U.S. stock futures surged early Wednesday, fueled by positive earnings news. Intel reported earnings and revenue that topped Wall Street’s estimates and also issued an upbeat outlook. Separately, JPMorgan Chase reported third quarter earnings of 82 cents per share, much more than the expected 51 cents per share.
Sales at U.S. retailers fell in September, hurt by a decline in auto sales as the government-sponsored incentives ended, but the decline was less than expected. Total sales fell 1.5% from a revised 2.2% in August. Sales were expected to have declined 2.1%. Excluding motor vehicles and parts, retail sales rose by a bigger-than-expected 0.5% after a 0.1% increase in August. Economists had expected a 0.2% increase.
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