GLOBAL MARKETS-Stocks mostly gain with earnings in focus; sterling slips

* U.S. stocks higher in early trading
* Intel a boost to S&P 500
* Sterling still fragile

(Updates with early U.S. markets activity, changes dateline,
previous LONDON)
By Caroline Valetkevitch
NEW YORK, Oct 25 (Reuters) - Global stock indexes were flat
to higher on Friday as upbeat earnings offset
weaker-than-expected results, while the British pound extended
losses from the previous day amid fresh uncertainty around
Britain's exit from the European Union.
Strong results from Intel INTC.O helped to buoy the S&P
500 index in early trading, even as Amazon.com Inc AMZN.O
shares weighed following the company's forecast for revenue and
profit for the holiday quarter below expectations.
Trade talks were also back in focus with U.S. and Chinese
trade officials due to discuss plans for China to buy more U.S.
farm products while Beijing in return will request cancellation
of some planned and existing U.S. tariffs on Chinese imports.
The two sides are working to try to agree on a text for a
"Phase 1" trade agreement announced by U.S. President Donald
Trump on Oct. 11, in time for him to sign it with China's
President Xi Jinping next month at a summit in Chile. Though
there are still large gaps to bridge.
The majority of U.S. companies have beaten Wall Street
expectations so far this earnings season despite concern about
the trade war.
"We've had some misses ... mostly due to trade war concerns,
but overall, it looks like we're headed for a fairly good
earnings season," said Peter Cardillo, chief market economist at
Spartan Capital Securities in New York.
The Dow Jones Industrial Average .DJI rose 124.07 points,
or 0.46%, to 26,929.6, the S&P 500 .SPX gained 8.16 points, or
0.27%, to 3,018.45 and the Nasdaq Composite .IXIC added 31.91
points, or 0.39%, to 8,217.71.
The pan-European STOXX 600 index .STOXX lost 0.01% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.15%.
The world's largest beer maker by Anheuser-Busch InBev
ABI.BR tumbled on disappointing quarterly profit and a glum
outlook as the earnings season rumbled on.
Sterling GBP= was last trading at $1.2831, down 0.15% on
the day.
Reuters reported a source close to French President Emmanuel
Macron said an extension to the negotiations for Britain's
departure from the European Union was not justified at this
stage. In the U.S. bond market, benchmark 10-year notes US10YT=RR
last fell 2/32 in price to yield 1.7714%, from 1.766% late on
Thursday.
A Reuters poll of economists showed that most think a
steeper decline in global growth is more likely than a
synchronised recovery, despite central bank easing. Markets are pricing in a 90% chance of a rate cut at next
week's Federal Reserve meeting. On the energy front, U.S. crude CLcv1 rose 0.07% to $56.27
per barrel and Brent LCOcv1 was last at $61.59, down 0.13% on
the day.

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