Brief
This report covers the 36th week of the year spanning Friday, September 1st, through Friday, September 8th, 2023. The week in numbers provides key statistics and data, economic reports, market performance and fun science stats for the week.
View the header image in full screen
Highlights
- The National Debt has increased 1.44 Trillion since the National Debt ceiling was suspended on June 1st, 2023
- Solana (SOL) remains the best performing major crypto YTD up 96.9% but that’s down from being up as high as 168% YTD
- NASA confirms and catalogs 12 new exoplanets this week
Market summary
All major US Indexes were down this week with the market posting an average loss of 1.43%. The Industrials Sector posted the largest loss, down 2.92% followed closely by the Materials Sector, down 2.45%. The Energy and Utilities Sectors were the only sectors that managed to post a gain for the week, up 1.39% and 0.86% respectively. Global stock markets were also down to flat with only India and the United Kingdom posting small gains for the week.
The yield curve is continuing to flatten as longer term rates continue to rise likely due to economic reports this week that signal the Fed will leave interest rates higher longer than expected. This week’s Initial jobless claims (a leading indicator of the employment situation) were reasonably under expectations 216k versus 233k and the lowest level since February. Additionally the ISM-Nonmanufacturing Report which indicates the strength of the services sector came in at 54.5% better than the expected 52.4% indicating a strong services sector.
Economic Reports
Monday, September 4th
- US Markets closed for the observance of Labor Day
Tuesday, September 5th
- No notable economic reports
Wednesday, September 6th
- ISM Non-Manufacturing Index for August was 54.5%, more than the expected 52.4% and more than last month’s 52.7%
Thursday, September 7th
- Initial Jobless Claims for last week decreased by 13,000 to 216,000 new claims, less than the expected 233,000
- Continuing Jobless Claims decreased by 40,000 to 1.68 million
- Productivity-Revised for Q2 increased 3.5%, less than the expected increase of 3.7% and less than last quarter’s increase of 3.7%
- Unit Labor Costs-Revised for Q2 increased 2.2%, more than the expected increase of 1.6% and more than last quarter’s increase of 1.6%
Friday, September 8th
- Consumer Credit for July increased $10.4B, less than the expected increase of $15.8B and less than last month’s increase of $14.0B
Next Week’s Major Reports
- CPI – Wednesday, September 13th
- PPI – Thursday, September 14th
- Retail Sales – Thursday, September 14th
- Univ. of Michigan Consumer Sentiment Preliminary – Friday, September 15th
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 | 34,576.59 | -261.12 | -0.75% | 34,291.56 | 34,871.26 | 4.31% | ||
| Nasdaq | 13,761.53 | -270.28 | -1.93% | 13,642.47 | 14,060.85 | 31.48% | ||
| S&P 500 | 4,457.49 | -58.28 | -1.29% | 4,430.46 | 4,514.29 | 16.10% | ||
| Wilshire 5000 | 44,091.63 | -637.58 | -1.43% | 44,038.93 | 44,483.64 | 15.81% |
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Communication Services | 228.39 | -0.09 | -0.04% | 227.34 | 228.58 | 43.31% | ||
| Consumer Discretionary | 1,330.46 | -7.06 | -0.53% | 1,323.38 | 1,336.36 | 32.32% | ||
| Consumer Staples | 753.62 | -4.03 | -0.53% | 749.91 | 753.62 | -3.27% | ||
| Energy | 700.97 | 9.58 | 1.39% | 694.25 | 700.97 | 4.26% | ||
| Financials | 569.00 | -6.27 | -1.09% | 567.66 | 569.76 | -0.13% | ||
| Health Care | 1,535.49 | -17.46 | -1.12% | 1,528.93 | 1,538.28 | -3.16% | ||
| Industrials | 890.79 | -26.79 | -2.92% | 890.79 | 902.08 | 7.14% | ||
| Information Technology | 3,054.92 | -73.29 | -2.34% | 3,048.62 | 3,140.43 | 40.64% | ||
| Materials | 513.26 | -12.87 | -2.45% | 512.62 | 516.63 | 4.84% | ||
| Real Estate | 229.25 | -2.55 | -1.10% | 229.07 | 230.70 | -1.34% | ||
| Utilities | 318.83 | 2.73 | 0.86% | 311.22 | 318.83 | -11.06% |
Global Stocks
| Index | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| UK FTSE 100 | 7,478.19 | 13.65 | 0.18% | 7,369.64 | 7,523.40 | 0.35% | ||
| France CAC 40 | 7,240.77 | -56.00 | -0.77% | 7,136.56 | 7,358.89 | 11.85% | ||
| Spain IBEX 35 | 9,364.60 | -85.00 | -0.90% | 9,238.50 | 9,515.00 | 13.80% | ||
| Germany DAX 40 | 15,744.75 | -95.59 | -0.60% | 15,577.04 | 15,958.74 | 13.08% | ||
| India BSE Sensex | 66,598.91 | 1,211.75 | 1.85% | 65,285.56 | 66,766.92 | 9.46% | ||
| China Shanghai Comp | 3,116.72 | -16.53 | -0.53% | 3,104.67 | 3,177.06 | 0.89% | ||
| HK Hang Seng 50 | 18,202.07 | -179.99 | -0.98% | 18,173.44 | 18,899.49 | -7.98% | ||
| Japan Nikkei 225 | 32,606.84 | -103.78 | -0.32% | 32,512.80 | 33,322.45 | 24.96% | ||
| Australia ASX 200 | 7,156.70 | -121.60 | -1.67% | 7,134.80 | 7,340.90 | 1.68% |
Currencies
| Currency | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| CAD Canadian Dollar | 1.3641 | 0.0047 | 0.35% | 1.3571 | 1.3697 | 0.64% | ||
| MXN Mexican Peso | 17.5936 | 0.5038 | 2.95% | 17.0449 | 17.7082 | -9.72% | ||
| COP Colombian Peso | 4,019.50 | -56.48 | -1.39% | 3,989.72 | 4,107.82 | -17.10% | ||
| BRL Brazilian Real | 4.9866 | 0.0386 | 0.78% | 4.9072 | 4.9950 | -5.64% | ||
| GBP British Pound Sterling | 0.8021 | 0.0079 | 0.99% | 0.7909 | 0.8036 | -2.96% | ||
| EUR Euro | 0.9344 | 0.0065 | 0.70% | 0.9249 | 0.9358 | 0.00% | ||
| CHF Swiss Franc | 0.8931 | 0.0072 | 0.81% | 0.8832 | 0.8961 | -3.46% | ||
| CZK Czech Koruna | 22.7977 | 0.4481 | 2.00% | 22.2950 | 22.8641 | 1.02% | ||
| NOK Norwegian Krone | 10.6874 | 0.0208 | 0.20% | 10.6172 | 10.7648 | 8.95% | ||
| SEK Swedish Krona | 11.1253 | 0.0791 | 0.72% | 10.9640 | 11.1681 | 6.59% | ||
| RUB Russian Ruble | 97.93 | 1.52 | 1.58% | 95.72 | 98.78 | 32.79% | ||
| SAR Saudi Riyal | 3.7509 | -0.0001 | 0.00% | 3.7500 | 3.7555 | -0.19% | ||
| AED UAE Dirham | 3.6730 | -0.0001 | 0.00% | 3.6727 | 3.6732 | 0.01% | ||
| INR Indian Rupee | 83.05 | 0.33 | 0.40% | 82.14 | 83.37 | 0.36% | ||
| THB Thai Baht | 35.67 | 0.46 | 1.31% | 34.93 | 35.72 | 3.03% | ||
| SGD Singapore Dollar | 1.3654 | 0.0126 | 0.93% | 1.3523 | 1.3665 | 1.83% | ||
| MYR Malaysian Ringgit | 4.6765 | 0.0290 | 0.62% | 4.6445 | 4.6815 | 6.16% | ||
| CNH Chinese Yuan | 7.3650 | 0.0953 | 1.31% | 7.2548 | 7.3683 | 6.41% | ||
| HKD Hong Kong Dollar | 7.8401 | -0.0046 | -0.06% | 7.8313 | 7.8467 | 0.43% | ||
| KRW South Korean Won | 1,336.37 | 17.92 | 1.36% | 1,315.62 | 1,338.86 | 5.90% | ||
| JPY Japanese Yen | 147.82 | 1.57 | 1.07% | 146.02 | 147.88 | 12.74% | ||
| AUD Australian Dollar | 1.5676 | 0.0174 | 1.12% | 1.5427 | 1.5731 | 6.99% | ||
| NZD New Zealand Dollar | 1.6998 | 0.0180 | 1.07% | 1.6776 | 1.7068 | 7.94% |
* Rates are quoted as the amount of local currency to buy 1 US Dollar.
Commodities
- Average US Regular Gas Price – decreased 0.6 cents or -0.16% this week to $3.807 a gallon. See more about US Regular Gas Prices.
- EIA Crude Oil Inventories – decreased by 6.31M barrels last week compared to prior week decrease of 10.58M
- EIA Natural Gas Inventories – increased 33 bcf last week compared to prior week increase of 32 bcf (billion cubic feet)
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Gold | 1,942.70 | -24.40 | -1.24% | 1,940.00 | 1,964.70 | 6.38% | ||
| Silver | 23.17 | -1.39 | -5.65% | 23.13 | 24.37 | -3.60% | ||
| Platinum | 894.80 | -73.90 | -7.63% | 893.30 | 960.80 | -17.37% | ||
| Palladium | 1,192.30 | -35.10 | -2.86% | 1,180.50 | 1,233.00 | -33.69% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Crude Oil | 87.51 | 1.96 | 2.29% | 85.02 | 88.08 | 9.03% | ||
| Natural Gas | 2.6050 | -0.1600 | -5.79% | 2.5000 | 2.6670 | -36.53% | ||
| Gasoline | 2.6537 | 0.0625 | 2.41% | 2.5570 | 2.7049 | 7.08% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Lumber | 496.50 | -7.00 | -1.39% | 496.00 | 510.00 | 32.86% | ||
| Steel (HRC) | 720.00 | 0.00 | 0.00% | 709.00 | 730.00 | -3.23% | ||
| Copper | 3.7165 | -0.1355 | -3.52% | 3.7115 | 3.8570 | -2.47% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Corn | 4.8375 | 0.0225 | 0.47% | 4.7850 | 4.9025 | -28.70% | ||
| Wheat | 5.9575 | 0.0025 | 0.04% | 5.9050 | 6.1550 | -24.78% | ||
| Soybeans | 13.6300 | -0.0625 | -0.46% | 13.5250 | 13.8475 | -10.56% | ||
| Coffee | 1.4865 | -0.0325 | -2.14% | 1.4805 | 1.5500 | -11.15% | ||
| Sugar | 0.2631 | 0.0050 | 1.94% | 0.2566 | 0.2710 | 31.29% | ||
| Cocoa | 3,654.00 | 49.00 | 1.36% | 3,572.00 | 3,697.00 | 40.54% | ||
| Cotton | 0.8591 | -0.0404 | -4.49% | 0.8516 | 0.8924 | 3.05% |
| Commodity | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|
| Cattle | 1.8323 | 0.0307 | 1.71% | 1.7950 | 1.8453 | 16.04% | ||
| Lean Hogs | 0.8153 | -0.0153 | -1.84% | 0.8095 | 0.8473 | -7.04% | ||
| Feeder Cattle | 2.5915 | 0.0450 | 1.77% | 2.5285 | 2.5965 | 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 – decreased this week to 7.12% from 7.18% last week. Learn more about 30 year mortgage rates.
- MBA Mortgage Applications Index – decreased by 2.9% this week compared to the prior week increase of 2.3%
| Maturity | Week Close | Week Change | Low | Week Range | High | |
|---|---|---|---|---|---|---|
| US 1 Month | 5.383% | -0.012% | 5.296% | 5.412% | ||
| US 3 Month | 5.464% | 0.024% | 5.404% | 5.522% | ||
| US 1 Year | 5.412% | 0.033% | 5.362% | 5.477% | ||
| US 5 Year | 4.408% | 0.107% | 4.301% | 4.458% | ||
| US 10 Year | 4.271% | 0.085% | 4.186% | 4.318% | ||
| US 30 Year | 4.340% | 0.043% | 4.297% | 4.392% |
Cryptocurrencies
- Total Crypto Market Cap – increased 0.28% or 2.96B this week to 1,043B
| Rank* | Crypto | Week Close | Week Change | Change % | Low | Week Range | High | YTD Performance | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BTC | 25,910.51 | 93.94 | 0.36% | 25,491.64 | 26,404.77 | 56.58% | ||
| 2 | ETH | 1,639.26 | 7.00 | 0.43% | 1,616.44 | 1,660.37 | 36.97% | ||
| 3 | BNB | 214.64 | 0.92 | 0.43% | 212.79 | 218.13 | -12.87% | ||
| 4 | XRP | 0.5061 | 0.0071 | 1.43% | 0.4956 | 0.5131 | 48.89% | ||
| 5 | DOGE | 0.0636 | -0.0002 | -0.30% | 0.0623 | 0.0645 | -9.45% | ||
| 6 | ADA | 0.2540 | -0.0015 | -0.60% | 0.2527 | 0.2595 | 3.03% | ||
| 7 | SOL | 19.61 | 0.25 | 1.31% | 19.08 | 20.56 | 96.90% | ||
| 8 | TRX | 0.0793 | 0.0032 | 4.27% | 0.0759 | 0.0804 | 45.44% | ||
| 9 | LTC | 62.74 | -0.36 | -0.57% | 62.17 | 64.99 | -10.37% | ||
| 10 | SHIB | 0.00000761 | -0.00000030 | -3.79% | 0.00000746 | 0.00000795 | -5.87% |
* Rank is based on market cap of non-stablecoins.
Fascinating Stats
US National Debt
The US National Debt increased 48.7 billion (Wednesday August 30th to Wednesday September 6th), to a total debt of $32,903,153,698,686.77 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.
|
6.6
|
867.8
|
276.3
|
305.6
|
||
|
-0.6
|
-11.0
|
||||
| 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 135 from 77 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 12 new exoplanets this week, the total has increased to 5,514 confirmed and catalogued Exoplanets across 4,245 confirmed Planetary Systems. 273 Exoplanets have been confirmed this year so far and there are 9,820 Exoplanet Candidates being evaluated for confirmation. Learn about all of the Exoplanets from NASA’s Exoplanet Catalog.