Economic Indicators
The macro backdrop behind the market internals. Every indicator with full official-source history, SPY overlay, and a plain-English reading of the latest print.
US Economy Health Tracker
Twenty-two de-duplicated indicators across six equal-weight pillars, with inflation pressure and financial stress kept separate.
US Jobs Tracker
Thirteen release-aligned indicators across employment growth, demand, layoffs and worker utilization.
Quarterly revenue of the advertising and PR industry — a proxy for ad spend.
The Australian government 10-year bond yield — daily from the RBA since 2013 with OECD history to 1969.
Auto loan balances 90+ days late, the flow into delinquency by age, originations by credit score, the subprime share of new loans, balances, accounts, new-car loan rates and lending standards
How many people work in U.S. advertising and PR — monthly BLS payrolls since 1990, the industry's headcount cycle in one chart
The market value of all US public equities as a percent of GDP — an official quarterly reading plus a validated market-close estimate.
Permits issued for new homes — housing starts' one-to-two-month leading edge.
Monthly applications to start a new business — the entrepreneurship pulse.
The global crude oil benchmark in dollars per barrel — daily since 1987.
Headline US consumer inflation — index level and year-over-year rate since 1947.
The Michigan survey of household confidence — a contrarian gauge at extremes since 1952.
How many Americans stay on unemployment benefits — the labor market's leak detector.
The aggregate P/E of the whole US market — public equity value as a multiple of after-tax corporate profits since the 1950s.
US consumer inflation stripped of food and energy — the underlying trend.
The Fed's preferred inflation gauge — the exact number behind "2% inflation."
The OECD's standardized read on US consumer optimism — 100 is the long-run average.
The gold-standard gauge of US home prices — repeat-sales, national, with the appreciation rate.
North American freight shipment volumes — a real-time pulse on goods moving through the economy.
Cash, deposits & money-fund shares as a share of household financial assets — the retail "cash on the sidelines" gauge.
Total household borrowing outside mortgages — credit cards, auto, and student loans.
An 85-indicator composite of US economic activity — zero marks trend growth.
Total US after-tax corporate profits and how fast they're growing.
New orders for nondefense capital goods ex-aircraft — the business-investment pulse.
Bank lending to businesses — the credit-demand side of the corporate cycle.
How hard US industry is running its productive capacity — a margin & inflation pressure gauge.
Single-family and multifamily construction flows — what's starting vs what's finishing.
"Dr. Copper" — the industrial metal with a reputation for diagnosing the global economy.
The IMF's all-commodity index — energy, metals and food in one series.
The gross refining margin — what a barrel of crude earns once it is cooked into gasoline and diesel — daily since 2006.
The Government of Canada 10-year benchmark yield — daily from the Bank of Canada since 2001 with OECD history to 1955.
How much crude US refineries actually processed each week — millions of barrels per day since 1982.
What a credit card balance costs to carry: the average rate on card accounts assessed interest, quarterly since 1994.
Credit card balances 90+ days late in credit files and 30+ days late at banks, charge-offs, the flow into delinquency by age, balances, limits and utilization, card rates and lending standards
New factory orders for goods built to last — a forward read on business investment.
The trade-weighted value of the US dollar — a master variable for global risk and earnings.
US federal debt held by the public as a share of GDP — the WWII-to-now fiscal arc.
Diesel and heating oil in US storage — weekly, in millions of barrels since 1982.
How much diesel and heating oil the US burns — weekly, in millions of barrels per day since 1991.
How much diesel the US ships abroad each week — millions of barrels per day since 2010.
How many days the tanks would last at current demand — weekly since 1991.
PJM and ERCOT trailing-12-month demand growth vs the rest of the grid — a falsifiable proxy, explicitly not a data-center meter
The pace of resale home closings — the broadest barometer of housing demand.
Stocks as a share of household financial assets — a long-horizon valuation and sentiment extreme gauge.
Where the oil shock sits, from crude to the pump: the crude, margin and retail split of fuel prices, inventories, exports and the grid
The Fed's policy rate — the lever behind every other interest rate in the economy.
A single number for how tight or loose US financial conditions are right now.
A real-time stress gauge built from 18 market series — zero is normal.
The government's read on for-hire freight output — trucking, rail, water, air, and pipeline combined.
The Federal Reserve's total assets — the scale of QE, QT, and the liquidity backdrop.
The 10-year French government bond (OAT) yield — OECD monthly since 1960.
What is generating America's electricity today — gas, nuclear, coal, wind, solar and hydro shares, with renewable-share records
How far the grid's own day-ahead demand forecast missed reality — daily miss, over/under-forecast bias and seasonal norms since 2015
The broadest measure of US economic output — quarterly real growth at an annualized rate.
What Americans pay at the pump — the weekly national average, in dollars per gallon since 1990.
Total gasoline in US storage — weekly, in millions of barrels since 1990.
How much gasoline Americans burn — weekly, in millions of barrels per day since 1991.
The 10-year Bund yield — the euro area's benchmark rate, daily from the Bundesbank since 1997 with OECD history to 1956.
A transparent 0–100 reading from seasonal demand pressure, peak headroom and the natural-gas storage buffer — with full history
Daily U.S. electricity demand vs its own history — today's load, seasonal context, and record days, from EIA hourly data
New residential construction breaking ground — one of the economy's earliest cyclical movers.
New Class 8 truck sales — a cyclical recession bellwether that leads the business cycle.
The typical US home value in dollars — Zillow's smoothed, seasonally adjusted mid-tier index.
What American homeowners own vs owe — Z.1 housing wealth, equity, and mortgage debt.
How many homes are actually listed for sale across the US — Zillow's active-inventory count.
The share of nonfarm employment hired each month — realized labor demand, not merely posted openings.
Home equity line balances 90+ days late, the flow into delinquency, balances, open lines, credit limits and utilization, and home equity lines on bank books
Real output of US factories, mines, and utilities — a cyclical read that often leads GDP.
Factory output alone — the manufacturing core of industrial production, stripped of mining and utilities.
How many months of sales US businesses hold in inventory — a clean recession early-warning.
What markets and models expect for inflation, short end to long — and when they diverge.
The 10-year Italian government bond (BTP) yield — OECD monthly since 1991.
The producer price index for internet advertising — the closest thing to a public CPM series — plus ad prices by medium back to 1980
Weekly new filings for unemployment benefits — the labor market's real-time tripwire.
Unfilled positions employers are actively recruiting for — the cleanest read on labor demand.
The 10-year Japanese government bond (JGB) yield — daily from the Ministry of Finance since 1986.
Monthly involuntary separations from JOLTS — an early read on corporate distress.
Workers jobless for six months or more — the labor market's most entrenched slack.
The OECD composite leading indicator — designed to flag business-cycle turning points months ahead.
The net share of banks tightening business loans — one of the most reliable recession leads.
US lumber prices back to 1947 — the housing input that went vertical in 2021.
Employer-initiated separations as a share of employment — the normalized monthly layoff gauge.
The rate behind most US home purchases — the housing market's main throttle.
The stock of spendable money in the US economy — and how fast it's growing.
Total assets in US money market funds — the cash-on-the-sidelines and flight-to-safety gauge.
How much investors have borrowed against their portfolios — leverage that amplifies both rallies and unwinds.
How many months it would take to sell the new-home inventory at the current sales pace.
The middle American household's annual income — the denominator of every affordability argument.
Mortgage balances 90+ days late in credit files and 30+ days late at banks, charge-offs, transition rates, foreclosures, originations by credit score and age, balances and the 30-year rate
Contracts signed on newly built homes — a forward-looking pulse on construction demand.
Business spending on equipment and intellectual property after depreciation, as a share of GDP, annual since 1929.
The median sales price of new US houses sold — dollar prices back to 1963.
The US natural gas benchmark in dollars per million BTU — daily spot since 1997.
Weekly working gas in storage vs the 5-year average and range — the sector's scheduled Thursday market event, in plain English
The Fed's family of inflation gauges — broader coverage than CPI, usually a touch cooler.
Inflation at the wholesale level — what producers receive before goods reach you.
How uncertain the policy environment is, read from news, tax law, and forecaster spread.
The monthly change in US jobs — the most market-moving release on the calendar.
The share of working-age Americans in the workforce — context the jobless rate can't give you.
Total income Americans receive from all sources — the fuel behind consumer spending.
Adjusted after-tax profits as a share of nonfinancial corporate value added.
Output per hour in the nonfarm business sector — the engine of non-inflationary growth.
The share of private industries adding jobs — whether headline payroll growth is broad or narrowly concentrated.
The employed share of Americans age 25–54 — a cleaner cyclical utilization gauge than headline participation.
Quarterly advertising revenue for Google, Meta, Amazon, YouTube, Snap, Reddit and Pinterest — straight from SEC filings, with market-share trends
US home prices adjusted for CPI inflation — the long-run housing-valuation gauge, with the 2006 and 2022 peaks in plain view.
Total receipts at US retail and food-service establishments — the pulse of consumer spending.
The early, food-services-excluded estimate of monthly retail spending — first read of the cycle.
Retail spending adjusted for inflation — the true volume of what consumers buy.
The official 0/1 flag for whether the US economy is in an NBER-dated recession.
A model-based 0-100% estimate of whether the US economy is currently in recession.
Cash held by individual investors in money funds — a weekly read on retail risk appetite.
The 10-year Treasury yield after expected inflation: the return gold, stocks and every long asset compete with.
Inflation-adjusted consumer outlays — the ~70% of GDP that drives the economy.
What the bond market prices the Fed to do next — the 2-year yield minus the funds rate.
How many months the resale inventory would last at the current sales pace.
How hard American refineries are running — weekly percent of operable capacity since 1990.
What truckers pay at the pump — the weekly national average, in dollars per gallon since 1994.
Operable crude distillation capacity — how much oil US refineries could process, weekly since 1990.
Credit card and other revolving balances owed by US households, monthly since 1977.
Stocks priced in money supply — is the market expensive relative to the liquidity behind it?
Money-fund and bank-deposit balances relative to the value of the US stock market — the "cash on the sidelines" gauge, near record lows.
The S&P 500 priced against ten years of real earnings — Robert Shiller's cyclically adjusted P/E, monthly since 1881.
A real-time recession signal that trips when unemployment starts climbing fast.
The share of disposable income households save — the consumer's shock absorber.
The 10-year Spanish government bond yield — OECD monthly since 1980.
The 10-year Swiss Confederation bond yield — OECD monthly since 1955.
Student loan balances 90+ days late since the end of the payment pause, the flow into delinquency by age, balances in credit files and the federal government’s student loan holdings
Net US exports minus imports — the deficit that subtracts from GDP and pressures the dollar.
The share of US household net worth held by the wealthiest 1% — a concentration gauge.
The US Treasury curve — 3-month, 2-, 10-, and 30-year yields, daily since 1962.
Business spending on computers, communication gear and software as a share of GDP, the official quarterly read on the AI build-out.
Existing plus new home sales — the combined annualized pace of US home transactions.
The monthly principal & interest a buyer of the typical US home signs up for at current rates.
Staffing-industry payrolls — a flexible, early-moving slice of employer labor demand.
The U-3 jobless rate — the headline read on US labor-market slack since 1948.
Labor cost per unit of output — the wage-driven pressure on corporate margins and inflation.
The total pipeline of US housing units currently being built.
The number of actively job-seeking Americans — the denominator behind labor-market tightness.
Unemployment plus marginal attachment and involuntary part-time work — the broadest official slack rate.
The 10-year gilt yield — daily from the Bank of England since 1982 with OECD history to 1960.
How much the US government owes today, to the dollar — held by the public vs intragovernmental, the pace of borrowing, what the interest costs against tax receipts, and every debt-limit stretch since 1993
What the government takes in and from whom, what it spends and on what, how much of each dollar is borrowed, its audited balance sheet, and the arithmetic of the next ten years if nothing changes
Private-sector hourly pay and its year-over-year growth — the wage half of the jobs report.
The US crude oil benchmark in dollars per barrel — daily since 1986.
Hours paid per private-sector worker — the labor adjustment employers can make before cutting jobs.
The New York Harbor spot price of conventional gasoline — the wholesale leg of the crack spread, daily since 1986.
The New York Harbor spot price of ultra-low-sulfur diesel — the distillate leg of the crack spread, daily since 2006.
Energy & Grid
Follow energy costs from oil and refining to fuel inventories, demand and the electricity grid — dated EIA readings with full histories.