US STOCKS-Markets down 1 pct as data overshadows JPMorgan

                                
   * JPMorgan posts better-than-expected profit but stock down
                                
 * NY manufacturing, Philly Fed index drops
                                
 * NBTY surges on Carlyle Group deal
                                
 * Dow, S&P and Nasdaq fall 1 pct
                                
 * For up-to-the-minute market news see [STXNEWS/US]
                                
 By Ryan Vlastelica
                                
 NEW YORK, July 15 (Reuters) - U.S. stocks fell 1 percent on
Thursday, with Dow and Nasdaq seven-day winning streaks on the
line, as anemic economic data overshadowed better-than-expected
quarterly profits from JPMorgan Chase & Co <JPM.N>.
                                
 The Philadelphia Federal Reserve Bank said factory activity
in the U.S. Mid-Atlantic region fell unexpectedly and New York
manufacturing hit the lowest since December 2009, while
producer prices declined for a third straight month, raising
concerns about deflation. For details, see [ID:nN15195407] and
[ID;nN15204522]
                                
 Jeff Kleintop, chief market strategist at LPL Financial in
Boston, said the reports were "reminding investors that we're
going through a period of slowdown."
                                
 Dow component JPMorgan Chase fell 1.4 percent to $39.79,
even as second-quarter profit topped estimates and its loan
loss reserves fell by $1.5 billion. Much of the gains came in
areas that will not be a stable future source of income.
[ID:nN13247761]
                                
 "JPMorgan's numbers were good, but they did it by cutting
expenses, not through top-line revenue growth," said John
Brady, senior vice president at MF Global in Chicago. "In the
longer term, that's troubling."
                                
 The Dow Jones industrial average <.DJI> dropped 99.60
points, or 0.96 percent, at 10,267.12. The Standard & Poor's
500 Index <.SPX> was down 11.12 points, or 1.02 percent, at
1,084.05. The Nasdaq Composite Index <.IXIC> fell 21.35 points,
or 0.95 percent, at 2,228.49.
                                
 In one good economic report, jobless claims declined to a
nearly two-year low in the latest week as seasonal layoffs
eased at factories.
                                
 Advanced Micro Devices Inc <AMD.N> and Google Inc <GOOG.O>
will both report quarterly results after the market closes,
giving further insight into the technology sector after Intel
Corp <INTC.O> posted strong results earlier this week.
                                
 AMD slid 2.3 percent to $7.28, while Google was off 1.4
percent to $488.91.
                                
 Amazon.com Inc <AMZN.O> fell 2.4 percent to $120.34 after
Bank of America-Merrill Lynch downgraded the stock to "neutral"
from "buy," saying growth at the online retailer was slipping.
[ID:nSGE66E0G9]
                                
 On the upside, NBTY Inc <NTY.N> surged 44 percent to $54.01
after it agreed to be bought by Carlyle Group [CYL.UL] for $3.8
billion, $55 per share. [ID:nSGE66E0FY]
  (Additional reporting by Leah Schnurr; editing by Jeffrey
Benkoe)