U.S. futures slide as Fed worries outweigh earnings - BNN Bloomberg

US stock-index futures fell as concerns over the Federal Reserve’s aggressive rate-hike path outweighed robust corporate earnings and China’s stimulus plans.

US stocks have rallied on signs of peaking inflation and an earnings-reporting season that saw four out of five companies meeting or beating estimates. Yet, continuing rate hikes and the likelihood of a recession in the world’s largest economy are weighing on sentiment. Meanwhile, concern is growing that Fed rate setters will remain focused on the fight against inflation rather than supporting growth.

Earlier on Wednesday, stocks rose in Asia amid speculation that China may deploy more stimulus to shore up its ailing economy. After a string of weak data driven by a property-sector slump and COVID curbs, China’s Premier Li Keqiang asked local officials from six key provinces that account for 40 per cent of the economy to bolster pro-growth measures.

The Stoxx 600 fell after a strong start amid signs the continent’s energy crisis is worsening. Benchmark natural-gas futures jumped as much as 5.1 per cent on expectations the hot weather will boost demand for cooling. In the UK, consumer-price growth jumped to 10.1 per cent, sending gilts tumbling.

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