US STOCKS-Wall St set for higher open on earnings, sales data

* Intel, JPMorgan post solid results

* Retail sales top estimates, CPI in line

* Futures up: Dow 47 pts, S&P 500 4.8 pts, Nasdaq 11.75

* For up-to-the-minute market news, click [STXNEWS/US]

BY Chuck Mikolajczak

NEW YORK, April 14 (BestGrowthStock) – Wall Street was set for a
higher open on Wednesday, boosted by solid results from Intel
and JP Morgan Chase, while retail sales data provided fresh
evidence of an economic recovery.

Intel Corp (INTC.O: ), the world’s top chipmaker, rose 4.1
percent to $23.71 in premarket trade after it gave a sales and
margin forecast that trounced expectations, solidifying hopes
for an acceleration in the technology sector’s recovery. For
details, see [ID:nN13828011

An upbeat sales forecast from top contract chipmaker TSMC
(2330.TW: )(TSM.N: ) and solid results from Dutch chip equipment
maker ASML Holding NV (ASML.AS: )(ASML.O: ) gave further support to
the view that business and consumer spending will rise this
year. [ID:nTOE63D02F] [ID:nLDE63C2CJ]

JPMorgan Chase & Co (JPM.N: ) advanced 2.8 percent to $47.17
premarket after the New York-based bank reported first-quarter
profit that topped expectations as revenue from its investment
bank offset losses on consumer loans. [ID:nN14132602]

“All in all, it’s early in the earnings season, but it’s a
positive demand trend we’re seeing,” said Bennett Gaeger,
managing director at Stifel Nicolaus in Baltimore.

“It’s not only pointing to a U.S. rebound, it looks like
more of a global, macro rebound.”

The Commerce Department reported sales at U.S. retailers
rose more strongly than expected in March as total sales were
up 1.6 percent versus the forecasts of a 1.2 percent increase.
[ID:nN1395557]

Consumer prices rose 0.1 percent, matching expectations,
the Labor Department said, giving the Federal Reserve a chance
to keep ultra-low interest rates. [ID:nN14135371]

“CPI remains in check, so that gives the Fed more room in
terms of when to decide to change policy or raise interest
rates,” said Subodh Kumar, chief investment strategist at
Subodh Kumar & Associates in Toronto.

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 4.8 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 47
points, and Nasdaq 100 futures NDc1> gained 11.75 points.

China’s economy (Read more about the fastest growing economy.) grew about 11.9 percent in the first
quarter, topping forecasts, to expand at the fastest annual
pace in nearly three years, according to two market sources.
[ID:nLDE63D1AB]

Investing

(Reporting by Chuck Mikolajczak; additional reporting by by
Rodrigo Campos; editing by Jeffrey Benkoe)

US STOCKS-Wall St set for higher open on earnings, sales data