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(Bloomberg) — Stocks edged lower before the Bank of England’s rate decision and data on US initial jobless claims. Treasuries slipped following a weak US bond sale.

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Europe’s Stoxx 600 was little changed after a four-day run of gains, while futures on the S&P 500 pointed to declines at the Wall Street open. Ten-year Treasuries ticked lower for a second day after a $42 billion sale of 10-year notes received tepid demand. Government debt in Australia, New Zealand and Japan also fell.

The recent stock bounce is fading as the earnings season winds down and investors await fresh data for pointers on the timing of a potential move to lower interest rates. While BOE policy makers are forecast to keep rates on hold at their meeting Thursday, traders will be watching for signs of a dovish tilt in the voting.

US-listed shares in Arm Holdings Plc fell as much as 10% in late trading following a tepid annual forecast. Intel Corp. shares also dropped after the US revoked licenses that allowed the firm to sell chips to Huawei Technologies Co. Airbnb Inc. shares fell in post-market trade following signs of slowing growth.

Inflation figures due next week will offer fresh insights about the US economy after recent employment data showed the labor market is cooling. Fed Bank of Boston President Susan Collins signaled Wednesday that interest rates will likely need to be held at a two-decade high for longer than previously thought to damp demand and reduce price pressures.

In currencies, an index of dollar strength was little changed after three sessions of gains. The yen was 0.2% weaker against the greenback and was near a weekly low.

A key gauge of Chinese shares listed in Hong Kong rose as much as 1.7%, as hopes grew that a recovery of the world’s No. 2 economy is gathering momentum after data showed both exports and imports beat forecasts in April.

In commodities, West Texas Intermediate extended gains after rising by the most in almost two weeks Wednesday. The Biden administration raised the price it’s willing to pay to refill the country’s emergency oil reserves, which have dwindled near the lowest in four decades. Gold also rose.

Key events this week:

  • UK BOE rate decision, Thursday

  • US initial jobless claims, Thursday

  • UK industrial production, GDP, Friday

  • ECB publishes account of April policy meeting, Friday

  • BOE Chief Economist Huw Pill speaks, Friday

  • US University of Michigan consumer sentiment, Friday

  • Chicago Fed President Austan Goolsbee speaks, Friday

Some of the main moves in markets:

Stocks

  • The Stoxx Europe 600 was little changed as of 8:12 a.m. London time

  • S&P 500 futures fell 0.1%

  • Nasdaq 100 futures fell 0.2%

  • Futures on the Dow Jones Industrial Average fell 0.1%

  • The MSCI Asia Pacific Index fell 0.1%

  • The MSCI Emerging Markets Index was little changed

Currencies

  • The Bloomberg Dollar Spot Index was little changed

  • The euro was little changed at $1.0739

  • The Japanese yen fell 0.1% to 155.75 per dollar

  • The offshore yuan was little changed at 7.2292 per dollar

  • The British pound fell 0.1% to $1.2484

Cryptocurrencies

  • Bitcoin fell 0.1% to $61,499.68

  • Ether rose 1.5% to $2,993.93

Bonds

  • The yield on 10-year Treasuries was little changed at 4.50%

  • Germany’s 10-year yield advanced two basis points to 2.48%

  • Britain’s 10-year yield advanced one basis point to 4.15%

Commodities

  • Brent crude rose 0.3% to $83.81 a barrel

  • Spot gold rose 0.2% to $2,314.10 an ounce

This story was produced with the assistance of Bloomberg Automation.

—With assistance from Richard Henderson.

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