* Futures down: Dow 7 pts, S&P 1 pts, Nasdaq 7.5 pts
By Abhiram Nandakumar
Oct 14 (Reuters) - U.S. stock index futures fell slightly on Wednesday as fresh economic data from China caused a selloff in commodities and investors awaited a raft of earnings reports.
* Consumer inflation in China rose 1.6 percent in September, less than the 1.8 percent expected, feeding worries of sluggish demand from the world’s second largest economy.
* Global stocks fell, buckling under the China concerns. U.S. stocks closed lower on Tuesday, ending a seven-day run of gains, hurt by a renewed rout in biotechs.
* JPMorgan shares fell 1.6 percent to $60.55 premarket, a day after the bank reported third-quarter results below estimates.
* Bank of America rose 0.8 percent to $15.65 after the bank reported a profit, compared with a year-earlier loss.
* Delta Air Lines rose 1.6 percent to $48.50 after it reported third-quarter earnings ahead of expectations.
* Investors will be focused on earnings over the next several weeks to gauge the impact of a sputtering global economy on corporate health.
* S&P 500 companies are expected to report a 4.8 percent fall in third-quarter profit, the biggest decline in six years, according to Thomson Reuters data.
* Wells Fargo reports results before the bell. Netflix reports after the close.
* Intel fell 2.3 percent to $31.29 after the world’s biggest chipmaker cut its outlook on Tuesday on revenue growth at its key data center business.
* Sandisk rose 9.5 percent to $67.62 on a Bloomberg report, which said Micron Tech and Western Digital were in talks to buy the memory chip maker.
* Data due on Wednesday includes U.S. retail sales data for September, forecast to have increased 0.2 percent. The data is scheduled at 8:30 a.m. ET (1230 GMT).
* The data will give investors a picture of domestic demand and its impact on the Federal Reserve’s decision to raise interest rates.
* The central bank, which has kept rates at near-zero levels, has said it is awaiting signs of stabilized inflation before pulling the trigger.
* Also due at 8:30 a.m. is the producer price index, which is forecast to have fallen 0.7 percent in the 12 months to September, the eighth decline in a row.
* The Fed will issue its Beige Book, which contains anecdotal information on business activity. The data is expected to show an increase in the budget deficit to $95.0 billion in September from $64.4 billion in August.
Futures snapshot at 7:08 a.m. ET:
* S&P 500 e-minis were down 1 points, or 0.05 percent, with 119,877 contracts traded.
* Nasdaq 100 e-minis were down 7.5 points, or 0.17 percent, on volume of 21,453 contracts.
* Dow e-minis were down 7 points, or 0.04 percent, with 16,566 contracts changing hands. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Don Sebastian)