US STOCKS-Futures rise as JPMorgan kicks off earnings season on strong note
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* JPM rises after Q1 profit beat
* Anadarko jumps on Chevron's$33 bln deal
* Futures up: Dow 0.70%, S&P 0.54%, Nasdaq 0.47%
By Shreyashi Sanyal and Sruthi Shankar
April 12 (Reuters) - U.S. stock index futures rose on Fridayafter JPMorgan kicked off first-quarter earnings season on astrong note, while signs of stabilization in China's economyhelped ease global growth concerns.
JPMorgan Chase & CoJPM.N rose 2.5% after the largest U.S.bank by assets topped quarterly earnings expectations, helped byhigher interest income and gains in the bank's advisory and debtunderwriting business.
Shares of Well Fargo & Co WFC.N climbed 1.7%, ahead of itsquarterly earnings report.
S&P 500 companies are expected to post their first profitcontraction since 2016 in the first quarter, with analystsprojecting a 2.5 percent drop in earnings. Also, S&P 500 banksare expected to post earnings growth of 1.8%, down from an 8.2%rise estimated six months ago, according to Refinitiv data.
The S&P banks index .SPXBK has risen 12.8% this year,compared with a 15.2% gain for the S&P 500.
Data from China showed exports rebounded in March butimports shrank for a fourth straight month and at a sharperpace. The data, which eased concerns about a slowdown in world'ssecond largest economy, and a jump in oil prices offered supportto global equities.
Grabbing the spotlight in the energy sector was ChevronCorp's CVX.N$33 billion offer to buy smaller rival AnadarkoPetroleum CorpAPC.N . Shares of Anadarko jumped 30.3%, whileChevron fell 4%.
At 7:14 a.m. ET, Dow e-minis 1YMc1 were up 183 points, or0.7%. S&P 500 e-minis ESc1 were up 15.5 points, or 0.54% andNasdaq 100 e-minis NQc1 were up 35.75 points, or 0.47%.
The S&P 500 index .SPX is now less than 2% away from itsall-time high hit in September, helped by the Federal Reserve'spatient stance on raising interest rates and signs of progressin the U.S.-China trade talks.
Investors are hoping that a trade deal with China and abetter-than-feared quarterly earnings season will help push WallStreet above its September high.
Walt Disney CoDIS.N gained 3.2% after the company pricedit highly anticipated streaming service in a bid to challengethe digital dominance of Netflix IncNFLX.O . Netflix shareswere down 0.7%.
New York-listed shares of Fiat Chrysler FCAU.K rose 3.1%after its chairman provided an upbeat outlook for the full year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.