US STOCKS-Futures rise as Syria fears wane, focus shifts to earnings

Reuters

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    * BofA shares rise after Q1 profit beat 
    * March retail sales rise more than expected
    * Netflix rises ahead of results after the bell
    * Futures up: Dow 0.65 pct, S&P 0.61 pct, Nasdaq 0.63 pct

 (Adds comments, details, updates prices)
    By Sruthi Shankar
    April 16 (Reuters) - U.S. stock index futures rose on Monday
as investors bet the weekend's U.S.-led missile attack on Syria
would not escalate into a broader conflict, while turning their
focus to the earnings season.
    Saturday's strikes marked the biggest intervention by
Western countries against Syrian President Bashar al-Assad and
his ally Russia, which is facing further economic sanctions over
its role in the conflict.  urn:newsml:reuters.com:*:nL8N1RT2KB
    "The action was well-received ... and that's giving a chance
for investors to focus on macro news and earnings," said Peter
Cardillo, chief market economist at Spartan Capital Securities
in New York.
    "It's not going to be a negative unless it turns into a
bigger conflict. It's going to be a day where the market is
going to attempt to move a bit higher."
    Shares of Bank of America  BAC.N  rose 0.84 percent in
premarket trading after the lender reported a
better-than-expected increase in quarterly profit.  urn:newsml:reuters.com:*:nL3N1RT46T
    Shares of JPMorgan  JPM.N , Wells Fargo  WFC.N  and
Citigroup  C.N , all of which reported on Friday, were also
higher.
    Analysts are expecting the S&P 500 companies to record an
18.6 percent rise in profit, their strongest earnings growth in
seven years, according to Thomson Reuters I/B/E/S.
    However, many traders say that reactions to results could be
muted as market participants have already priced in gains from
corporate tax cuts, reflected in the stock market's strong rally
in 2017 and early 2018.
    At 8:44 a.m. ET, Dow e-minis  1YMc1  were up 158 points, or
0.65 percent. S&P 500 e-minis  ESc1  rose 16.25 points, or 0.61
percent and Nasdaq 100 e-minis  NQc1  gained 41.75 points, or
0.63 percent.
    Waning fears of a broader conflict in Syria pushed
short-dated U.S. Treasury yields to their highest level in
almost a decade, while crude oil prices eased due to a rise in
U.S. drilling activity.  US/   O/R 
    "We're seeing a little bit of an uptick in yields and
pullback in oil, and those are likely to constrain any strong
reaction to earnings and macro news," said Cardillo.
    Data on Monday showed U.S. retail sales increased more than
expected in March, rising after three straight monthly declines,
as households boosted purchases of motor vehicles and other
big-ticket items.  urn:newsml:reuters.com:*:nLNSGFEEAZ
    Shares of Netflix  NFLX.O , which is expected to report
results after market close on Monday, rose 1.44 percent.

 (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil
D'Silva)
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6749 6328; Reuters Messaging:
sruthi.shankar.reuters.com@reuters.net))

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