Brief
This report covers the 41st week of the year spanning Friday, October 6th, through Friday, October 13th, 2023. The week in numbers provides key statistics and data, economic reports, market performance and fun science stats for the week.
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Highlights
- The National Debt has increased 2.07 Trillion since the National Debt ceiling was suspended on June 1st, 2023
- Solana (SOL) remains the best performing major crypto YTD up 120.1%
- 30 Year average mortgage rates continue to make 24 year highs this week at 7.57% this week
- Gold and Silver both jump more than 5.2% this week
- Cryptos lost 3.8% with the total market cap loosing 41.7B down to 1,053B
- NASA confirmed and catalogued 5 new exoplanets this week
Market summary
The US stock market was up a little this week, an average of 0.22% according to the Wilshire 5000 Total Market Index. S&P 500 Energy sector was up the most for the week gaining 4.51% followed by Utilities up 3.61%. Consumer Discretionary fell the most, down 0.68%.
The Producer Price Index (PPI) and Consumer Price Index (CPI) both came in this week higher than expected. The PPI came in at 2.2% YOY, higher than the 1.6% in August. The CPI was up 3.7% YOY in September matching August’s rate. This indicates inflation is likely to remain higher for longer than expected. With the PPI over 2% the market has been closely watching the price Oil as this represents powerful underlying factor in future PPI, which is a leading indicator of CPI. On Friday stocks moved sharply lower after Oil prices started rising to $87 a barrel and the Michigan Consumer Sentiment report came in reasonably below expectations at 63.0 versus 67.5.
Asian stocks had a good week with Japan’s Nikkei up 4.26%, while other major global indexes were flat to mixed.
The dollar mostly got stronger this week however the Treasury Yield curve moved in the opposite direction this week with longer terms rates falling more than short term rates. This reversed a 6 week trend of the yield curve flattening. A week ago the 1 year was paying 0.45% more than the 30 year, while this week that gap increased with the 1 year paying 0.65% more than the 30 year. Check out the Economic Indicators page to see the current Yield Curve.
Economic Reports
Monday, October 9th
- No notable economic reports
Tuesday, October 10th
- No notable economic reports
Wednesday, October 11th
- PPI for September increased 0.5%, more than the expected increase of 0.3% but less than last month’s increase of 0.7%. YOY PPI was 2.2% vs 1.6% in August
- Core PPI for September increased 0.3%, more than the expected increase of 0.2% and more than last month’s increase of 0.2%. YOY Core PPI was 2.7% vs 2.2% in August.
Thursday, October 12th
- Initial Jobless Claims for last week were unchanged at 209,000 new claims, less than the expected 215,000
- Continuing Jobless Claims increased by 30,000 to 1.70 million
- CPI for September increased 0.4%, more than the expected increase of 0.3% and less than last month’s increase of 0.6%. YOY CPI was unchanged at 3.7%.
- Core CPI for September increased 0.3%, less than the expected increase of 0.3% and less than last month’s increase of 0.3%. YOY Core CPI dropped to 4.1% from 4.3% in August.
Friday, October 13th
- Univ. of Michigan Consumer Sentiment – Prelim for October was 63.0, less than the expected 67.5 and less than last month’s 68.1
Next Week’s Major Reports
- Retail Sales – Tuesday, October 17th
- Housing Starts – Wednesday, October 18th
- Building Permits – Wednesday, October 18th
- Existing Home Sales – Thursday, October 19th
See more Economic News at Briefing.com or learn about each economic report in our knowledge hub.
US Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| DJIA | 33,670.29 | 262.71 | 0.79% | 33,253.69 | 33,957.72 | 1.58% | ||
| Nasdaq | 13,407.23 | -24.11 | -0.18% | 13,277.48 | 13,714.14 | 28.10% | ||
| S&P 500 | 4,327.78 | 19.28 | 0.45% | 4,283.79 | 4,385.85 | 12.72% | ||
| Wilshire 5000 | 42,588.21 | 93.43 | 0.22% | 42,588.21 | 43,185.46 | 11.86% |
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Communication Services | 228.50 | -0.49 | -0.21% | 228.50 | 234.15 | 43.38% | ||
| Consumer Discretionary | 1,252.16 | -8.56 | -0.68% | 1,252.16 | 1,282.90 | 24.53% | ||
| Consumer Staples | 705.78 | 1.27 | 0.18% | 699.88 | 712.57 | -9.41% | ||
| Energy | 686.44 | 29.65 | 4.51% | 670.72 | 686.44 | 2.10% | ||
| Financials | 552.00 | 2.64 | 0.48% | 549.55 | 554.41 | -3.11% | ||
| Health Care | 1,516.76 | 1.48 | 0.10% | 1,507.53 | 1,528.21 | -4.34% | ||
| Industrials | 860.99 | 8.49 | 1.00% | 860.99 | 876.60 | 3.56% | ||
| Information Technology | 2,995.79 | 4.69 | 0.16% | 2,995.79 | 3,042.10 | 37.92% | ||
| Materials | 488.74 | -2.15 | -0.44% | 488.74 | 498.08 | -0.17% | ||
| Real Estate | 215.30 | 4.76 | 2.26% | 213.27 | 218.23 | -7.35% | ||
| Utilities | 301.00 | 10.49 | 3.61% | 293.44 | 302.27 | -16.03% |
Global Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| UK FTSE 100 | 7,599.60 | 105.02 | 1.40% | 7,473.19 | 7,687.91 | 1.98% | ||
| France CAC 40 | 7,003.53 | -56.62 | -0.80% | 6,980.33 | 7,182.30 | 8.18% | ||
| Spain IBEX 35 | 9,232.90 | -2.90 | -0.03% | 9,111.80 | 9,434.50 | 12.20% | ||
| Germany DAX 40 | 15,186.66 | -43.11 | -0.28% | 15,077.66 | 15,575.28 | 9.07% | ||
| India BSE Sensex | 66,282.74 | 287.11 | 0.44% | 65,434.61 | 66,592.16 | 8.94% | ||
| China Shanghai Comp | 3,088.10 | -22.38 | -0.72% | 3,071.94 | 3,109.99 | -0.04% | ||
| HK Hang Seng 50 | 17,813.45 | 327.47 | 1.87% | 17,447.76 | 18,290.91 | -9.95% | ||
| Japan Nikkei 225 | 32,315.99 | 1,321.32 | 4.26% | 31,314.67 | 32,533.08 | 23.84% | ||
| Australia ASX 200 | 7,051.00 | 96.80 | 1.39% | 6,963.50 | 7,112.70 | 0.17% |
Currencies
| Currency | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| CAD Canadian Dollar | 1.3659 | -0.0006 | -0.04% | 1.3570 | 1.3703 | 0.77% | ||
| MXN Mexican Peso | 18.0923 | -0.0791 | -0.44% | 17.7545 | 18.4198 | -7.16% | ||
| COP Colombian Peso | 4,237.00 | -89.50 | -2.07% | 4,172.00 | 4,343.50 | -12.62% | ||
| BRL Brazilian Real | 5.0796 | -0.0704 | -1.37% | 5.0285 | 5.1728 | -3.88% | ||
| GBP British Pound Sterling | 0.8234 | 0.0060 | 0.73% | 0.8105 | 0.8263 | -0.39% | ||
| EUR Euro | 0.9514 | 0.0071 | 0.75% | 0.9398 | 0.9528 | 1.82% | ||
| CHF Swiss Franc | 0.9023 | -0.0076 | -0.84% | 0.8987 | 0.9124 | -2.46% | ||
| CZK Czech Koruna | 23.5068 | 0.4021 | 1.74% | 23.0595 | 23.5570 | 4.16% | ||
| NOK Norwegian Krone | 10.9474 | 0.0321 | 0.29% | 10.7628 | 10.9970 | 11.60% | ||
| SEK Swedish Krona | 11.0452 | 0.0887 | 0.81% | 10.8483 | 11.0585 | 5.82% | ||
| RUB Russian Ruble | 97.70 | -3.30 | -3.27% | 95.35 | 103.04 | 32.47% | ||
| SAR Saudi Riyal | 3.7513 | 0.0006 | 0.02% | 3.7474 | 3.7536 | -0.18% | ||
| AED UAE Dirham | 3.6730 | -0.0001 | 0.00% | 3.6727 | 3.6732 | 0.01% | ||
| INR Indian Rupee | 83.42 | 0.31 | 0.37% | 83.05 | 83.45 | 0.81% | ||
| THB Thai Baht | 36.25 | -0.67 | -1.81% | 36.09 | 37.16 | 4.71% | ||
| SGD Singapore Dollar | 1.3695 | 0.0044 | 0.32% | 1.3603 | 1.3728 | 2.13% | ||
| MYR Malaysian Ringgit | 4.7285 | 0.0150 | 0.32% | 4.7100 | 4.7370 | 7.34% | ||
| CNH Chinese Yuan | 7.3133 | 0.0042 | 0.06% | 7.2701 | 7.3189 | 5.66% | ||
| HKD Hong Kong Dollar | 7.8247 | -0.0069 | -0.09% | 7.8159 | 7.8329 | 0.24% | ||
| KRW South Korean Won | 1,353.15 | 8.79 | 0.65% | 1,335.37 | 1,355.02 | 7.23% | ||
| JPY Japanese Yen | 149.57 | 0.27 | 0.18% | 148.17 | 149.88 | 14.07% | ||
| AUD Australian Dollar | 1.5886 | 0.0227 | 1.45% | 1.5516 | 1.5908 | 8.42% | ||
| NZD New Zealand Dollar | 1.6981 | 0.0287 | 1.72% | 1.6513 | 1.7001 | 7.83% |
* Rates are quoted as the amount of local currency to buy 1 US Dollar.
Commodities
- Average US Regular Gas Price – decreased 11.4 cents or -3.00% this week to $3.684 a gallon. See more about US Regular Gas Prices.
- EIA Crude Oil Inventories – increased by 10.18M barrels last week compared to prior week decrease of 2.22M
- EIA Natural Gas Inventories – increased 84 bcf last week compared to prior week increase of 86 bcf (billion cubic feet)
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Gold | 1,941.50 | 96.30 | 5.22% | 1,857.50 | 1,946.20 | 6.31% | ||
| Silver | 22.90 | 1.17 | 5.40% | 21.71 | 22.99 | -4.76% | ||
| Platinum | 884.20 | 2.70 | 0.31% | 867.90 | 902.60 | -18.35% | ||
| Palladium | 1,145.20 | -17.90 | -1.54% | 1,116.50 | 1,189.50 | -36.31% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Crude Oil | 87.69 | 4.90 | 5.92% | 82.31 | 87.83 | 9.26% | ||
| Natural Gas | 3.2360 | -0.1020 | -3.06% | 3.2030 | 3.4710 | -21.15% | ||
| Gasoline | 2.2653 | 0.0731 | 3.33% | 2.1527 | 2.2820 | -8.59% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Lumber | 506.50 | 13.50 | 2.74% | 488.00 | 508.00 | 35.54% | ||
| Steel (HRC) | 695.00 | -10.00 | -1.42% | 695.00 | 704.00 | -6.59% | ||
| Copper | 3.5710 | -0.0565 | -1.56% | 3.5570 | 3.6745 | -6.29% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Corn | 4.9325 | 0.0125 | 0.25% | 4.8225 | 4.9875 | -27.30% | ||
| Wheat | 5.7975 | 0.1150 | 2.02% | 5.4725 | 5.8625 | -26.80% | ||
| Soybeans | 12.8025 | 0.1425 | 1.13% | 12.5050 | 12.9975 | -15.99% | ||
| Coffee | 1.5490 | 0.0885 | 6.06% | 1.4370 | 1.5565 | -7.41% | ||
| Sugar | 0.2703 | 0.0029 | 1.08% | 0.2625 | 0.2728 | 34.88% | ||
| Cocoa | 3,499.00 | 46.00 | 1.33% | 3,406.00 | 3,514.00 | 34.58% | ||
| Cotton | 0.8606 | -0.0108 | -1.24% | 0.8414 | 0.8876 | 3.23% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Cattle | 1.8675 | 0.0008 | 0.04% | 1.8425 | 1.8813 | 18.27% | ||
| Lean Hogs | 0.6950 | -0.0408 | -5.54% | 0.6883 | 0.7328 | -20.75% | ||
| Feeder Cattle | 2.4988 | 0.0150 | 0.60% | 2.4650 | 2.5213 | 36.02% |
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 7.57% from 7.49% last week. Learn more about 30 year mortgage rates.
- MBA Mortgage Applications Index – increased by 0.6% this week compared to the prior week decrease of 6.0%
| Maturity | Week Close | Week Change | Low | Week Range | High | |
|---|---|---|---|---|---|---|
| US 1 Month | 5.427% | 0.003% | 5.396% | 5.445% | ||
| US 3 Month | 5.495% | -0.012% | 5.451% | 5.521% | ||
| US 1 Year | 5.413% | -0.013% | 5.352% | 5.448% | ||
| US 5 Year | 4.646% | -0.114% | 4.541% | 4.760% | ||
| US 10 Year | 4.627% | -0.177% | 4.532% | 4.804% | ||
| US 30 Year | 4.766% | -0.208% | 4.670% | 4.974% |
Cryptocurrencies
- Total Crypto Market Cap – decreased 3.81% or -41.7B this week to 1,053B
| Rank* | Crypto | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BTC | 26,841.72 | -1,091.28 | -3.91% | 26,548.13 | 28,094.99 | 62.21% | ||
| 2 | ETH | 1,563.34 | -88.59 | -5.36% | 1,537.59 | 1,654.11 | 30.63% | ||
| 3 | BNB | 205.82 | -7.72 | -3.61% | 203.31 | 214.02 | -16.45% | ||
| 4 | XRP | 0.4860 | -0.0401 | -7.63% | 0.4767 | 0.5266 | 42.97% | ||
| 5 | SOL | 21.92 | -1.58 | -6.71% | 21.17 | 23.97 | 120.05% | ||
| 6 | ADA | 0.2447 | -0.0193 | -7.29% | 0.2423 | 0.2658 | -0.72% | ||
| 7 | DOGE | 0.0584 | -0.0030 | -4.95% | 0.0575 | 0.0617 | -16.96% | ||
| 8 | TRX | 0.0858 | -0.0016 | -1.84% | 0.0851 | 0.0888 | 57.45% | ||
| 9 | LTC | 61.80 | -3.89 | -5.92% | 60.99 | 66.47 | -11.72% | ||
| 10 | MATIC | 0.5152 | -0.0487 | -8.63% | 0.5023 | 0.5786 | -32.08% |
* Rank is based on market cap of non-stablecoins.
Fascinating Stats
US National Debt
The US National Debt increased 59.2 billion (Wednesday, October 4th to Wednesday, October 11th), to a total debt of $33,537,137,879,410.41 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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6.6
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867.8
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276.3
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305.6
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253.2
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369.8
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| May | Jun | Jul | Aug | Sep | Oct |
Space Weather – Solar Sunspots
The number of solar Sunspots (magnetic storms on the surface of the sun facing Earth) has decreased this week to 126 from 179 last week, the sun has had 0 spotless days in 2023. We are about 2 years into a 5 year solar cycle known as Solar Maximum where sunspots are in constant very high numbers. See more about Sunspots and space weather.
Exoplanet Discoveries
NASA has cataloged 5 new exoplanets this week, the total has increased to 5,528 confirmed and catalogued Exoplanets across 4,253 confirmed Planetary Systems. 287 Exoplanets have been confirmed this year so far and there are 9,899 Exoplanet Candidates being evaluated for confirmation. Learn about all of the Exoplanets from NASA’s Exoplanet Catalog.