US STOCKS-Intel, JP Morgan results lift futures

NEW YORK, April 14 (BestGrowthStock) – U.S. stock index futures
rose on Wednesday, boosted by Intel Corp (INTC.O: ) after the
technology bellwether posted better-than-expected quarterly
results and forecast revenue above estimates.

Intel, the world’s top chipmaker, rose about 5 percent to
$23.82 premarket after it gave a sales and margin forecast that
trounced expectations, solidifying hopes for an acceleration in
the tech sector’s recovery. For details, see [ID:nN1382801

Also supporting the view that business and consumer
spending will increase this year was an upbeat sales forecast
from top contract chipmaker TSMC and solid results from Dutch
chip equipment maker ASML. [ID:nTOE63D02F [ID:nLDE63C2CJ]

JP Morgan Chase & Co (JPM.N: ) advanced 3.4 percent to $47.42
premarket after the New York-based bank reported a jump in
first-quarter earnings as revenue from its investment bank
offset losses on consumer loans. [ID:nN14132602

“We have two good reports, from Intel and JPMorgan, and we
have economic data today that is likely to beat expectations,”
said Peter Cardillo, chief market economist at Avalon Partners
in New York.

“The results confirm what we have been expecting, solid
first-quarter earnings and downplays some of the bad news we
got earlier, such as Alcoa’s results.”

Economic data includes retail sales and consumer prices for
March at 8:30 a.m. EDT 1230 GMT and February’s business
inventories at 10 a.m. EDT 1400 GMT.

“The (retail sales) numbers obviously should confirm the
consumer spending is beginning to kick in the economic
expansion.” added Cardillo.

Investors will also eye the Federal Reserve’s Beige Book,
set for release at 2 p.m. EDT (1800 GMT) for any clues into
when the central bank will be adjusting its monetary policy.

S&P 500 futures SPc1> rose 5.4 points and were above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures DJc1> added 45
points, and Nasdaq 100 futures NDc1> gained 11.75 points.

European stocks extended gains on Wednesday with technology
shares advancing after Intel’s strong results and JP Morgan
reported a quarterly results. [ID:nLDE63D14Z

Asian stocks rode the rally in the technology sector
triggered by Intel’s earnings and regional currencies rose
after Singapore’s aggressive monetary tightening triggered
speculation it heralded a yuan revaluation. [ID:nSGE63D05K]

U.S. stocks (Read more about the stock market today. ) eked out a gain on Tuesday as investors looked
ahead to earnings from bug banks and tech bellwethers, even as
disappointing revenue from Alcoa acted as a headwind.

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(Reporting by Chuck Mikolajczak; Additional reporting by
Angela Moon, editing by W Simon and Jeffrey Benkoe)

US STOCKS-Intel, JP Morgan results lift futures