U.S. stocks slide as Fed cuts stimulus measures

- Asian stocks have seemed to rocket following longer term Treasury yields and the dollar fell as traders weighed elevated U.S. inflation and Federal Reserve minutes affirming a looming reduction in stimulus.

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What the front line of the u.s. futures edged up in Japan and Australia after U.S. shares snapped a three-day losing streak with the tech-heavy Nasdaq 100 outperforming the S&P 500. Asian trading contracts continued to decline in early U.S. markets.

Longer maturity Treasuries rallied amid a strong auction of 30 years, the yield curve flattened and a gauge of the dollar retreated. Annual U.S. inflation held above 5% for a fourth month. The Fed Minutes signaled a tapering of bond buying beginning mid-November or mid-December.

Crude oil stabled above $80 a barrel. The Hong Kong stocks were closed for holiday Thursday. In China, expected inflation figures will provide another read on price pressures pushed by supply chain disruptions and a jump in energy prices.

Investors continue to assess the resilience of the recovery from the pandemic to the surge in inflation and the prospect of reduced central bank policy support. In the earnings season so far, executives in S&P 500 companies mentioned the phrase supply chain about 3,000 times on investor calls as of Tuesday - far higher than last year's then-record figure.

The big question is how companies could handle the myriad of inflationary pressures from an earnings perspective, Federated Hermes said in an email. Wage pressure, labor shortages, supply chain disruptions, higher input costs, surging energy prices amid a global energy crunch, as well as the likelihood of higher interest and tax expenses can be too much for firms to digest. The Biden administration is trying to solve supply-chain bottlenecks before Christmas shopping season, but officials recognize their options are limited.

Among U.S. earnings, JPMorgan Chase Co.'s dealmakers posted their best quarter yet though consumer and commercial loan growth remained challenged.

None of the three banks in the report earnings of Morgan Stanley and Citigroup Inc. on Thursday.

On Friday, retail sales were denied in U.S. business inventories, University of Michigan consumer sentiment, consumers sentiment, and University of Michigan economics - Facts.

For more market analysis, read MLIV blog.

Some of the main moves in markets:

None ETF 500 futures were little changed as of 7: 01 a.m. in Tokyo. The S&P 500 rose 0.3%.

None The Japanese yen was at 113.26 per dollar (s)

Which Currency traded Exchange in Hong Kong for The offshore yuan at 6,4287 rate per dollar?

None The yield on 10 - year Treasuries was decreased four basis points to 1.54% against CCCs.

In $1,793 gold the pound rose to $.793. 17" an ounce.

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