Wall Street Today | Fed officials saw taper starting in mid-November

Asian stocks looked set to rise Thursday after longer term Treasury yields and the dollar fell as traders weighed Federal Reserve minutes affirming a looming reduction in stimulus amid inflationary pressures.

The Federal Reserve could begin reducing the pace of its monthly asset purchases as soon as mid-November, according to minutes from the September meeting. The summary, released Wednesday, indicated the tapering process could see a monthly reduction of $10 billion in Treasurys and $5 billion in mortgage-backed securities. Officials at the meeting expressed concern about inflation, saying it could last longer "than they currently assumed."

Cathie Wood is joining the slate of Wall Street players hoping U.S. regulators will soon greenlight an ETF tracking Bitcoin futures.

The ARK 21Shares Bitcoin Futures Strategy ETF, ticker ARKA, plans to invest in Bitcoin futures contracts that trade on commodity exchanges, according to a Wednesday filing with the Securities and Exchange Commission.

Shares cooled off Wednesday, falling 2.6% to $161. The stock had been up 30% this year, and hit fresh highs last week.

The money-management company posted a profit of $1.68 billion, or $10.89 a share, for the quarter ended September, up from $1.36 billion, or $8.87 a share, a year earlier. The company beat analysts’ profit expectations, and BlackRock’s stock price rallied 3.9% midday.

The plans further demonstrate Apple's ambition to add health and wellness features to devices beyond the Apple Watch, where most of the company's health functions exist today.