Asian Stocks Set to Ignore Wall Street CPI-Led Dip: Markets Wrap

-- Equities in Asia were poised to gain, sidestepping losses on Wall Street following hotter-than-expected core inflation that heightened the focus on the Federal Reserve’s next move.Should Evictions Be Banned After Hurricanes and Climate Disasters?

Inflation data released Thursday underscored the challenge facing the Fed. Underlying US inflation rose more than forecast in September in a sign of stalling progress in the fight to bring inflation to target. Separate data showed applications for US unemployment benefits rose last week to the highest in over a year.

“One slightly hotter-than-expected CPI reading doesn’t mean a new wave of inflation has been unleashed, but the fact that it accompanied a jump in weekly jobless claims may add to short-term market uncertainty,” said Chris Larkin at E*Trade from Morgan Stanley. Investors are also gearing up for third-quarter US earnings later Friday from JPMorgan Chase & Co., Wells Fargo & Co and Bank of New York Mellon Corp.China may deploy as much as 2 trillion yuan in fresh fiscal stimulus as Beijing seeks to shore up the world’s No. 2 economy and boost confidence, investors and analysts said.

“Government agencies are now expected to feel the pulse of the market before publishing policies,” said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Plc. “They should avoid letting expectations climb and crash to deal a blow to market sentiment.”JPMorgan, Wells Fargo kick off earnings season for the big Wall Street banks, FridayFed’s Lorie Logan, Austan Goolsbee and Michelle Bowman speak, FridayThe euro was little changed at $1.

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