US STOCKS-Futures rise on JPMorgan results, data due
* Futures up: Dow 29 pts, S&P 4.6 pts, Nasdaq 3.75 pts
* JP Morgan climbs after earnings, Wells Fargo due
* PPI, consumer sentiment data on tap
* AMD drops after revenue warning
By Chuck Mikolajczak
NEW YORK, Oct 12 (Reuters) - U.S. stock index futures werehigher on Friday, indicating the S&P 500 may crimp its worstweekly decline, after robust earnings from JP Morgan and aheadof data on consumer confidence and inflation.
* JPMorgan Chase & Co
rose 1.8 percent to $42.85 inpremarket trading after reporting higher third-quarter profitsas the largest U.S. bank made more home mortgage loans.
* Also on tap for Friday were earnings from Wells Fargo & Co
. Earnings from both banks will be monitored for insighton the health of the financial sector, and the economy as awhole. Both have been forecast to report an increase of roughly20 percent in their earnings per share, due in part to a homeloan refinancing boom.
* Investors will also look to economic data in the form ofthe September producer price index at 8:30 a.m. EDT (1230 GMT)and the Thomson Reuters/University of Michigan Surveys ofConsumers preliminary consumer sentiment index for October at9:55 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 4.6 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 29points, and Nasdaq 100 futuresadded 3.75 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 losingweek as 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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