Markets higher, Fed could begin tapering in November

Markets were mostly higher on Wednesday.

The S&P 500 rose 0.3 percent and the STOXX Europe 600 rose 0.7 percent.

Earlier in Asia, the Shanghai Composite rose 0.4 percent but the Nikkei 225 fell 0.3 percent.

A report in the US showed that the consumer price index rose 0.4 percent in September and 5.4 percent year over year.

Minutes from the Federal Open Market Committee’s September meeting released on Wednesday showed that the central bank could begin tapering its asset-purchase programme as soon as mid-November.

“Much of these inflationary pressures are transitory, but that doesn’t stop them from having a dampening impact on activity,” said Seema Shah, chief strategist at Principal Global Investors.