Before the bell: Futures up as market digests Intel, JP Morgan Chase reports

U.S. futures are up this morning, buoyed by upbeat news from technology bellwether Intel (NASDAQ: INTC). After the close Tuesday, the world's largest semiconductor company announced higher-than-expected first-quarter revenue of $9.7 billion, up 9% from a year ago. Intel Chief Financial Officer Stacy Smith said the company saw sales increase in all geographic regions, including the United States and Europe.

This morning, JPMorgan Chase & Co (NYSE: JPM) also reported better-than-expected figures. The third largest U.S. bank said Q1 profit fell to $2.37 billion, or 68 cents per share, from $4.79 billion, or $1.34 per share, a year ago. Analysts had expected 64 cents per share.

Stocks closed slightly higher yesterday after a day of mixed economic data and earnings, including the best quarter ever from Schwab (NASDAQ: SCHW), better-than expected-earnings from Johnson & Johnson (NYSE: JNJ), but losses of more than $1 billion from Washington Mutual Inc. (NYSE: WM).The Dow industrials rose 60 points, or 0.49%, the Nasdaq Composite was up 10 points, or 0.45%, and the S&P 500 gained 6 points, or 0.46%.

After the close yesterday, transportation company CSX Corp. (NYSE: CSX) reported soaring first-quarter profit, with a 63% improvement in earnings per share over last year.

Oil hit a new record overnight of $114.48, and the dollar plunged to an all-time low against the euro.

Economic data today includes: March consumer price index and housing starts at 8:30 a.m. EST; crude inventories for the week of April 12 are due in at 10:30 a.m.; and the Fed's Beige Book will be released at 2:00 p.m.

In addition to JP Morgan Chase, earnings are due in today from Coca-Cola, Wells Fargo and, after the close, eBay and IBM.