By Anora Mahmudova and Sara Sjolin, MarketWatch

J.P. Morgan climbs after earnings beat views

NEW YORK (MarketWatch)--U.S. stock futures were slightly lower but traded in a tight range after a rebound in retail sales and an uptick in producer prices both came in slightly below expectations.

Investors were also assessing earnings reports. J.P. Morgan's results--the first major earnings report of the day--beat forecasts and sent the bank's shares higher in premarket trading.

Futures for the Dow Jones Industrial Average (YMM5) dropped 9 points to 17,901, while those for the S&P 500 index (ESM5) fell 2 points, or 0.1%, to 2,084.80. Futures for the Nasdaq 100 index (NQM5) were down 2 points at 4,401.25.

On Monday, the benchmarks settled lower in a thinly traded session (http://www.marketwatch.com/storyno-meta-for-guid) as concerns persisted that the first-quarter earnings season will be a disappointing affair.

"Thanks to the strength of the dollar and lower energy prices, analysts have been progressively downgrading their estimates of profit growth. So far, U.S. equity markets have taken these earnings downgrades in their stride," said Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor, in a note.

"However, if there is evidence that the picture is not improving in Q2, the market may find it more difficult to sustain current valuations, especially if rising employment levels raise the prospect of a potential June rate hike from the Fed," she said.

Earnings: Banking major J.P. Morgan Chase & Co. (JPM) reported rises in first-quarter profit and revenue above analyst forecasts, lifting the shares 1.1% premarket.

Wells Fargo & Co.(WFC) reported that its first-quarter profit fell, the first such drop in 18 quarters. Shares fell 1% premarket.

The two companies kick off earnings season for large U.S. banks, with Bank of America Corp. (BAC), Citigroup Inc. (C) and Goldman Sachs Group Inc. (GS) reporting later in the week.

Also reporting before the market open Tuesday, drug maker Johnson & Johnson(JNJ) reported an 8.6% decline in first-quarter profit and reduced its 2015 per-share earnings outlook. Shares were slightly higher, however.

Intel Corp.(INTC) is slated to report after the bell. The chip maker is expected to post first-quarter earnings of 41 cents a share.

CSX Corp.(CSX) is expected to report first-quarter earnings of 44 cents a share after the market closes. CSX shares fell in sympathy after-hours Monday, after Norfolk Southern Corp.'s (NSC) warned on profit (http://www.marketwatch.com/story/norfolk-southern-view-misses-estimates-2015-04-13) due to lighter-than-expected coal shipments. Norfolk Southern shares were down 6.1% ahead of the bell on Tuesday.

Other stocks to watch: Shares of Best Buy Co. (BBY) could be active after the electronics retailer late Monday said its chairman, Hatim Tyabji, will retire on June 9 (http://www.marketwatch.com/story/best-buy-chairman-hatim-tyabji-to-retire-2015-04-13) after three years in the role.

Data: There is also plenty to look for on the data calendar Tuesday. Sales at U.S. retailers (http://www.marketwatch.com/story/retail-sales-rebound-09-in-march-after-three-straight-declines-2015-04-14) rose in March by the largest amount in a year, rebounding after three straight monthly declines. However, the rebound was weaker than expected.

U.S. producer prices (http://www.marketwatch.com/story/march-producer-prices-rise-02-first-gain-since-october-2015-04-14) rose a seasonally adjusted 0.2% in March after four straight monthly declines, the Labor Department said Tuesday.

The NFIB small-business index for March fell to its lowest reading (http://www.marketwatch.com/story/small-business-optimism-slumps-to-nine-month-low-nfib-2015-04-14) in nine months. February business inventories data are due at 10 a.m.

Minneapolis Fed President Narayana Kocherlakota will speak at an open forum about the economy in Winona, Minn., at 8 p.m. Eastern. Kocherlakota isn't a voting member of the Federal Open Market Committee this year.

Other markets: Asian markets closed mixed (http://www.marketwatch.com/storyno-meta-for-guid), while European stocks were lower (http://www.marketwatch.com/storyno-meta-for-guid) almost across the board as investors remained concerned about Greece's bailout program.

Oil prices (CLK5) kept moving higher (http://www.marketwatch.com/storyno-meta-for-guid) on hopes U.S. shale oil production has peaked and may start falling. Metals fell (GCM5), while the dollar (DXY) was little changed.

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