On a day when news broke that July was the hottest month ever, the market was hardly luke warm. We finished flat, with an inside bar, and volume on the S&P 500 was way below average.
This chart speaks for itself, wow...
On the earnings front the big news today surrounded Priceline (PCLN) which disappointed last night after the close and shed -17.3% in today's trading. Thanks to weak guidance, the stock fell under $600 a share and weighed down the rest of the travel booking group with it (EXPE -4.6%, TRIP -4.9%). Analysis included below.
Lastly, a must read piece on Elliott Management's current opinion of US and Europe, If You Own US Debt Sell It Now. Paul Singer's group manages just under $20 Billion and offers some interesting insights.
Keep hydrated and I will see you back here tomorrow.