The Week In Numbers report – July 28th, 2023

Brief

This report covers the 30th week of the year spanning Friday, July 21st, through Friday, July 28th, 2023.

• The National Debt has increased 1.17 Trillion since the National Debt ceiling was suspended on June 1st, 2023
• The US Federal Reserve Bank increased The Fed Funds Rate 25 basis points to the target range of 5.25-5.50%
• The European Central bank increased rates 25 basis points to 3.75% (CNBC Article)
• S&P500 Health Care sector flipped back to negative YTD performance this week
• S&P500 Information Technology is the best performing sector YTD up 45.6%
• Solana (SOL) is the best performing major crypto YTD up 149.8%

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Economic Reports

Monday July 24th

• No notable economic reports

Tuesday July 25th

• S&P Case-Shiller Home Price Index for May decreased 1.7%, better than the expected decrease of 1.9% but matched last month’s decrease of 1.7%
• Consumer Confidence for July was 117.0, more than the expected 111.5 and more than last month’s 110.1

Wednesday July 26th

• New Home Sales for June decreased 2.5% month-over-month to an annual adjusted rate of 697K, less than the expected rate of 722K and less than last month’s rate of 715K
• FOMC Rate Decision for July The Fed increased rates by 25 basis points to a target rage between 5.25-5.50%

Thursday July 27th

• Initial Jobless Claims for last week decreased by 7,000 to 221,000 new claims, less than the expected 233,000
• Continuing Jobless Claims decreased by 59,000 to 1.690 million
• GDP-Adv. for Q2 shows annual GDP increasing at 2.4%, more than the expected annual rate of 1.6% and more than last quarter’s rate of 2.0%
• GDP Deflator-Adv. for Q2 dropped by 2.2% from Q1s 4.1%
• Durable Orders for June increased 4.7%, more than the expected increase of 1.0% and more than last month’s increase of 2.0%
• Durable Goods –ex transportation for June increased 0.6%, more than the expected increase of 0.2% but less than last month’s increase of 0.7%
• Pending Home Sales for June increased 0.3%, matching expectations and better than last month’s decrease of 2.5%

Friday July 28th

• Personal Income for June increased 0.3%, less than the expected increase of 0.5% but less than last month’s increase of 0.5%
• Personal Spending for June increased 0.5%, more than the expected increase of 0.3% and more than last month’s increase of 0.2%
• PCE Prices for June increased 0.2%, matching expectations and more than last month’s increase of 0.1%
• PCE Prices – Core for June increased 0.2%, matching expectations but less than last month’s increase of 0.3%
• Employment Cost Index for Q2 increased 1.0%, less than the expected increase of 1.1% and less than last quarter’s increase of 1.2%
• Univ. of Michigan Consumer Sentiment – Final for July was 71.6, less than the expected 72.6 and less than last month’s 72.6

Next Week’s Major Reports

• ISM Manufacturing Index – Tuesday, August 1st
• JOLTS Job Openings – Tuesday, August 1st
• Q1 Productivity Preliminary – Thursday, August 3rd
• ISM Non-Manufacturing Index – Thursday, August 3rd
• Nonfarm Payrolls – Friday, August 4th

See more Economic News at Briefing.com or learn about each economic report on our education page

US Stocks

The US stock market had a positive week, with an average increase of 0.97%. The S&P500 Communication Services segment had a significant gain of 6.85%. S&P 500 Utilities lost 2.10% and remains the poorest YTD performer down 5.01%.

Global Stocks

Currencies

Commodities

• Average US Regular Gas Price – increased 3.7 cents or 1.04% this week to $3.596 a gallon. See more about US Regular Gas Prices.
• EIA Crude Oil Inventories – decreased by 0.60M barrels last week compared to prior week decrease of 0.71M
• EIA Natural Gas Inventories – increased 16 bcf last week compared to prior week increase of 41 bcf (billion cubic feet)

Interest Rates

• Federal Funds Effective Rate – has increased a 25 basis points this week to 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 – decreased this week to 6.81% from 6.78% last week. Learn more about 30 year mortgage rates.
• MBA Mortgage Applications Index – decreased by 1.7% this week compared to the prior week increase of 1.1%

Cryptocurrencies

• Total Crypto Market Cap – decreased 1.73% or 20.89B this week to 1,185B

Other Fascinating Stats

The US National Debt increased 64.93 billion (Wednesday July 19th to Wednesday July 26th), to a total debt of $32,634,846,702,744.10 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 154 from 131 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 has remained the same at 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.