Investing.com – Here are the top five things you need to know in financial markets on Thursday, August 3:
1. Bank of England policy announcement
The Bank of England will announce its at 1100GMT (7:00AM ET). The central bank will also publish its at the same time.
BOE Governor will hold a press conference shortly after the announcement.
Sluggish economic data since the U.K. central bank’s June meeting combined with deep uncertainty about the impact of Brexit appears to suggest that the BOE is likely to hold rates at current record low levels.
The rose to an of 1.3266 against the dollar. It was last at 1.3255, up around 0.2% on the day.
2. Eyes on U.S. non-manufacturing data
Investors looked ahead to a key batch of U.S. economic data to gauge how it will impact the Federal Reserve’s view on monetary policy.
Today’s data includes at 8:30AM ET (1230GMT), followed by the at 10AM ET (1400GMT). are also released at 10AM.
The U.S. report for July is due out on Friday.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 92.80 in early trade after touching a 15-month low of 92.39 in the prior session.
3. Last major wave of U.S. earnings
Dozens of companies are expected to release earnings today in one of the last big waves of the earnings season.
Ahead of the opening bell, results are due from Aetna (NYSE:), Yum Brands (NYSE:), Kellogg (NYSE:), Hyatt Hotels (NYSE:), Teva (NYSE:), Allergan (NYSE:), Clorox (NYSE:), Sotheby’s (NYSE:), Grubhub (NYSE:), and Chesapeake Energy (NYSE:).
Kraft Heinz (NASDAQ:), Viacom (NASDAQ:), Activision Blizzard (NASDAQ:), Universal Display (NASDAQ:), GoPro (NASDAQ:), Weight Watchers (NYSE:) and Shake Shack (NYSE:) report after the close.
Tesla (NASDAQ:)’s earnings will also be in focus, after the electric carmaker reported late on Wednesday, sending its shares almost 7% higher in pre-market trade.
4. Global stocks mostly lower
Global stock markets were broadly lower, as investors locked in recent gains from a recent rally which was supported by better-than-expected corporate results and signs that the global economy is chugging along.
Asian shares ended , led by falls in South Korean tech shares.
In Europe, shares as energy and banking stocks dragged broader indices.
Meanwhile, U.S. stock futures pointed to a lower open on Wall Street, with the blue-chip indicating a loss of 22 points, or around 0.1%, to 21,937. It broke the 22,000 barrier for the first time in its 121-year history on Wednesday.
Meanwhile, the ticked down 5 points, or about 0.2%, while the tech-heavy fell 9 points, or roughly 0.2%.
5. Oil rises as investors stay bullish on U.S. data
Oil prices as investors viewed weekly U.S. inventory data on crude and refined products as bullish.
The Energy Information Administration on Wednesday reported a in U.S. crude supplies last week, below analysts’ expectations.
However, gasoline inventories fell by a more-than-expected while demand hit a record above 9.8 million barrels a day, the EIA said.
was last at $49.74 a barrel, up 17 cents, while tacked on 22 cents to $52.58 a barrel.