* JPMorgan Q4 profit jumps, stock dips
* Intel rises after results
* Retail sales, Univ. of Mich sentiment data on tap
* Futures off: Dow 53 pts, S&P 3.8 pts, Nasdaq 3 pts
* For up-to-the-minute market news see []
(Adds quote, updates prices)
By Ryan Vlastelica
NEW YORK, Jan 14 (Reuters) - U.S. stock index futures fell
on Friday despite strong quarterly results from JPMorgan Chase
& Co as the Dow Industrials and S&P 500 looked to close out a
seventh week of gains.
JPMorgan <JPM.N>, the first major financial company to
report, post a 47 percent jump in quarterly profit, helped by
narrowing losses on bad loans. Chief Executive Jamie Dimon said
there were signs of stability and growth returning to the U.S.
economy. For details, see []
The expectations of strong earnings have lifted equities in
recent weeks, with the S&P 500 hovering near a 28-month high.
JPMorgan has risen 4.8 percent since the start of January,
dipped 0.3 percent to $44.31 in volatile premarket trading.
"JPMorgan's results make me more optimistic about what we
could see out of other large banks, but everyone is ready to
take a bit of the break given the tremendous run-up we've had,"
said Oliver Pursche, president at Gary Goldberg Financial
Services in Suffern, New York.
While results were above expectations, "they're not blowing
anyone away. That's why they're not enough to move the
futures."
China raised bank reserve requirements, offering more
evidence that its central bank was preparing to allow economic
growth to slow as it battles inflation. []
Intel Corp <INTC.O> added to the optimism over company
earnings after posting better-than-expected quarterly profit
late Thursday. The technology bellwether also forecast strong
revenues for the coming quarter. Intel, a Dow component, rose
1.6 percent to $21.64 in premarket trading and helped limit
losses in Nasdaq futures. []
S&P 500 futures <SPc1> fell 3.8 points and were below 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> fell 53
points, and Nasdaq 100 futures <NDc1> lost 3 points.
A pair of datapoints on the consumer will be closely
watched by investors. December retail sales, to be released at
8:30 a.m. EST (1330 GMT), are seen rising 0.8 percent, matching
the previous month.
The preliminary Reuters/University of Michigan January
sentiment number will be released at 9:55 a.m. (1455 GMT), and
is seen edging up to 75.4 from 74.5 in the previous month.
French drugmaker Sanofi-Aventis SA <SASY.PA> hopes to reach
a takeover deal that would value U.S. target Genzyme <GENZ.O>
at around $76 per share, or some $20 billion, the French daily
Le Figaro reported. Genzyme edged 0.3 percent higher to $72.60
in premarket trading. []
Bristol-Myers Squibb Co <BMY.N> has recalled 64 million
tablets of the blood pressure medicine Avalide in the United
States and Puerto Rico, marking the second major recall of the
medicine in less than four months. The stock closed at $25.90.
[]
U.S. stocks edged lower Thursday, hurt by a slide in
drugmaker Merck & Co Inc <MRK.N> and as falling commodities
prices hit shares of natural resource companies.
(Editing by Jeffrey Benkoe)
