Oil prices rose for the second day in a row, something that had not happened for almost three weeks. While the Bank of England’s moves sent European stocks higher, investors on Wall Street moved carefully, waiting for Friday’s jobs report. Bank stocks fell the most, as the interest rate cut suggested that they would not be able to make as much money on lending. Bond prices rose and the yield on the 10-year Treasury note fell to 1.50 percent from 1.55 percent. Britain’s central bank hadn’t cut interest rates since the financial crisis.

Source: New York Times August 04, 2016 14:04 UTC