* JP Morgan climbs in premarket, despite loss in quarter
* Washington political talks continue to end crisis
* UMich data on tap
* Futures up: Dow 25 pts, S&P 2.2 pts, Nasdaq 4 pts
By Chuck Mikolajczak
NEW YORK, Oct 11 U.S. stock index futures were
little changed on Friday, in the wake of the biggest rally since
the first trading day of the year, as talks continued in
Washington to end a fiscal stalemate that has shut down the
government for days.
* After meeting at the White House on Thursday, President
Barack Obama and Republican leaders appeared ready to end a
crisis that shut much of the U.S. government Oct. 1. The crisis
began late in September as Republicans tied continued government
funding to measures that would undercut the Affordable Care Act,
Obama's signature legislative accomplishment.
* Although no deal emerged from the 90-minute meeting, talks
continued into the night in an effort to re-open the government
and extend the government's borrowing authority beyond an Oct.
* Major U.S. stock indexes staged their strongest rally in
more than nine months on Thursday, leaving the S&P 500
less than 2 percent away from its record closing high set three
* JPMorgan Chase & Co rose 2.6 percent to $53.89 in
premarket trading, even as the biggest U.S. bank by assets
reported a rare quarterly loss after incurring $9.2 billion in
legal expenses. Excluding litigation expense and reserve
release, it earned a profit of $5.82 billion, or $1.42 a share.
* S&P 500 futures rose 2.2 points and were roughly
even with 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 gained
25 points and Nasdaq 100 futures added 4 points.
* Later in the session at 9:55 a.m. EDT (1355 GMT), the
Thomson Reuters/University of Michigan Surveys of Consumers
October preliminary consumer sentiment index is due to be
released. Economists in a Reuters survey expect a reading of
76.0 compared with 77.5 in the final September report.
* Micron Technology Inc fell 2.3 percent to $18
before the opening bell, after the chipmaker posted a
smaller-than-expected fiscal fourth-quarter net profit on
* European stocks edged higher as investors waited to see if
an agreement would finally be reached in Washington on the U.S.
* Asian stocks jumped to three-week highs as investors took
a chance and cheered perceived progress in Washington to avert a
possible debt default.