US STOCKS-JPMorgan results boost futures, but BoE move trims gains

jueves 14 de julio de 2016 07:23 GYT
 

* Futures up: Dow 113 pts, S&P 11.25 pts, Nasdaq 22 pts

By Yashaswini Swamynathan

July 14 (Reuters) - U.S. stock index futures were higher on Thursday as JPMorgan's quarterly profit beat expectations, although futures dipped slightly after the Bank of England surprised investors by leaving interest rates unchanged.

* The BoE said it was likely to deliver stimulus in three weeks, once it assessed how Britain's decision to leave the European Union has affected the economy.

* JPMorgan, the biggest U.S. bank by assets, reported a quarterly profit that beat estimates by a large margin, kicking off big banks' earnings on a upbeat note. The company's shares rose 2.5 percent to $64.75 premarket.

* Citigroup, Bank of America, Wells Fargo and Morgan Stanley rose 1.3-2.0 percent.

* Investors will watch out for comments by JPMorgan executives on the impact of the Brexit vote on its business.

* Wall Street ended flat on Wednesday though the S&P and the Dow closed at record highs. With the earnings season gathering steam, investors will parse corporate reports to justify stock valuations.

* Second-quarter S&P 500 earnings are expected to fall 5 percent, mirroring the first quarter. But analysts expect steady growth throughout the rest of the year, according to StarMine.   Continuación...