U.S. Stocks - Indexes set for higher open as JPMorgan results beat expectations

By Ankur Banerjee

REUTERS - U.S. stock indexes were set to open slightly higher on Thursday as oil prices steadied and JPMorgan's better-than-expected results boosted bank stocks.

JPMorgan shares were up 2 percent at $58.50 premarket. Citigroup, Wells Fargo, Morgan Stanley and Bank of America all rose about 1 percent.

Oil prices looked set to snap an eight-day losing streak, but remained near 12-year lows as the prospect of Iran's oil hitting an oversupplied market loomed.

Data on Thursday showed the number of Americans filing for unemployment benefits unexpectedly rose last week, but remained below levels associated with a healthy labor market.

"I think it's important to watch how the day plays out," said Art Hogan, chief market strategist at Wunderlich Securities in New York.

U.S. stocks sank on Wednesday, pushing the S&P 500 to close below 1,900 for the first time since September, on worries about weak energy prices, corporate earnings and the global economy.

"We've seen this happen three days in a row where you get some positive action on the open and that fades pretty quickly into the day," Hogan said, adding that rallies have been selling opportunities this year.

The market has made multiple attempts at rallies this year, but concerns over China's economy, plunging oil prices and fresh geopolitical concerns have stymied investors.

At 8:38 a.m. ET (1338 GMT), Dow e-minis were up 85 points, or 0.53 percent, with 80,670 contracts changing hands.

S&P 500 e-minis were up 9.75 points, or 0.52 percent, with 430,973 contracts traded. Nasdaq 100 e-minis were up 12 points, or 0.29 percent, on volume of 68,655 contracts.

GoPro Inc slumped 25 percent to $10.71 after the action camera maker estimated weak holiday-quarter revenue and said it would cut 7 percent of its workforce.

Nvidia slipped 3.8 percent at $28.15 after Barclays downgraded the stock to "underweight".

WebMD rose 5.3 percent to $56.03 on a report that the online health portal was exploring a sale.

Best Buy dropped 7.7 percent to $27 after the electronics retailer reported disappointing holiday sales.

Intel is scheduled to report results after close.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Savio D'Souza)