UK STIMULUS: The Bank of England cut its key rate to 0.25 percent from a previous record low of 0.5 percent to help the economy, which has seen business activity slump since the June 23 vote to leave the EU. Broadbent said he was closely watching the labor market to gauge the hit to demand in Britain's economy from June's vote to leave the European Union, and highlighted a survey released overnight that showed the biggest fall in jobs since 2009.
The National Transportation Safety Board has issued some preliminary findings related to the first fatal crash involving a motorist driving a Tesla Model S using the autopilot feature. Tesla's second Master Plan will be mostly funded by sales of its vehicles, particularly the new electric vehicle Model 3, chief executive Elon Musk said during a soft launch of the enormous "Gigafactory" in Nevada on Tuesday.
The brisk pace of hiring represents a turnaround from weak job growth in the first half of this year, including disappointing job gains in April and May. JOBS RELIEF: The strong jobs report follows an even larger gain in June. "Perhaps this is a reflection of higher wages, encouraging people to enter the workforce", Bank of America Merrill Lynch economist Michelle Meyer wrote to clients on Friday .
The Obama administration has denied the money paid to Iran on the same day the Americans were released was a ransom paid for their release as Republicans have charged, and that the timing of the two actions were coincidental. Surely a concoction, and one that recalls his unsupported contention early in the campaign that he saw video of Muslims in New Jersey celebrating the 9/11 attacks.
Futures were little changed in NY after dropping below $40 on Monday for the first time since April. That price also represents a tumble of more than 20 percent from its recent peak above US$50 a barrel in June. Standard Chartered bank said there was "no fundamental justification for recent oil price falls" and that "the global oil market has rebalanced, and US crude supply and inventories are expected to fall".
The Cushing draw aside, short-covering by those buying oil contracts to close out profitable bearish bets helped prices rebound, traders said. Oil edged higher in Asia Wednesday after industry data showed a decline in USA crude inventories, but prices stayed below $40 a barrel amid ongoing concerns over a supply glut.