(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

*

Wells Fargo ( WFC ) falls after Q1 profit drop

*

JPMorgan Chase & Co ( JPM ) down after NII forecast miss

*

Futures down: Dow 0.29%, S&P 0.38%, Nasdaq 0.51%

(Updated at 8:30 a.m. ET/ 1230 GMT)

By Shashwat Chauhan and Shristi Achar A

April 12 (Reuters) -

Wall Street's main stock indexes were on track for a lower

open on Friday as most megacap growth stocks and chipmakers

receded, while some big banks dipped after dour quarterly

results.

JPMorgan Chase & Co ( JPM ) fell 2.8% in premarket trading

after the bank's forecast for its income from interest payments

came in below analysts' expectations.

Wells Fargo ( WFC ) lost 0.3% after reporting a more than 7%

fall in first-quarter profit, as it earned less from customer

interest payments.

Citigroup ( C/PN )

gained 1.3% despite reporting a fall in first-quarter

profit.

"Most indicators are that the growth has been fairly

persistent in the last couple of quarters," said Hugh Anderson,

managing director at HighTower Advisors.

"I would expect that the banks are going to show some

decent earnings, but they also might show some cracks in the

other parts of the reports, such as delinquencies, defaults and

the like, because there is some evidence of that in the market."

Most megapcap growth stocks dipped, with Nvidia ( NVDA )

, Tesla and Meta Platforms ( META ) down

between 0.3% and 0.9%.

Advanced Micro Devices ( AMD ) and Intel ( INTC ) lost

about 2% each after a report that Chinese officials had told the

country's largest telecom carriers earlier this year to phase

out foreign chips that are key to their networks by 2027.

The Dow and the S&P 500 eyed weekly losses as

sentiment was roiled this week following a

hotter-than-anticipated inflation reading that pushed traders to

scale back their enthusiasm around the U.S. Federal Reserve

cutting interest rates. The tech-heavy Nasdaq, however,

was on track for its first weekly gain in three.

The Nasdaq and the S&P 500 closed higher in the previous

session as fresh economic data rekindled hopes that inflation

remained in a cooling trend.

Money market participants see an about 50% chance of the Fed

bringing in the first interest-rate cut in July, according to

the CME FedWatch Tool.

U.S. large-cap stocks suffered their largest weekly outflow

since December 2022 in the week to Wednesday, Bank of America

said.

Meanwhile, Boston Fed President Susan Collins is eyeing a

couple of interest-rate cuts this year, amid expectations that

it could take some time for inflation to return to its targeted

level.

Focus now turns to comments from Kansas City Fed President

Jeffrey Schmid, Atlanta Fed President Raphael Bostic and their

San Francisco counterpart Mary Daly later in the day, for hints

on the central bank's rate outlook.

On the data front, a preliminary reading of the University

of Michigan's overall Consumer Sentiment Index for April is due

at 10 a.m. ET.

At 8:30 a.m. ET, Dow e-minis were down 111 points,

or 0.29%, S&P 500 e-minis were down 19.75 points, or

0.38%, and Nasdaq 100 e-minis were down 95 points, or

0.51%.

BlackRock ( BLK ) rose 2.6% after the world's largest asset

manager reported record assets under management and posted a 36%

jump in profit.

State Street

gained 1.5% after the custodian bank's assets under

management for the first quarter rose by nearly 20%.