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Stock futures higher on Wall Street
Stock futures higher after worst day in two months; Retail sales advance in December
By STEVE ROTHWELL
Associated Press
2014-01-14 10:42 PM

NEW YORK (AP) -- U.S. stock futures were higher ahead of the opening bell on Wall Street Tuesday, rebounding after stocks fell the most in two months Monday. Investors were watching the earnings reports of a couple of big banks.

KEEPING SCORE: The Dow Jones industrial average futures rose 27 points to 16,241. The Standard & Poor's 500 index futures gained three points to 1,818 and Nasdaq composite futures climbed eight points to 3,517.

RETAIL SALES: Americans spent more on clothing and online in December. But they cut back almost everywhere else to end the holiday shopping season on a lackluster note. Retail sales rose 0.2 percent last month, the Commerce Department said Tuesday. That follows strong gains in October and November, helped by healthy auto sales.

BANK EARNINGS: JPMorgan Chase, the biggest U.S. bank by assets, said Tuesday that its profits fell 7 percent in the fourth quarter, hampered by more legal woes and a decline in the bank's investment banking business. The banks' stock rose 0.8 percent in premarket trading.

Wells Fargo says its fourth-quarter profit rose 11 percent as increased interest income helped offset a steep drop in mortgage lending. Its stock fell 0.7 percent in trading before the bell.

TREASURYS AND COMMODITIES: The yield on the 10-year Treasury note rose to 2.86 percent from 2.83 percent on Monday. The price of oil rose 33 cents, or 0.4 percent, to $92.13. Gold was little changed from Monday at $1,250 an ounce.

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