Futures climb ahead of big bank earnings, producer prices data
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* Futures up: Dow 0.61%, S&P 0.69%, Nasdaq 0.81%
Oct 14 (Reuters) - U.S. stock index futures climbed on Thursday as surging oil prices lifted energy shares, while investors awaited earnings updates from big banks and a fresh reading on inflation data.
After a strong quarterly performance from JPMorgan Chase & Co JPM.N , peers Bank of America BAC.N , Citigroup C.N , Wells Fargo WFC.N and Morgan Stanley MS.N were set to publish their results before the opening bell.
Their shares edged higher in premarket trading after declining sharply in the previous session.
The S&P 500 and the Nasdaq ended higher on Wednesday, led by mega-cap tech names after the Federal Reserve signaled it could start reducing its crisis-era support by mid-November, with several policymakers worried that high inflation could persist longer than previously thought.
The case for a Fed interest-rate hike was further strengthened on Wednesday as consumer prices rose solidly in September. All eyes are on producer prices data and initial jobless claims, due at 08:30 a.m. ET. At 06:00 a.m. ET, Dow e-minis 1YMcv1 were up 208 points, or 0.61%, S&P 500 e-minis EScv1 were up 30.25 points, or 0.69%, and Nasdaq 100 e-minis NQcv1 were up 119.25 points, or 0.81%.
Mega-caps growth names including Facebook Inc FB.O , Microsoft Corp MSFT.O , Amazon.com Inc AMZN.O , Tesla Inc TSLA.O , Apple Inc AAPL.O and Google-parent Alphabet GOOGL.O rose about 1%.
Energy firms including Chevron Corp CVX.N and Exxon Mobil XOM.N gained 0.7% and 1.2%, respectively, tracking Brent crude prices LCoc1 that rose toward $84 per barrel.
Rising oil prices coupled with supply chain disruptions have rattled investors, with investors focusing on how companies are going to mitigate rising costs as earnings get under way.
UnitedHealth Group Inc UNH.N rose 2.1% after the health insurer beat analysts' estimates for third-quarter profit, helped by a jump in revenue from its Optum unit that manages drug benefits.
U.S.-listed shares of Taiwan Semiconductor Manufacturing Co Ltd TSM.N added 3.4% after the chipmaker posted a 13.8% jump in quarterly profit and lifted its revenue growth forecast for 2021, citing an "industry megatrend" of strong chip demand.
Pharmacy chain Walgreens Boots Alliance Inc WBA.O and pizza chain Domino's Pizza Inc DPZ.N are also slated to report their quarterly earnings later in the day.
Reporting by Devik Jain in Bengaluru; Editing by Arun Koyyur
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