US STOCKS-Futures dip in volatile trade after Swiss Bank move

Thu Jan 15, 2015 8:16am EST
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* Bank of America falls in premarket after results

* Best Buy down in premarket after holiday sales

* Initial claims data due

* Futures off: Dow 8 pts, S&P up 3.25 pts, Nasdaq off 9.75 pts (Adds Citibank earnings, Swiss ADR moves)

By Chuck Mikolajczak

NEW YORK, Jan 15 (Reuters) - U.S. stock index futures dipped in choppy trading on Thursday, fluctuating between gains and losses, after the Swiss National Bank scrapped its three-year euro cap on the franc.

* Trading was volatile, and futures erased early gains after the SNB said it would discontinue the cap it introduced on Sept. 6, 2011 to fight recession and deflation threats.

* Swiss stocks traded in the U.S. moved higher in premarket trading, including UBS, up 7 percent at $17.45, Credit Suisse, up 3.9 percent at $23.70 and Novartis, up 7 percent to $103.63.

* Bank of America lost 2.7 percent to $15.60 before the opening bell after the second-largest U.S. bank by assets reported a 14 percent slump in quarterly profit.   Continued...