Brief
This report covers the 38th week of the year spanning Friday, September 15th, through Friday, September 22nd, 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 surpassed 33 Trillion on September 15th (32 Trillion was just surpassed on June 15th, 2023)
- The Fed has kept rates unchanged but plan to have one more 25 basis point increase before the end of 2023 (Investing.com article)
- The National Debt has increased 1.60 Trillion since the National Debt ceiling was suspended on June 1st, 2023
- Solana (SOL) remains the best performing major crypto YTD up 95.7% but that’s down from being up as high as 168% YTD
- S&P 500 Financial Sector has flipped negative YTD this week
- NASA confirmed and catalogued 9 new exoplanets this week
Market summary
The US stock market dropped significantly this week. The Wilshire 5000 Total Market Index was down 3.10%. Stocks were basically flat Monday and then fell everyday the rest of the week and closed at the lows of the week on Friday. All sectors were down this week with the largest sector decliner being Consumer Discretionary down 6.35%, followed by Real Estate down 5.36%.
Global stocks also had a bad week with all major indexes down except China which was slightly up 0.47%. Although US stocks were down the most, Australia was a close 2nd with the ASX 200 being down 2.89%.
The dollar mostly got stronger this week as the Fed made it clear interest rates the next 2 years would remain higher than originally estimated. Additionally, the Fed’s sentiment has helped the Treasury Yield curve to continue to flatten this week with longer term rates increasing more than shorter term rates. A week ago the 1 year was paying 1.01% more than the 30 year, while this week that gap is closing with the 1 year only paying 0.92% more than the 30 year. Check out the Economic Indicators page to see the current Yield Curve.
Crypto was also down this week with only Ripple (XRP) and Solana (SOL) of the top 10 major cryptos posting small gains of 2.27% and 1.44% respectively. The total crypto market cap fell 0.84% to 1.05 trillion.
Economic Reports
Monday, September 18th
- No notable economic reports
Tuesday, September 19th
- Housing Starts for August decreased 11.3% to a seasonally adjusted annual rate of 1.28M, less than the expected rate of 1.44M and less than July’s rate of 1.45M
- Building Permits for August increased 6.9% to 1.54M, better than the expected 1.44M and July’s 1.44M
Wednesday, September 20th
- FOMC Rate Decision – The Fed decided to leave rates unchanged this month
Thursday, September 21st
- Initial Jobless Claims for last week decreased by 19,000 to 202,000 new claims, less than the expected 233,000
- Continuing Jobless Claims decreased by 40,000 to 1.68 million
- Existing Home Sales for August decreased 0.7% to a seasonally adjust annual rate of 4.04M, less than the expected 4.10M and less than July’s rate of 4.07M
Friday, September 22nd
- No notable economic reports
Next Week’s Major Reports
- Consumer Confidence – Tuesday, September 26th
- New Home Sales – Tuesday, September 26th
- Durable Orders – Wednesday, September 27th
- GDP Q2 3rd Estimate – Thursday, September 28th
- Personal Income/Spending – Friday, September 29th
- PCE Prices – Friday, September 29th
- September Univ. of Michigan Consumer Sentiment Final – Friday, September 29th
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 | 33,963.84 | -654.40 | -1.89% | 33,947.24 | 34,776.28 | 2.46% | ||
| Nasdaq | 13,211.81 | -496.52 | -3.62% | 13,200.64 | 13,751.28 | 26.23% | ||
| S&P 500 | 4,320.06 | -130.26 | -2.93% | 4,316.49 | 4,466.36 | 12.52% | ||
| Wilshire 5000 | 42,647.69 | -1,362.24 | -3.10% | 42,647.69 | 43,995.14 | 12.01% |
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Communication Services | 222.24 | -7.41 | -3.23% | 222.24 | 230.28 | 39.45% | ||
| Consumer Discretionary | 1,267.40 | -85.91 | -6.35% | 1,267.40 | 1,339.68 | 26.05% | ||
| Consumer Staples | 742.89 | -13.50 | -1.78% | 742.89 | 757.03 | -4.65% | ||
| Energy | 685.48 | -16.36 | -2.33% | 684.42 | 706.64 | 1.95% | ||
| Financials | 561.05 | -16.13 | -2.79% | 561.05 | 579.00 | -1.53% | ||
| Health Care | 1,518.09 | -18.10 | -1.18% | 1,518.09 | 1,535.17 | -4.25% | ||
| Industrials | 861.67 | -23.79 | -2.69% | 861.67 | 886.46 | 3.64% | ||
| Information Technology | 2,908.04 | -78.52 | -2.63% | 2,900.48 | 3,000.66 | 33.88% | ||
| Materials | 493.72 | -18.89 | -3.69% | 493.72 | 510.41 | 0.85% | ||
| Real Estate | 217.26 | -12.31 | -5.36% | 217.27 | 227.70 | -6.50% | ||
| Utilities | 321.67 | -5.66 | -1.73% | 321.67 | 327.16 | -10.27% |
Global Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| UK FTSE 100 | 7,683.91 | -27.47 | -0.36% | 7,640.80 | 7,746.53 | 3.12% | ||
| France CAC 40 | 7,184.82 | -194.00 | -2.63% | 7,133.65 | 7,353.55 | 10.98% | ||
| Spain IBEX 35 | 9,501.98 | -47.72 | -0.50% | 9,455.30 | 9,672.20 | 15.47% | ||
| Germany DAX 40 | 15,557.29 | -336.24 | -2.12% | 15,471.75 | 15,870.62 | 11.73% | ||
| India BSE Sensex | 66,009.15 | -1,829.48 | -2.70% | 65,952.83 | 67,803.15 | 8.49% | ||
| China Shanghai Comp | 3,132.43 | 14.69 | 0.47% | 3,078.80 | 3,132.56 | 1.40% | ||
| HK Hang Seng 50 | 18,057.45 | -125.44 | -0.69% | 17,573.81 | 18,114.82 | -8.72% | ||
| Japan Nikkei 225 | 32,402.41 | -1,130.68 | -3.37% | 32,154.53 | 33,337.23 | 24.17% | ||
| Australia ASX 200 | 7,068.80 | -210.20 | -2.89% | 6,957.20 | 7,274.50 | 0.43% |
Currencies
| Currency | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| CAD Canadian Dollar | 1.3483 | -0.0049 | -0.36% | 1.3382 | 1.3539 | -0.52% | ||
| MXN Mexican Peso | 17.2132 | 0.1333 | 0.78% | 16.9986 | 17.2498 | -11.67% | ||
| COP Colombian Peso | 3,976.50 | 47.00 | 1.20% | 3,868.00 | 4,001.00 | -17.99% | ||
| BRL Brazilian Real | 4.9360 | 0.0695 | 1.43% | 4.8419 | 4.9381 | -6.60% | ||
| GBP British Pound Sterling | 0.8169 | 0.0093 | 1.15% | 0.8048 | 0.8177 | -1.17% | ||
| EUR Euro | 0.9391 | 0.0010 | 0.11% | 0.9312 | 0.9421 | 0.50% | ||
| CHF Swiss Franc | 0.9070 | 0.0094 | 1.05% | 0.8931 | 0.9080 | -1.96% | ||
| CZK Czech Koruna | 22.9219 | -0.1169 | -0.51% | 22.6843 | 23.0509 | 1.57% | ||
| NOK Norwegian Krone | 10.7510 | 0.0036 | 0.03% | 10.6829 | 10.8758 | 9.60% | ||
| SEK Swedish Krona | 11.1286 | -0.0563 | -0.50% | 11.0275 | 11.2721 | 6.62% | ||
| RUB Russian Ruble | 96.30 | -0.50 | -0.52% | 94.60 | 97.75 | 30.58% | ||
| SAR Saudi Riyal | 3.7512 | 0.0003 | 0.01% | 3.7490 | 3.7524 | -0.18% | ||
| AED UAE Dirham | 3.6731 | 0.0001 | 0.00% | 3.6727 | 3.6732 | 0.01% | ||
| INR Indian Rupee | 83.12 | 0.02 | 0.02% | 82.51 | 83.85 | 0.45% | ||
| THB Thai Baht | 36.01 | 0.30 | 0.84% | 35.62 | 36.35 | 4.02% | ||
| SGD Singapore Dollar | 1.3651 | 0.0019 | 0.14% | 1.3597 | 1.3700 | 1.80% | ||
| MYR Malaysian Ringgit | 4.6875 | 0.0035 | 0.07% | 4.6815 | 4.6991 | 6.41% | ||
| CNH Chinese Yuan | 7.2987 | 0.0180 | 0.25% | 7.2721 | 7.3216 | 5.45% | ||
| HKD Hong Kong Dollar | 7.8209 | -0.0066 | -0.08% | 7.8143 | 7.8291 | 0.19% | ||
| KRW South Korean Won | 1,335.56 | 6.15 | 0.46% | 1,319.54 | 1,344.56 | 5.83% | ||
| JPY Japanese Yen | 148.31 | 0.46 | 0.31% | 147.32 | 148.46 | 13.11% | ||
| AUD Australian Dollar | 1.5518 | -0.0022 | -0.14% | 1.5354 | 1.5659 | 5.91% | ||
| NZD New Zealand Dollar | 1.6773 | -0.0182 | -1.07% | 1.6694 | 1.6961 | 6.51% |
* Rates are quoted as the amount of local currency to buy 1 US Dollar.
Commodities
- Average US Regular Gas Price – increased 5.6 cents or 1.47% this week to $3.878 a gallon. See more about US Regular Gas Prices.
- EIA Crude Oil Inventories – decreased by 2.14M barrels last week compared to prior week increase of 3.96M
- EIA Natural Gas Inventories – increased 64 bcf last week compared to prior week increase of 57 bcf (billion cubic feet)
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Gold | 1,945.60 | -0.60 | -0.03% | 1,933.10 | 1,968.90 | 6.54% | ||
| Silver | 23.84 | 0.46 | 1.96% | 23.06 | 24.05 | -0.82% | ||
| Platinum | 934.10 | 4.60 | 0.49% | 916.90 | 955.00 | -13.74% | ||
| Palladium | 1,256.10 | 3.40 | 0.27% | 1,228.00 | 1,301.50 | -30.14% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Crude Oil | 90.03 | -0.74 | -0.82% | 88.37 | 93.74 | 12.17% | ||
| Natural Gas | 2.8790 | 0.2350 | 8.89% | 2.6000 | 2.9630 | -29.85% | ||
| Gasoline | 2.5119 | -0.1962 | -7.24% | 2.5104 | 2.7340 | 1.36% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Lumber | 482.50 | -18.00 | -3.60% | 478.50 | 499.00 | 29.11% | ||
| Steel (HRC) | 705.00 | 1.00 | 0.14% | 704.00 | 710.00 | -5.24% | ||
| Copper | 3.6960 | -0.1050 | -2.76% | 3.6340 | 3.8230 | -3.00% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Corn | 4.7725 | 0.0100 | 0.21% | 4.6775 | 4.8300 | -29.66% | ||
| Wheat | 5.7950 | -0.2475 | -4.10% | 5.7275 | 6.0425 | -26.83% | ||
| Soybeans | 12.9625 | -0.4400 | -3.28% | 12.9250 | 13.4450 | -14.94% | ||
| Coffee | 1.5115 | -0.0800 | -5.03% | 1.5005 | 1.6450 | -9.65% | ||
| Sugar | 0.2728 | 0.0012 | 0.44% | 0.2673 | 0.2788 | 36.13% | ||
| Cocoa | 3,582.00 | -175.00 | -4.66% | 3,553.00 | 3,754.00 | 37.77% | ||
| Cotton | 0.8591 | -0.0053 | -0.61% | 0.8555 | 0.8842 | 3.05% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Cattle | 1.8708 | 0.0015 | 0.08% | 1.8465 | 1.8745 | 18.48% | ||
| Lean Hogs | 0.7218 | -0.1095 | -13.17% | 0.7203 | 0.8380 | -17.70% | ||
| Feeder Cattle | 2.5915 | -0.0533 | -2.01% | 2.5753 | 2.6438 | 41.07% |
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 7.19% from 7.18% last week. Learn more about 30 year mortgage rates.
- MBA Mortgage Applications Index – increased by 5.4% this week compared to the prior week decrease of 0.8%
| Maturity | Week Close | Week Change | Low | Week Range | High | |
|---|---|---|---|---|---|---|
| US 1 Month | 5.386% | 0.003% | 5.372% | 5.411% | ||
| US 3 Month | 5.484% | 0.015% | 5.441% | 5.498% | ||
| US 1 Year | 5.453% | 0.021% | 5.418% | 5.495% | ||
| US 5 Year | 4.573% | 0.110% | 4.442% | 4.657% | ||
| US 10 Year | 4.440% | 0.109% | 4.300% | 4.511% | ||
| US 30 Year | 4.528% | 0.109% | 4.375% | 4.593% |
Cryptocurrencies
- Total Crypto Market Cap – decreased 0.84% or 8.9B this week to 1,053B
| Rank* | Crypto | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BTC | 26,577.61 | -50.08 | -0.19% | 26,414.75 | 27,461.08 | 60.61% | ||
| 2 | ETH | 1,602.09 | -44.30 | -2.69% | 1,577.91 | 1,672.33 | 33.87% | ||
| 3 | BNB | 211.27 | -2.98 | -1.39% | 209.93 | 220.95 | -14.24% | ||
| 4 | XRP | 0.5130 | 0.0114 | 2.27% | 0.4907 | 0.5241 | 50.93% | ||
| 5 | DOGE | 0.0615 | -0.0010 | -1.56% | 0.0610 | 0.0633 | -12.47% | ||
| 6 | ADA | 0.2448 | -0.0056 | -2.23% | 0.2430 | 0.2572 | -0.68% | ||
| 7 | SOL | 19.44 | 0.28 | 1.44% | 18.61 | 20.47 | 95.22% | ||
| 8 | TRX | 0.0839 | 0.0000 | 0.01% | 0.0829 | 0.0857 | 53.90% | ||
| 9 | LTC | 64.43 | -1.64 | -2.48% | 63.20 | 68.29 | -7.96% | ||
| 10 | SHIB | 0.00000733 | -0.00000015 | -2.00% | 0.00000716 | 0.00000759 | -9.35% |
* Rank is based on market cap of non-stablecoins.
Fascinating Stats
US National Debt
The US National Debt increased 111.3 billion (Wednesday, September 13th to Wednesday, September 20th), to a total debt of $33,070,803,843,484.64 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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| Apr | May | Jun | Jul | Aug | Sep |
Space Weather – Solar Sunspots
The number of solar Sunspots (magnetic storms on the surface of the sun facing Earth) has increased this week to 184 from 110 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 9 new exoplanets this week, the total has increased to 5,523 confirmed and catalogued Exoplanets across 4,250 confirmed Planetary Systems. 273 Exoplanets have been confirmed this year so far and there are 9,867 Exoplanet Candidates being evaluated for confirmation. Learn about all of the Exoplanets from NASA’s Exoplanet Catalog.