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Futures are up a bit (SPY, SPX, DJI, IXIC, IWIM, SEAS, CHK, GBP, DXY, USD, TLT, TLO)

Published by Business Insider on Thu, 04 Aug 2016

US stock futures are a little higherahead of the opening bell on Thursday after the Bank of England's decision to cut interest rates.At 8:22 a.m. ET, Dow futures are up 39 points, S&P 500 futures are up 3 points, and Nasdaq futures are up 1 pointall by less than 0.2%.The indexes have traded and closed little changed for most of this week. The Dow closed green for the first time in eight sessions on Wednesday, breaking a losing streak that was preceded bysuccessive climbs to new highs.The Bank of England cut interest rates for the first time in seven years from 0.5% to 0.25%the lowest level ever. It also launcheda big new monetary easing programme, including the extension of its asset purchase facility from 375 billion to 435 billion.The bank had held rates unchangedin its first meeting after the UK's vote to leave the European Union, but Thursday's cut was widely expected.Amid concerns of a recession,the bank lowered ratesto stimulate economic growth and inflation by encouraging people to borrow and spend.The pound fell by as much as 1.19% to 1.3167 per dollar after the rate cut. And, the yield on the UK's 10-year gilt dropped as many as 11 basis points to a record low of 0.646%.US treasury yields also fell as bond prices rose. The 10-year yield is down 2 basis points to 1.518%.In earnings, Chesapeake reported a sixth straight quarterly loss which narrowed from a year earlier, and raised its production guidance for the year.SeaWorld said second-quarter attendance fell by nearly 500,000 guests due to a decline at its Florida parks and a shift in the timing of holidays this year.SEE ALSO:What's happening in FXJoin the conversation about this storyNOW WATCH: The hardest and easiest Pokmon to catch in 'Pokmon GO
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