April 13, 2016 / 11:22 AM / 2 years ago

US STOCKS-Futures rise on strong Chinese trade data

* Futures rise: Dow 99 pts, S&P 12.25 pts, Nasdaq 33.75 pts

By Yashaswini Swamynathan

April 13 (Reuters) - U.S. stock index futures were higher on Wednesday after strong Chinese trade data raised hopes that the world’s second largest economy was beginning to recover.

* JPMorgan Chase & Co kicked off big bank earnings on Wednesday with higher-than-expected quarterly profit and revenue. The stock was up 2.3 percent at $60.65 in premarket trading.

* The results helped other bank stocks, with Bank of America rising 2.6 percent and Citigroup gaining 2 percent.

* Financials stocks have taken a beating in recent weeks over the uncertainty surrounding the U.S. Federal Reserve’s plan to raise interest rates and a looming wave of defaults from energy companies.

* Data on Tuesday showed Chinese exports rose 11.5 percent in March, their first increase in nine months, while imports fell less than expected.

* Global markets logged strong gains as investor sentiment rose on the surprise upbeat data.

* Crude fell about 1 percent on Wednesday, reversing course from a strong rally on Tuesday, on fears that a potential freeze in production may do little to curb a global glut.

* U.S. retail sales is expected to have grown 0.3 percent in March, after staying flat the previous month. The report is due at 08:30 a.m. ET (1230 GMT).

Futures snapshot at 7:01 a.m. ET:

* Dow e-minis were up 99 points, or 0.56 percent, with 26,313 contracts changing hands.

* S&P 500 e-minis were up 12.25 points, or 0.6 percent, with 185,383 contracts traded.

* Nasdaq 100 e-minis were up 33.75 points, or 0.75 percent, on volume of 23,465 contracts. (Reporting by Yashaswini Swamynathan and Abhiram Nandakumar in Bengaluru; Editing by Anil D’Silva)

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