US STOCKS-S&P, Nasdaq futures rise as JPMorgan, Goldman set to kick off earnings season – Reuters Canada

US STOCKS-S&P, Nasdaq futures rise as JPMorgan, Goldman set to kick off earnings season – Reuters Canada

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)* Futures: Dow flat, S&P up 0.07%, Nasdaq adds 0.14%April 14 (Reuters) - U.S. stock index futures rose on Wednesday ahead of quarterly earnings reports from JPMorgan and Goldman Sachs, with investors expecting a strong rebound for corporate America against the backdrop of a swift vaccine-led global economic recovery.JPMorgan Chase & Co is expected to kick off the first-quarter earnings season for big banks at 6:45 a.m ET, followed by Goldman Sachs Group Inc and Wells Fargo & Co later in the morning.Analysts expect overall net income for U.S. banks to jump between 60% and 250% from a year earlier, partly as they release a chunk of “reserves” – money they had set aside last year for expected pandemic loan losses.First-quarter earnings for S&P 500 companies are estimated to have risen 25% in the quarter, according to Refinitiv IBES data. That would be the biggest quarterly gain since 2018, when tax cuts under former President Donald Trump had powered profit growth.Shares of Goldman Sachs were up 0.7% in premarket trading, while those of JPMorgan and Wells Fargo were flat.At 6:15