* Bank of America up after profit rises
* Hasbro rises on better-than-expected results
* Fed Vice Chairman Fischer to speak at midday
* Futures down: Dow 19 pts, S&P 2.5 pts, Nasdaq 8.5 pts
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
Oct 17 Wall Street was set for a slightly lower
open on Monday, but stock index futures came off session lows
after strong results from Bank of America and Hasbro.
Bank of America reported its first profit increase
in three quarters and also beat analysts' estimates by a large
Shares of the second-biggest U.S. bank by assets rose 1.37
percent in heavy premarket trading, and helped lift stocks of
other banks, including Morgan Stanley and Goldman Sachs
The third-quarter earnings season is at the front and center
of investors' attention as they hope for a rebound in the
second-half of the year after a weak first-half performance.
Earnings of S&P 500 companies are expected to have dipped
0.4 percent in the third quarter, according to Thomson Reuters
data, but better-than-expected reports could shore up profits
for the period.
"I think we're headed for a bumpy session with earnings
leading the way," said Peter Cardillo, chief market economist at
First Standard Financial in New York.
"It's also a jittery market ahead of the elections and of
course the prospects of a rate hike in December."
The markets have been struggling to maintain momentum in the
past few weeks amid changing dynamics of the U.S. presidential
elections and varying signals on interest rate hikes.
The benchmark S&P 500 index has been alternating between
losses and gains for the past seven days.
Dow e-minis were down 19 points, or 0.11 percent at
8:37 a.m. ET, with 30,500 contracts changing hands.
S&P 500 e-minis were down 2.5 points, or 0.12
percent, with 160,789 contracts traded.
Nasdaq 100 e-minis were down 8.5 points, or 0.18
percent, on volume of 26,684 contracts.
Shares of Hasbro were up 5.24 percent at $80.15
after the toymaker reported better-than-expected quarterly
revenue and profit. Shares of larger rival Mattel rose
Federal Reserve Vice Chairman Stanley Fischer, who has at
times supported higher interest rates, is scheduled to speak in
New York at 12:15 p.m. ET (1615 GMT).
Meanwhile, at 9:15 a.m. ET, investors will get a reading on
U.S. industrial output which likely recovered in September to
rise 0.2 percent after having fallen 0.4 percent the previous
IBM and video streaming website Netflix are
scheduled to report results after markets close.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by