U.S. Stocks Waver on Bank of England Rate Cut; Jobless Claims Rise

U.S. stocks fluctuated around the flatline on Thursday following the Bank of England's move to cut interest rates. The rate cut was in response to the landmark June 23 Brexit vote. The central bank also announced stimulus measures, including government and corporate bond purchases. Meanwhile, weekly jobless claims rose by 3,000 to 269,000, while economists expected claims to slip to 265,000. Investors now await Friday's jobs report from the Bureau of Labor Statistics. Meanwhile, Viacom (VIA) - Get Report shares slipped after quarterly profits fell 27 percent. Earnings of $1.05 a share beat estimates of $1.01. Revenue increased by 1.6 percent to $3.12 billion, ahead of the $3.01 billion analysts had expected. A rise in costs and sluggishness in its movie division weighted on the company's results. TheStreet's Scott Gamm reports from Wall Street.