By Carolyn Cohn
LONDON, Oct 13 (Reuters) – US equity futures rose and European stocks reversed initial losses on Wednesday on positive corporate earnings reports, although markets were nervous ahead of the US CPI data to be released on the day. and crude fell from recent highs.
* Concern about accelerating inflation is affecting optimism about the global recovery from the COVID-19 pandemic.
* The US Consumer Price Index for September is expected to show a monthly advance of 0.3%, according to a Reuters poll. Minutes from the Federal Reserve’s September policy meeting will also be released later in the day.
* “Markets are at a crossroads,” said HYCM’s Giles Coghlan. “Are we in a stagflation environment? Will we see low growth but high inflation? That is the concern.”
* S&P futures were up 0.17% after the S&P 500 dropped 0.24% overnight, after JPMorgan reported a rise in its third-quarter earnings that beat estimates in the unofficial start of the season. corporate earnings season.
* European stocks abandoned initial losses and improved 0.5%, helped by a positive earnings forecast from German software group SAP and robust quarterly sales from French luxury goods maker LVMH.
* The MSCI World Stock Index was stable after falling in the previous three sessions.
* Crude prices fell about 1% on inflation concerns, although rising prices for fuels to generate power such as coal and natural gas limited losses.
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