US stock futures rally as investors look past rising inflation and focus on earnings season

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US stock futures rally as investors look past rising inflation and focus on earnings season

US stock futures rose Thursday as earnings season picked up pace, even after inflation climbed and the Federal Reserve edged closer to cutting back its support for the economy. were up 0.65%, were 0.84% higher and rose 0.54%, after US stocks snapped a three-day losing streak on Wednesday. In Asia overnight, China's index slipped 0.54%, but Tokyo's climbed 1.46%. Europe's continent-wide rose 0.83% in early trading. US stocks ended in the green Wednesday despite falling early in the session as traders digested a key inflation report and minutes from the latest Fed meeting. Consumer price index inflation rose to and 5.4% year-on-year, a 13-year high. Persistent supply-chain disruption and an energy crunch have been pushing up prices around the world. The Fed showed the central bank could begin "tapering" its bond purchases in November or December, as it reacts to strong inflation and a solid economic recovery. Despite the growing chances of a taper, US bond yields were little changed and major stock markets closed higher. Analysts said investors had already positioned for strong inflation and an imminent Fed move. "There was barely a murmur from markets following the release of the latest [Fed] meeting minutes," said Mike Owens, global

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