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Futures up: Dow 0.36%, S&P 500 0.34%, Nasdaq 0.35%

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JPMorgan ( JPM ) up after beating quarterly profit estimates

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Beijing increases tariffs on US imports to 125%

(Updates before markets open)

By Shashwat Chauhan and Purvi Agarwal

April 11 (Reuters) - Wall Street's main indexes were set

to open higher on Friday following earnings from big banks

including JPMorgan ( JPM ), while markets also assessed the latest

escalation in the trade war with China increasing its tariffs on

U.S. imports to 125%.

JPMorgan Chase ( JPM ) gained 1% before the bell after

beating first-quarter profit estimates. Wells Fargo ( WFC )

slipped about 1% despite beating quarterly earnings estimates.

Morgan Stanley ( MS ) edged 0.6% lower even as it beat

quarterly profit estimates.

Meanwhile, China retaliated after U.S. President Donald

Trump on Thursday doubled down on the country by increasing

tariffs to an effective rate of 145%, even as he announced a

90-day tariff reprieve on most trading partners.

Stocks have been on a roller-coaster ride in response to

tariff announcements in the past few days. Wall Street fell for

four straight sessions, before bouncing back on Wednesday with

the S&P 500 seeing its largest one-day percentage jump

since October 2008.

Stocks, however, slumped again on Thursday and were more

than 7% off from levels seen before last week, when Trump's

"reciprocal" tariffs sparked the market rout.

"The market is oversold and has been for a while on many

different metrics," said Thomas Martin, senior portfolio manager

at Globalt Investments.

At 08:47 a.m. ET, Dow E-minis were up 142 points,

or 0.36%, S&P 500 E-minis were up 18.25 points, or

0.34%, and Nasdaq 100 E-minis were up 65 points, or

0.35%.

Amid the volatility, all three major Wall Street indexes are

set for robust weekly gains, with the Nasdaq set for its

best weekly showing so far this year.

Most megacap and growth stocks were higher after initial

losses in premarket trade, with gains in Apple ( AAPL ), Nvidia ( NVDA )

and Amazon.com ( AMZN ).

"A lot of de-risking has happened in the (tech) space and

investors don't want to take too much risk of being too

underweight those areas," Martin added.

Investors sought refuge in traditional safe-haven assets

such as gold, which jumped to a record high. Safe-haven

currencies such as the Japanese yen and Swiss franc

also strengthened against the dollar.

The rally in the precious metal lifted gold miners, with

Newmont ( NEM ) and U.S.-listed shares of Barrick Gold ( GOLD )

rising more than 3% each.

U.S. monthly producer prices unexpectedly fell in March,

coming on the heels of a consumer prices reading which also

showed an unexpected decline last month.

Treasury yields remained elevated after a steep bond selloff

earlier this week. The yield on the 10-year note was

at 4.46%, hovering near its February highs.

At least three Fed officials, including New York Fed

President John Williams, are scheduled to speak throughout the

day.

Traders currently expect more than 90 basis points of

interest rate cuts by the Federal Reserve this year, starting in

June, according to LSEG data.