* Futures up: Dow 24 pts, S&P 3.7 pts, Nasdaq 3.5 pts
* JP Morgan climbs after earnings
* PPI, consumer sentiment data on tap
* AMD drops after revenue warning
(Adds comment, updates prices)
By Chuck Mikolajczak
NEW YORK, Oct 12 (Reuters) - U.S. stock index futuresadvanced on Friday, indicating the S&P 500 may crimp its worstweekly decline since early June, following a robust earningsreport from JP Morgan and ahead of data on consumer confidenceand inflation.
JPMorgan Chase & Co
rose 1.4 percent to $42.68 inpremarket trading after reporting a 34 percent jump inthird-quarter profits as the largest U.S. bank made more homemortgage loans.
But Wells Fargo & Colost 1.8 percent to $34.55 inpremarket trading after reporting its third-quarter results.
The earnings of both banks will be scrutinized for insighton the health of the financial sector and the economy as awhole. Both had been forecast to benefit significantly from ahome loan refinancing boom.
"The banks are a huge part of what is going on - they havebeen trading below tangible book value, which means people don'tbelieve what is on their books, so any time we get informationon them, that could be a driver for the market," said KimForrest, senior equity research analyst, Fort Pitt Capital Groupin Pittsburgh.
"So people are going to be analyzing the results from JPMorgan and trying to figure out if things in the economy aregetting better or staying the same."
The benchmark S&P index has shed 1.9 percent so far thisweek, putting it on track for its worse weekly performance sincea 3-percent drop in the week through June 3.
Weak global demand has heightened investor worry over thecorporate earnings season. As a group, S&P 500 companies'third-quarter earnings are expected to fall 3 percent from ayear ago, according to Thomson Reuters data, marking the firstdecline in three years.
Economic data is due, in the form of the September producerprice index at 8:30 a.m. EDT (1230 GMT) and the ThomsonReuters/University of Michigan Surveys of Consumers preliminaryconsumer sentiment index for October at 9:55 a.m. (1355 ET).
Producer prices are expected to show a 0.7 percent risecompared with a 1.7 percent rise in August. Economists in aReuters survey expect a consumer sentiment reading of 78.0compared with 78.3 in the final September report.
Investors will eye the PPI data for any signs of inflationwhile consumer sentiment will be monitored for indicationsrecent labor market data helped boost views on the economy.
S&P 500 futures
rose 3.7 points and were above fairvalue, a formula that evaluates pricing by taking into accountinterest rates, dividends and time to expiration on thecontract. Dow Jones industrial average futures
gained 24points, and Nasdaq 100 futuresadded 3.5 points.Advanced Micro Devices Inc
dropped 8.1 percent to$2.94 in premarket trading after the chipmaker said itsthird-quarter revenue likely fell 10 percent from the previousquarter as a weak global economy and a growing preference fortablets slams the PC industry.
European shares fell and looked set to end the week innegative territory but analysts said the market was not likelyto witness a sharp sell-off.
Asian stocks steadied, but were on course for a losing weekas worries about weak corporate earnings and slowing globaleconomic growth limit the appeal of riskier assets.
(Editing by Bernadette Baum)
((charles.mikolajczak@thomsonreuters.com)(+1 646 2235234)(Reuters Messaging:charles.mikolajczak.thomsonreuters.com@reuters.net))
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