Photo: Wikimedia Commons
Today was easily the most boring summer day in ages.But first, the scoreboard
S&P 500: -0.63
And now, the top stories:
- Really, nothing happened. Europe is in a holding pattern ahead of its big EU meeting tomorrow. There were some early reports about how the European Financial Stability Fund is likely to be expanded, and that helped the euro a bit. But really, nobody knows what’s going to happen. Click here for a guide to what’s likely to happen >
- In the US, there was no major economic data, unless you count another mediocre existing home sales report.
- On the debt talks, there was no movement of substance. It might be notable that the big loser of the day was the NASDAQ, despite blowout earnings from Apple, which rose about 3%. For some bonkers IPO action, check out Zillow, which priced at $20, opened at $60, before instantly falling to to $40, before ending in the high $30s. Weird. One notable thing that’s worth paying attention to: Once again stocks and Treasuries moved in unison, rather than opposed to each other.
- And that’s basically it! With any luck, we’ll have something interesting to report tomorrow.
- Click here for a guide to who really owns US debt >