Published October 12, 2012
NEW YORK – U.S. stock index futures were higher on Friday, indicating the S&P 500 may crimp its worst weekly decline since early June, after robust earnings from JP Morgan and ahead of data on consumer confidence and inflation.
* JPMorgan Chase & Co rose 1.8 percent to $42.85 in premarket trading after reporting higher third-quarter profits as the largest U.S. bank made more home mortgage loans.
* Also on tap for Friday were earnings from Wells Fargo & Co . Earnings from both banks will be monitored for insight on the health of the financial sector, and the economy as a whole. Both have been forecast to report an increase of roughly 20 percent in their earnings per share, due in part to a home loan refinancing boom.
* Advanced Micro Devices Inc dropped 8.1 percent to $2.94 in premarket trading after the chipmaker said its third-quarter revenue likely fell 10 percent from the previous quarter as a weak global economy and a growing preference for tablets slams the PC industry.
* European shares fell and looked set to end the week in negative territory but analysts said the market was not likely to witness a sharp sell-off.
(Editing by Bernadette Baum)