Futures Slip on China Worries, JPMorgan

Futures declined Thursday after JPMorgan Chase beat analyst expectations for profit but showed weakness internally that left traders unimpressed and followign news that Chinese trade data was weaker than expected.

JPMorgan slipped after the banking giant reported lower net income, as the European debt crisis set back corporate dealmaking. Other major U.S. banks fell following the news, including Citigroup and Morgan Stanley .

Meanwhile, Chinese trade data was weaker than expected, with the trade surplus narrowing for the second consecutive month, reigniting worries about the global economy.

On the economic front, weekly jobless claims dipped 1,000 last weekto a seasonally adjusted 404,000, according to the Labor Department, from an upwardly revised 405,000 in the prior week. Economists had forecast claims rising to 405,000 according to a Reuters poll.

Trade deficit came in slightly lower than expected at $45.61 billion in August from $45.63 billion in July, according to the Commerce Department. Economists had expected a gap of $45.8 billion, according to a Reuters poll.

And, mortgage default notices spiked in the third quarter, according to RealtyTrac data, while bank seizures of homes were down.

Meanwhile, Research In Motion said its services, crippled by outages over the past three days, have improved significantly but some users across the world were still experiencing delays.

Apple obtained a legal victory when an Australian court put a temporary ban on sales of Samsung's latest tablet computer.

AOL rose amid news the struggling BlackBerry company has been meeting with shareholders to talk about a possible sale to Yahoo, according to a Reuters report.

Internet search giant Google is scheduled to report earnings after-the-bell.

Walt Disney edged lower after Credit Suisse cut its price target on the media conglomerate to $40 from $43.

PetSmart rallied after the pet products and services company raised its third-quarter and full-year earnings outlooks, helped by better-than-expected revenue at same-store sales.

—Follow JeeYeon Park on Twitter: twitter.com/JeeYeonParkCNBC

On Tap This Week:

THURSDAY: Oil inventories, 30-yr bond auction, Fed's Kocherlakota speaks; Earnings from Google
FRIDAY: Retail sales, import/export sales, consumer sentiment, business inventories, new iPhones available; Earnings from Mattel