U.S. stocks climbed Thursday after the Bank of England hinted that it would launch fresh stimulus next month and as stronger-than-expected earnings lifted bank shares. The Dow Jones Industrial Average and the S&P 500 were trading near record intraday highs and were on pace for a fifth-consecutive session of gains. Both indexes are now up roughly 6% for the year. The Nasdaq Composite was also trading higher. The Bank of England's rate-setting committee voted Thursday to keep its benchmark lending rate steady at 0.5%. Global stocks briefly pared gains after the announcement. But the BOE also said most of its members expect a loosening of policy in August – a reassuring sign to investors who have been pinning their hopes on further central bank stimulus in recent weeks.
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