US STOCKS-Wall Street to open lower after JP Morgan results

viernes 11 de abril de 2014 08:54 GYT
 

* JPMorgan falls, Wells Fargo flat after results

* PPI posts largest increase in nine months

* UMich data on tap

* Gap shares fall after March sales

* Futures off: Dow 77 pts, S&P 9 pts, Nasdaq 26 pts (Adds data, Wells Fargo earnings, updates prices)

By Chuck Mikolajczak

NEW YORK, April 11 (Reuters) - U.S. stocks were set for a lower open on Friday after earnings from JP Morgan Chase, putting the S&P 500 on track to continue its selloff after suffering its biggest drop in two months.

* JPMorgan Chase & Co shares fell 3.6 percent to $55.35 in premarket after it reported a far weaker-than-expected quarterly profit as revenue from securities trading fell.

* Wells Fargo & Co, the biggest U.S. mortgage lender, reported a 14 percent rise in first-quarter net profit as costs fell. Its shares slipped 1 cent to $47.70 in premarket.   Continuación...