun | Jul | Aug |
Space Weather – Solar Sunspots
The number of solar Sunspots (magnetic storms on the surface of the sun facing Earth) has decreased this week to 83 from 124 last week, the sun has had 0 spotless days in 2023. See more about Sunspots and space weather.
Exoplanet Discoveries
NASA has cataloged 13 new exoplanets this week, the total has increased to 5,496 confirmed and catalogued Exoplanets across 4,229 confirmed Planetary Systems. 255 Exoplanets have been confirmed this year so far and there are 9,770 Exoplanet Candidates being evaluated for confirmation. Learn about all of the Exoplanets from NASA’s Exoplanet Catalog.