Market Lab Report - Premarket Pulse 8/4/16
Major averages rose on lower, below average volume. The Bank of England cut interest rates for the first time in 7 years. This is unsurprising due to Brexit uncertainties along with existing economic weakness from the purchasing managers indexes and from business and consumer confidence surveys.
UK and European markets rallied on the news. The central bank also said it will buy up £10 billion of corporate bonds and expand its quantitative-easing program by £60 billion to £435 billion.
Business enterprise software developer Atlassian (TEAM)had a pocket pivot off its 10-day moving average. Eanings are accelerating, ROE 21.3%, group rank 11. TEAM reports earnings today after the close.
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