US Stocks Dip After Bank Of England Stimulus

Sumaira FH Published August 04, 2016 | 09:37 PM

NEW YORK, (APP - UrduPoint / Pakistan Point News - 4th August, 2016) - Wall Street stocks dipped early Thursday as markets digested aggressive stimulus from the Bank of England ahead of the July US jobs report.

The BoE slashed interest rates to a record low 0.

25 percent and delivered a #170-billion ($227-billion, 200-billion-euro) stimulus package in the wake of the nation's June 23 vote to leave the European Union. British stocks rose 1.5 percent, while the pound declined. Jack Ablin, chief investment officer at BMO Private Bank, said US investors were in wait-and-see mode ahead of Friday's US jobs report.

The report will be the first major US economic news after second-quarter US growth figures disappointed.