Futures Rise on Intel, JPMorgan Earnings

Stock futures were pointing to a stronger open Wednesday as investors cheered better-than-expected earnings from Intel and JPMorgan.
Publish date:



) -- Stock futures were pointing to a stronger open Wednesday as investors cheered better-than-expected earnings from


(INTC) - Get Report


JPMorgan Chase

(JPM) - Get Report


Futures for the

Dow Jones Industrial Average

were higher by 72 points, or 66 points above fair value, at 11,029. Futures for the

S&P 500

were up by 9 points, or 7 points above fair value, at 1173 and


futures were ahead by 16 points, or 14 points above fair value.

>>Live Blog: JPMorgan Earnings Call

Stocks turned positive Tuesday after the

Federal Reserve's

meeting minutes showed members to be largely ready to enact further easing to strengthen the recovery.

JPMorgan Chase reported a third-quarter profit of $1.01 a share, exceeding Wall Street's estimates for earnings of 88 cents a share.

Dutch semiconductor equipment maker


(ASML) - Get Report

reported better-than-expected third-quarter earnings and said sales more than doubled.

Late Tuesday,

Intel topped earnings expectations by 2 cents a share and said strong demand was expected to continue in the fourth quarter.

Import prices fell 0.3% in September after increasing 0.6% in August, while export prices rose 0.6% compared with growth of 0.8% in August. Excluding oil, import prices ticked 0.3% higher after similar growth in the previous month, and September export prices excluding agriculture advanced 0.3% after previous growth of 0.5%.

At 2 p.m. EDT, the U.S. Treasury is expected to report a September budget deficit of $33.5 billion, compared with a deficit of $46.6 billion in the prior month, according to Briefing.com.

The American Petroleum Institute will release its weekly read on crude oil inventories at 4:30 p.m. The report is delayed by a day because of the Columbus Day holiday on Monday. Analysts, according to a Platts poll, are anticipating a build of 1.5 million barrels to crude stocks in the week ended Oct. 8.

In commodity markets, crude oil for November delivery was adding 98 cents to trade at $82.65 a barrel, and the December gold contract was gaining $11.70 to $1,358.40 an ounce.

Meanwhile, the dollar was trading lower against a basket of currencies, with the dollar index down by 0.3%, and the benchmark 10-year Treasury note fell 4/32, lifting the yield to 2.447%.

Overseas, Hong Kong's Hang Seng jumped 1.5%, and Japan's Nikkei inched 0.2% higher. The FTSE in London was rising 1.2%, and the DAX in Frankfurt was gaining 1.5%.

--Written by Melinda Peer in New York


Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.