Futures Climb After JPMorgan Earnings
U.S. stock index futures were higher Friday, following better-than-expected earnings from JPMorgan Chase.
JPMorgan posted quarterly results that topped expectations as the financial giant began to put its "London Whale" trading losses behind.
Meanwhile, rival Wells Fargo slipped after the company reported quarterly earnings that were a penny better than estimates, but revenue was lighter than forecast .
On the economic front, producer prices rose 1.1 percent in September as the cost of energy surged, according to the Labor Department. Economists had expected a gain of 0.7 percent.
Consumer sentiment survey for October is due at 9.55 am ET. Analysts polled by Reuters expect the index to come in at 78, down from 78.3 in September.
AMD plunged after the chipmaker cut its third-quarter revenue guidance , citing weak product demand. Rival Intel also slipped to trade near a 52-week low.
Weak global demand has raised investor worry over the third-quarter earnings season. According to Thomson Reuters, earnings are expected to decline 3 percent from a year ago, the weakest since 2009.
European shares were lower as Spanish Prime Minister Mariano Rajoy continued to deny Spain needs a full bailout. Investor sentiment remains subdued on Europe after this week's gloomy economic forecasts for the continent from the International Monetary Fund.
Meanwhile, euro zone industrial production gained in August, beating expectations for a decline.
—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)
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