US STOCKS-Futures rise on hope Syria conflict will not escalate

Reuters

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    * Futures up: Dow 0.63 pct, S&P 0.61 pct, Nasdaq 0.62 pct 

    By Sruthi Shankar
    April 16 (Reuters) - U.S. stock index futures rose on Monday
as investors bet the weekend's U.S.-led missile attack on Syria
would not escalate into a broader conflict.
    The focus was back on earnings, with Bank of America  BAC.N 
reporting a 34 percent rise in quarterly profit. Its shares were
up 0.84 percent in premarket trading.  urn:newsml:reuters.com:*:nL3N1RT46T
    JPMorgan  JPM.N , Wells Fargo  WFC.N  and Citigroup  C.N 
kicked off the quarterly earnings season on Friday, although
their performances failed to excite investors.
    Thomson Reuters data is expecting S&P 500 companies to
report an 18.6 percent rise in profits in the first quarter,
their biggest rise in seven years. 
    Many traders say that reactions to results could be muted as
market participants have already priced in benefits from
corporate tax cuts, reflected in the stock market's strong rally
in 2017 and early 2018.
    At 7:01 a.m. ET, Dow e-minis  1YMc1  were up 154 points, or
0.63 percent. S&P 500 e-minis  ESc1  rose 16.25 points, or 0.61
percent and Nasdaq 100 e-minis  NQc1  gained 41.5 points, or
0.62 percent.
    On Saturday, the United States, France and Britain launched
105 missiles on Syria in retaliation for a suspected poison gas
attack.  urn:newsml:reuters.com:*:nL8N1RS0BR
    The countries said the missile strikes targeted Syria's
chemical weapons capabilities and were not aimed at toppling
Syrian President Bashar al-Assad or intervening in the civil
war.
    President Donald Trump tweeted "mission accomplished" after
the attack, underlining expectations that Western action would
be limited.
    Russian President Vladimir Putin warned that further Western
attacks on Syria would bring chaos to world affairs, as
Washington prepared to increase pressure on Russia with new
economic sanctions. 
    Retail sales data for March is scheduled for release at 8:30
a.m. ET. Sales are expected to have increased 0.4 percent after
falling for the previous three months that prompted analysts to
downgrade their first-quarter economic growth forecasts.
    Among other stocks, General Electric  GE.N  shares were down
more than 1 percent after the company said it took a $4.24
billion equity charge and reduced earnings for the last two
years by 30 cents a share.  urn:newsml:reuters.com:*:nL1N1RQ236 
    Netflix  NFLX.O  shares rose 1.44 percent ahead of its
results expected after market close on Monday.

 (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil
D'Silva)
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6749 6328; Reuters Messaging:
sruthi.shankar.reuters.com@reuters.net))

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