US STOCKS-Futures climb on Fed expectations, earnings

                                

                                
 * Dollar falls on Fed easing expectations
                                
 * Intel, JPMorgan post results
                                
 * Futures up: Dow 80 pts, S&P 8.9 pts, Nasdaq 17 pts
                                
 * For up-to-the-minute market news see [STXNEWS/US]
  (Adds details, updates prices)
                                
By Chuck Mikolajczak
                                
 NEW YORK, Oct 13 (Reuters) - U.S. stock index futures
climbed on Wednesday on rising expectations the Federal Reserve
will move again to prop up the economic recovery, a bullish
forecast from Intel and strong earnings from JPMorgan Chase.
                                
 U.S. stocks hit fresh 5-month highs on Tuesday and the
dollar came under pressure as details from the Fed's latest
meeting showed the U.S. central bank may once again flood
markets with cheap cash "before long" to boost growth. For
details, see [ID:nN12188145]
                                
 The dollar came under broad selling pressure on Wednesday,
and approached key lows against the euro, the Swiss franc and a
basket of currencies on more signs of U.S. monetary easing. The
dollar index <.DXY> shed 0.4 percent. [ID:nLDE69C0YQ]
                                
 "It's a continuation of several factors, the Fed minutes,
and certainly that induced a rally right across the board. We
are seeing the dollar lower, gold and oil prices higher. That
is adding risk flavor to the market," said Peter Cardillo,
chief market economist at Avalon Partners in New York. "Plus,
of course the news from Intel last night."
                                
 JP Morgan Chase & Co <JPM.N> rose 1 percent to $40.79  in
premarket trade after the second largest U.S. bank by assets
said  quarterly profits jumped 22 percent, helped by lower loan
losses in its retail and credit card units. [ID:nN11126621]
                                
 Intel Corp <INTC.O> forecast upbeat fourth-quarter sales
and margins late Tuesday as resilient demand from emerging
markets and corporations offset weak consumer spending. That
raised hopes the technology sector could end 2010 on a strong
note. Intel gained 1.2 percent to $20 premarket.
[ID:nN11136922]
                                
 S&P 500 futures <SPc1> were up 8.9 points and above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures <DJc1> jumped 80
points, and Nasdaq 100 futures <NDc1> advanced 17 points.
                                
 Dutch chip equipment maker ASML Holding NV
<ASML.AS><ASML.O> beat estimates with a big rise in quarterly
profits on a surge in demand and said it should end the year
with a record order book. Its U.S.-traded shares were up 4.9
percent to $32.06. [ID:nLDE69B179]
                                
 Minutes of the Fed's meeting in September revealed
officials thought the struggling recovery might soon need more
help and discussed options, including possible adoption of a
price-level target.
                                
 The prospect of the additional Fed stimulus has created an
inverse correlation between the dollar and equities, with a
decline in the greenback triggering a move into equities.
[ID:nLDE69B0OQ]
                                
 Chevron Corp <CVX.N> forecast third-quarter earnings would
be lower than the previous quarter, weighed down by a drop in
U.S. production, higher costs and the effects from a weaker
dollar. The stock edged up 0.1 percent to $83.93.[ID:nN12196879]
                                
 European shares <.FTEU3> rose 1.3 percent and touched a
three-week high after the news from the U.S. Fed minutes.
[.EU]. Asian stocks rose with technology-linked shares leading
the way following the Intel forecast. [ID:nLDE69C06U]
  (Editing by Jeffrey Benkoe)