* 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.
* Procter & Gamble rose 1.3 percent to $87.04 after UBS upgraded the stock to “buy” from “neutral”.
* Unemployment claims for the week ended July 9, likely rose 11,000 to 265,000. The data is expected at 8:30 a.m. ET (1230 GMT).
* A host of Fed officials, including presidents of Atlanta and Kansas Feds, are scheduled to speak at separate events on Thursday. In recent speeches, many Fed authorities have called for no urgency in raising rates.
Futures snapshot at 7:01 a.m. ET:
* Dow e-minis were up 113 points, or 0.62 percent, with 37,360 contracts changing hands.
* S&P 500 e-minis were up 11.25 points, or 0.52 percent, with 255,522 contracts traded.
* Nasdaq 100 e-minis were up 22 points, or 0.48 percent, on volume of 24,586 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D‘Souza)